Lennar Corporation $LEN Shares Acquired by Parkwood LLC

Key Points

• Parkwood LLC increased its investment in Lennar Corporation by 4.9% in the first quarter, holding a total of 64,069 shares worth approximately $7.35 million.
• Lennar's recent quarterly earnings report revealed a missed EPS estimate with a reported $1.90, falling short of the $1.94 consensus, and a 4.4% decline in year-over-year revenue.
• Analysts' sentiments towards Lennar have shifted, with several firms recently downgrading ratings and target prices, reflecting a cautious outlook on the stock.

Parkwood LLC boosted its position in shares of Lennar Corporation (NYSE:LEN - Free Report) by 4.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,069 shares of the construction company's stock after purchasing an additional 2,972 shares during the quarter. Parkwood LLC's holdings in Lennar were worth $7,354,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new stake in Lennar during the 4th quarter valued at $30,000. Opal Wealth Advisors LLC bought a new stake in Lennar during the 1st quarter valued at $30,000. NBC Securities Inc. purchased a new stake in shares of Lennar during the 1st quarter valued at $33,000. Franchise Capital Ltd purchased a new stake in shares of Lennar during the 1st quarter valued at $38,000. Finally, Disciplina Capital Management LLC lifted its holdings in shares of Lennar by 179.8% during the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company's stock valued at $38,000 after purchasing an additional 214 shares during the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LEN has been the subject of several analyst reports. Royal Bank Of Canada decreased their price objective on Lennar from $122.00 to $98.00 and set a "sector perform" rating for the company in a report on Wednesday, June 18th. Bank of America decreased their price objective on Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, June 18th. Wedbush reiterated a "neutral" rating and set a $130.00 price objective on shares of Lennar in a report on Wednesday, June 18th. JMP Securities decreased their price objective on Lennar from $150.00 to $130.00 and set a "market outperform" rating for the company in a report on Friday, June 20th. Finally, Barclays lowered their price objective on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $130.77.

Lennar Stock Performance

NYSE LEN traded down $4.90 on Tuesday, reaching $137.50. 3,699,340 shares of the company's stock traded hands, compared to its average volume of 3,116,328. The firm has a market cap of $35.61 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 6.05 and a beta of 1.33. The stock has a 50 day moving average price of $122.51 and a 200-day moving average price of $115.22. 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 quick ratio of 0.49 and a current ratio of 3.65.

Lennar (NYSE:LEN - Get Free Report) last posted its earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.94 by ($0.04). The business had revenue of $8.38 billion for 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 company's revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.45 earnings per share. Equities research analysts predict that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were given a dividend of $0.50 per share. The ex-dividend date was Thursday, July 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. Lennar's payout ratio is currently 16.54%.

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.