SCS Capital Management LLC Makes New Investment in Lennar Corporation $LEN

Key Points

• SCS Capital Management LLC has acquired a new stake in Lennar Corporation, purchasing 3,659 shares valued at approximately $420,000.
• Analysts have recently upgraded their recommendations on Lennar's stock, with Zacks changing their rating from "strong sell" to "hold," and Wells Fargo increasing its price target from $110 to $135.
• Lennar reported a quarterly EPS of $1.90, missing estimates, but had revenue of $8.38 billion, slightly surpassing expectations; the company recently declared a quarterly dividend of $0.50.

SCS Capital Management LLC acquired 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 and Exchange Commission. The fund acquired 3,659 shares of the construction company's stock, valued at approximately $420,000.

Several other hedge funds have also modified their holdings of LEN. Ameriflex Group Inc. purchased a new stake in shares of Lennar in the fourth quarter valued at approximately $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Lennar during the 1st quarter worth $30,000. NBC Securities Inc. acquired a new position in shares of Lennar during the 1st quarter worth $33,000. Franchise Capital Ltd acquired a new stake in shares of Lennar in the first quarter valued at about $38,000. Finally, Disciplina Capital Management LLC boosted its holdings 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 buying an additional 214 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LEN shares. Zacks Research upgraded shares of Lennar from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. JMP Securities reduced 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. Wall Street Zen lowered Lennar from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Zelman & Associates lowered shares of Lennar from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 18th. Finally, Barclays lowered their target price on Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat, Lennar presently has a consensus rating of "Hold" and a consensus target price of $130.77.

Lennar Trading Down 2.1%

Shares of NYSE:LEN traded down $2.90 during midday trading on Friday, reaching $137.19. The company's stock had a trading volume of 2,852,061 shares, compared to its average volume of 2,835,821. The firm has a market cap of $35.53 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 5.83 and a beta of 1.33. The business has a 50 day moving average price of $124.07 and a 200 day moving average price of $115.53. 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 issued its quarterly 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). Lennar had a return on equity of 12.73% and a net margin of 9.20%.The business had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.21 billion. During the same period in the previous year, the business posted $3.45 earnings per share. The firm's quarterly revenue was down 4.4% on a year-over-year basis. Research analysts forecast that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

The business also recently declared 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 of this dividend was Thursday, July 3rd. This represents a $2.00 annualized dividend and a yield of 1.5%. Lennar's dividend payout ratio is 16.54%.

About Lennar

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.