MUFG Securities EMEA plc Raises Stake in Lennar Corporation $LEN

Key Points

• MUFG Securities EMEA plc increased its stake in Lennar by 2,522.7% in the fourth quarter, holding 114,245 shares valued at about $11.7 million.
• Lennar’s latest quarterly results were weaker than expected, with EPS of $0.88 versus the $0.95 estimate and revenue of $6.62 billion versus $6.90 billion, while revenue fell 13.3% year over year.
• Analysts remain cautious on the stock: the consensus rating is "Reduce" with a consensus price target of $99.87, even as Lennar continues paying a quarterly dividend of $0.50 per share.

MUFG Securities EMEA plc grew its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 2,522.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 114,245 shares of the construction company's stock after buying an additional 109,889 shares during the period. MUFG Securities EMEA plc's holdings in Lennar were worth $11,744,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LEN. Viking Global Investors LP increased its position in shares of Lennar by 86.7% during the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company's stock valued at $279,135,000 after buying an additional 1,172,068 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Lennar by 14.6% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company's stock valued at $596,504,000 after buying an additional 603,004 shares during the period. Todd Asset Management LLC bought a new stake in shares of Lennar during the third quarter valued at about $26,371,000. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Lennar by 319.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 274,173 shares of the construction company's stock valued at $34,557,000 after acquiring an additional 208,800 shares in the last quarter. Finally, Duquesne Family Office LLC boosted its position in shares of Lennar by 210.8% during the 3rd quarter. Duquesne Family Office LLC now owns 279,424 shares of the construction company's stock valued at $35,219,000 after acquiring an additional 189,524 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Lennar Stock Performance

Shares of LEN stock opened at $89.95 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 4.77. Lennar Corporation has a fifty-two week low of $81.18 and a fifty-two week high of $144.24. The stock has a 50 day moving average price of $89.14 and a two-hundred day moving average price of $105.25. The company has a market capitalization of $22.22 billion, a P/E ratio of 12.92, a PEG ratio of 1.98 and a beta of 1.39.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings data on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.07). Lennar had a net margin of 5.39% and a return on equity of 7.80%. The company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the previous year, the firm posted $2.14 EPS. The business's revenue for the quarter was down 13.3% compared to the same quarter last year. Analysts expect that Lennar Corporation will post 5.87 earnings per share for the current year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were given a $0.50 dividend. The ex-dividend date was Wednesday, April 22nd. This represents a $2.00 annualized dividend and a yield of 2.2%. Lennar's payout ratio is presently 28.74%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LEN. Evercore dropped their price target on Lennar from $89.00 to $82.00 and set an "underperform" rating for the company in a research report on Monday, April 13th. Seaport Research Partners reiterated a "sell" rating and set a $74.00 target price (down from $140.00) on shares of Lennar in a research report on Tuesday, April 7th. Citigroup dropped their target price on shares of Lennar from $113.00 to $104.00 and set a "neutral" rating for the company in a research report on Tuesday, March 17th. Barclays dropped their target price on shares of Lennar from $85.00 to $80.00 and set an "underweight" rating for the company in a research report on Wednesday, April 8th. Finally, Wells Fargo & Company dropped their target price on shares of Lennar from $100.00 to $90.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 8th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat, Lennar has a consensus rating of "Reduce" and a consensus price target of $99.87.

Lennar Profile

Lennar Corporation NYSE: LEN is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.

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