Permanens Capital L.P. Takes Position in Lennar Corporation $LEN

Key Points

• Permanens Capital L.P. acquired a new stake in Lennar Corporation by purchasing 6,961 shares, valued at approximately $799,000, in the first quarter of the year.
• Lennar reported an earnings per share (EPS) of $1.90 for the latest quarter, missing analysts' expectations, while revenue was $8.38 billion, exceeding consensus estimates.
• The company declared a quarterly dividend of $0.50, resulting in a 1.4% yield with a payout ratio of 16.54%.

Permanens Capital L.P. bought a new stake in Lennar Corporation (NYSE:LEN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,961 shares of the construction company's stock, valued at approximately $799,000.

A number of other institutional investors and hedge funds have also made changes to their positions in LEN. Ameriflex Group Inc. acquired a new stake in Lennar in the 4th quarter valued at approximately $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Lennar in the 1st quarter valued at $30,000. NBC Securities Inc. acquired a new position in Lennar during the 1st quarter worth about $33,000. Franchise Capital Ltd purchased a new position in Lennar during the 1st quarter valued at about $38,000. Finally, Disciplina Capital Management LLC increased its stake in Lennar by 179.8% during the first quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company's stock worth $38,000 after purchasing an additional 214 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LEN shares. Barclays cut their target price on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Zacks Research upgraded Lennar from a "strong sell" rating to a "hold" rating in a report on Monday. Keefe, Bruyette & Woods cut their price target on Lennar from $128.00 to $114.00 and set a "market perform" rating on the stock in a report on Friday, June 20th. UBS Group decreased their price objective on Lennar from $164.00 to $146.00 and set a "buy" rating for the company in a research note on Wednesday, June 18th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $130.00 target price on shares of Lennar in a report on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Lennar presently has a consensus rating of "Hold" and a consensus target price of $130.77.

Lennar Stock Performance

LEN traded up $3.62 on Thursday, reaching $140.20. The company had a trading volume of 2,465,600 shares, compared to its average volume of 3,162,038. The stock has a 50-day moving average price of $122.94 and a 200-day moving average price of $115.37. The stock has a market capitalization of $36.31 billion, a PE ratio of 11.60, a P/E/G ratio of 5.83 and a beta of 1.33. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $193.80. The company has a quick ratio of 0.49, a current ratio of 3.65 and a debt-to-equity ratio of 0.12.

Lennar (NYSE:LEN - Get Free Report) last posted its earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share 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 analysts' expectations of $8.21 billion. Lennar had a net margin of 9.20% and a return on equity of 12.73%. The firm's revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.45 earnings per share. As a group, research analysts forecast that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Thursday, July 3rd. Lennar's dividend payout ratio (DPR) is presently 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.