New Age Alpha Advisors LLC Has $2.66 Million Holdings in Lennar Corporation (NYSE:LEN)

Key Points

• New Age Alpha Advisors LLC has reduced its stake in Lennar Corporation by 11.2% during the first quarter, now holding 23,199 shares worth approximately $2.66 million.
• Lennar's latest earnings report indicated $1.90 EPS, missing consensus estimates, with a revenue of $8.38 billion, showing a year-over-year decline of 4.4%.
• The company recently announced a quarterly dividend of $0.50 per share, reflecting an annualized yield of 1.7% and a low dividend payout ratio of 16.54%.

New Age Alpha Advisors LLC lowered its holdings in Lennar Corporation (NYSE:LEN - Free Report) by 11.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,199 shares of the construction company's stock after selling 2,938 shares during the quarter. New Age Alpha Advisors LLC's holdings in Lennar were worth $2,663,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ameriflex Group Inc. bought a new stake in shares of Lennar in the 4th quarter worth approximately $30,000. Opal Wealth Advisors LLC bought a new stake in shares of Lennar in the 1st quarter worth approximately $30,000. NBC Securities Inc. bought a new stake in shares of Lennar in the 1st quarter worth approximately $33,000. Franchise Capital Ltd bought a new stake in shares of Lennar in the 1st quarter worth approximately $38,000. Finally, Oakworth Capital Inc. lifted its position in shares of Lennar by 139.9% in the 1st quarter. Oakworth Capital Inc. now owns 343 shares of the construction company's stock worth $39,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Trading Up 1.2%

Shares of NYSE LEN traded up $1.40 during midday trading on Friday, hitting $120.91. The stock had a trading volume of 2,093,620 shares, compared to its average volume of 2,743,458. The company's 50-day simple moving average is $112.01 and its 200 day simple moving average is $114.47. The firm has a market cap of $31.32 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 5.07 and a beta of 1.29. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $193.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49.

Lennar (NYSE:LEN - Get Free Report) last released its earnings results on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.04). The firm had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.21 billion. Lennar had a net margin of 9.20% and a return on equity of 12.73%. The firm's quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the business posted $3.45 earnings per share. Research analysts anticipate that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, July 3rd. Lennar's dividend payout ratio (DPR) is 16.54%.

Wall Street Analysts Forecast Growth

LEN has been the subject of a number of research reports. Royal Bank Of Canada reduced their price objective on Lennar from $122.00 to $98.00 and set a "sector perform" rating for the company in a research report on Wednesday, June 18th. Wall Street Zen downgraded Lennar from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Keefe, Bruyette & Woods cut their target price on Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a research report on Friday, June 20th. UBS Group cut their target price on Lennar from $164.00 to $146.00 and set a "buy" rating for the company in a research report on Wednesday, June 18th. Finally, Zelman & Associates downgraded Lennar from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Lennar currently has a consensus rating of "Hold" and an average price target of $128.85.

Lennar Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties.