Opal Capital LLC Purchases 29,435 Shares of Lennar Corporation $LEN

Key Points

• Opal Capital increased its Lennar stake by 124.7% in the first quarter, purchasing 29,435 shares for a total of 53,032 shares valued at approximately $4.6 million. Institutional investors collectively own 81.1% of Lennar.
• Lennar reported quarterly EPS of $1.31, exceeding estimates of $1.24, but revenue fell 5.2% year over year to $7.94 billion. The company also paid a quarterly dividend of $0.50, representing a 2.3% annualized yield.
• Analyst sentiment remains cautious: one analyst rates Lennar a Buy, seven rate it Hold and ten rate it Sell, resulting in a consensus “Reduce” rating and an average price target of $92.80.

Opal Capital LLC boosted its holdings in shares of Lennar Corporation (NYSE:LEN - Free Report) by 124.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,032 shares of the construction company's stock after purchasing an additional 29,435 shares during the period. Opal Capital LLC's holdings in Lennar were worth $4,605,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of LEN. Empowered Funds LLC raised its holdings in shares of Lennar by 322.4% during the 1st quarter. Empowered Funds LLC now owns 309,880 shares of the construction company's stock worth $26,910,000 after buying an additional 236,524 shares in the last quarter. KCM Investment Advisors LLC boosted its stake in Lennar by 1.3% in the first quarter. KCM Investment Advisors LLC now owns 9,879 shares of the construction company's stock valued at $858,000 after buying an additional 125 shares in the last quarter. Infrastructure Capital Advisors LLC bought a new position in Lennar in the first quarter valued at about $2,855,000. Copley Financial Group Inc. grew its position in Lennar by 56.7% in the first quarter. Copley Financial Group Inc. now owns 3,409 shares of the construction company's stock valued at $296,000 after acquiring an additional 1,233 shares during the last quarter. Finally, Gateway Wealth Partners LLC acquired a new position in Lennar during the first quarter worth about $330,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Stock Performance

Shares of LEN stock opened at $87.61 on Wednesday. The firm has a market capitalization of $21.11 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 2.82 and a beta of 1.38. The company has a current ratio of 4.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. The business's 50-day moving average price is $88.12 and its 200-day moving average price is $96.81. Lennar Corporation has a 12 month low of $79.82 and a 12 month high of $144.24.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.07. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The company had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $8.08 billion. During the same quarter in the prior year, the firm posted $1.81 earnings per share. The firm's revenue was down 5.2% compared to the same quarter last year. Equities research analysts forecast that Lennar Corporation will post 5.52 EPS for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were issued a $0.50 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.00 annualized dividend and a yield of 2.3%. Lennar's dividend payout ratio is presently 31.30%.

Wall Street Analyst Weigh In

LEN has been the topic of a number of research analyst reports. Seaport Research Partners restated a "sell" rating and issued a $74.00 price target (down from $140.00) on shares of Lennar in a research note on Tuesday, April 7th. Evercore upped their price objective on shares of Lennar from $82.00 to $87.00 and gave the stock an "underperform" rating in a research report on Monday, June 15th. Weiss Ratings reissued a "sell (d+)" rating on shares of Lennar in a research note on Thursday, June 11th. Truist Financial cut their target price on shares of Lennar from $95.00 to $90.00 and set a "hold" rating on the stock in a research report on Tuesday, March 31st. Finally, Wells Fargo & Company decreased their target price on shares of Lennar from $90.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Monday, June 15th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of $92.80.

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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