Strategic Blueprint LLC Invests $291,000 in Lennar Corporation (NYSE:LEN)

Strategic Blueprint LLC bought a new position in shares of Lennar Corporation (NYSE:LEN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,536 shares of the construction company's stock, valued at approximately $291,000.

Other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in shares of Lennar by 3.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company's stock worth $834,115,000 after buying an additional 213,003 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Lennar by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company's stock worth $441,769,000 after buying an additional 515,378 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in shares of Lennar in the fourth quarter worth $218,533,000. Eminence Capital LP raised its position in shares of Lennar by 43.4% in the fourth quarter. Eminence Capital LP now owns 685,225 shares of the construction company's stock worth $93,444,000 after buying an additional 207,343 shares in the last quarter. Finally, D1 Capital Partners L.P. raised its position in shares of Lennar by 67.3% in the fourth quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company's stock worth $88,116,000 after buying an additional 270,433 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Lennar Trading Up 1.1%

NYSE:LEN traded up $1.17 during mid-day trading on Tuesday, reaching $110.39. 3,037,222 shares of the company's stock traded hands, compared to its average volume of 3,201,964. The company has a 50 day moving average price of $108.91 and a 200-day moving average price of $117.77. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. The firm has a market capitalization of $29.12 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 4.54 and a beta of 1.33. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $193.80.

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

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be given a $0.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.81%. Lennar's dividend payout ratio is currently 16.54%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LEN. 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 research report on Friday, June 20th. Bank of America lowered their price target on Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 18th. Wells Fargo & Company lowered their price target on Lennar from $120.00 to $110.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Wedbush restated a "neutral" rating and set a $130.00 price target on shares of Lennar in a research report on Wednesday, June 18th. Finally, Barclays reduced their price objective on Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price 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.