Redwood Investment Management LLC Invests $1.31 Million in Lennar Corporation $LEN

Key Points

• Redwood Investment Management LLC has initiated a new investment in Lennar Corporation by acquiring 11,435 shares valued at approximately $1.3 million.
• Several institutional investors and hedge funds, including Tokio Marine Asset Management and NorthRock Partners, have recently adjusted their positions in Lennar, with 81.10% of stock ownership held by such entities.
• Lennar's stock recently reported a 1.0% decrease and the company missed earnings expectations for the last quarter, while announcing a quarterly dividend of $0.50 per share.

Redwood Investment Management LLC purchased a new stake in shares of Lennar Corporation (NYSE:LEN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,435 shares of the construction company's stock, valued at approximately $1,313,000.

A number of other institutional investors have also recently made changes to their positions in LEN. Brighton Jones LLC lifted its position in shares of Lennar by 27.9% during the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company's stock valued at $236,000 after buying an additional 377 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Lennar by 0.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 351,926 shares of the construction company's stock valued at $47,993,000 after buying an additional 1,986 shares during the last quarter. Optiver Holding B.V. purchased a new stake in Lennar during the 4th quarter worth about $109,000. Lido Advisors LLC grew its holdings in Lennar by 113.2% during the 4th quarter. Lido Advisors LLC now owns 13,105 shares of the construction company's stock valued at $1,787,000 after buying an additional 6,959 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its position in shares of Lennar by 22.4% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 165,440 shares of the construction company's stock valued at $22,561,000 after buying an additional 30,292 shares during the period. Hedge funds and other institutional investors own 81.10% of the company's stock.

Lennar Stock Up 0.1%

NYSE:LEN traded up $0.15 during trading hours on Friday, reaching $133.28. 1,846,892 shares of the company traded hands, compared to its average volume of 3,194,609. The business's 50-day moving average price is $118.89 and its two-hundred day moving average price is $114.52. The stock has a market capitalization of $34.52 billion, a P/E ratio of 11.02, a P/E/G ratio of 5.65 and a beta of 1.29. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $193.80. The company has a current ratio of 3.65, a quick ratio of 0.49 and a debt-to-equity ratio of 0.12.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $8.38 billion for 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 quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.45 EPS. Analysts predict that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders 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 dividend yield of 1.5%. Lennar's payout ratio is currently 16.54%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LEN. Evercore ISI lowered their price target on shares of Lennar from $131.00 to $114.00 and set an "in-line" rating on the stock in a report on Wednesday, June 18th. UBS Group lowered their price target on Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. Keefe, Bruyette & Woods lowered 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. Royal Bank Of Canada reduced their price objective on Lennar from $122.00 to $98.00 and set a "sector perform" rating on the stock in a research report on Wednesday, June 18th. Finally, Wedbush restated a "neutral" rating and set a $130.00 price target on shares of Lennar in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fourteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus 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.