Price T Rowe Associates Inc. MD Buys 8,080 Shares of Lennar Corporation $LEN

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Lennar Corporation to $41.32 million, now owning 360,006 shares after purchasing an additional 8,080 shares during the 1st quarter.
• Lennar's latest quarterly earnings report showed an EPS of $1.90, which fell short of analyst expectations of $1.94, alongside a revenue of $8.38 billion.
• The company announced a quarterly dividend of $0.50 per share, representing an annual yield of 1.5% and a dividend payout ratio of 16.54%.

Price T Rowe Associates Inc. MD grew its holdings in shares of Lennar Corporation (NYSE:LEN - Free Report) by 2.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 360,006 shares of the construction company's stock after buying an additional 8,080 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.14% of Lennar worth $41,323,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Partners Capital Investment Group LLP acquired a new position in shares of Lennar during the first quarter worth approximately $278,000. Dorsey & Whitney Trust CO LLC raised its position in Lennar by 54.6% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 5,129 shares of the construction company's stock valued at $589,000 after buying an additional 1,811 shares during the last quarter. Voss Capital LP purchased a new stake in Lennar in the 1st quarter valued at $1,148,000. Credit Agricole S A raised its position in Lennar by 6.8% in the 1st quarter. Credit Agricole S A now owns 67,709 shares of the construction company's stock valued at $7,772,000 after buying an additional 4,307 shares during the last quarter. Finally, Berkshire Asset Management LLC PA purchased a new stake in Lennar in the 1st quarter valued at $33,394,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Stock Performance

Shares of LEN stock traded up $0.15 on Monday, hitting $133.28. 1,846,892 shares of the stock were exchanged, compared to its average volume of 3,105,015. The company has a current ratio of 3.65, a quick ratio of 0.49 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $34.52 billion, a PE ratio of 11.02, a P/E/G ratio of 5.65 and a beta of 1.33. Lennar Corporation has a one year low of $98.42 and a one year high of $193.80. The firm's 50 day moving average is $118.89 and its two-hundred day moving average is $114.45.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly 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). Lennar had a return on equity of 12.73% and a net margin of 9.20%.The firm had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. During the same quarter in the previous year, the company posted $3.45 EPS. The firm's revenue was down 4.4% compared to the same quarter last year. Sell-side analysts expect that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were paid a $0.50 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $2.00 annualized dividend and a yield of 1.5%. Lennar's dividend payout ratio (DPR) is currently 16.54%.

Wall Street Analyst Weigh In

LEN has been the subject of a number of analyst reports. Zelman & Associates lowered Lennar from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 18th. Bank of America decreased their target price on Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Wednesday, June 18th. Wedbush reaffirmed a "neutral" rating and set a $130.00 target price on shares of Lennar in a research report on Wednesday, June 18th. Keefe, Bruyette & Woods decreased 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. Finally, UBS Group decreased 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. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and fourteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $128.85.

Lennar Company 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.