Strategic Blueprint LLC Acquires Shares of 2,536 Lennar Corporation (NYSE:LEN)

Strategic Blueprint LLC purchased a new position in shares of Lennar Corporation (NYSE:LEN - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 2,536 shares of the construction company's stock, valued at approximately $291,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Castlekeep Investment Advisors LLC bought a new stake in Lennar during the 4th quarter worth about $218,533,000. Wellington Management Group LLP grew its position in shares of Lennar by 18.9% in the 4th quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company's stock valued at $441,769,000 after purchasing an additional 515,378 shares during the period. D1 Capital Partners L.P. lifted its stake in Lennar by 67.3% in the 4th quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company's stock valued at $88,116,000 after acquiring an additional 270,433 shares in the last quarter. Man Group plc raised its stake in shares of Lennar by 112.5% during the 4th quarter. Man Group plc now owns 506,722 shares of the construction company's stock worth $69,102,000 after purchasing an additional 268,209 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Lennar by 3.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company's stock worth $834,115,000 after purchasing an additional 213,003 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Stock Performance

Shares of LEN traded up $3.00 during midday trading on Wednesday, reaching $113.42. 755,579 shares of the stock were exchanged, compared to its average volume of 2,710,234. The company has a market cap of $29.92 billion, a P/E ratio of 9.40, a PEG ratio of 4.50 and a beta of 1.33. The stock's 50 day simple moving average is $108.97 and its 200 day simple moving average is $117.72. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $187.61. 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 earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share for the quarter, missing analysts' consensus estimates of $1.94 by ($0.04). The firm had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.21 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%. Lennar's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.45 earnings per share. On average, sell-side analysts expect that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently disclosed 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 1.76%. Lennar's dividend payout ratio is currently 16.54%.

Analyst Ratings Changes

A number of research analysts have commented on LEN shares. Keefe, Bruyette & Woods decreased their price objective 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 cut their target price 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. Evercore ISI decreased their price objective on Lennar from $131.00 to $114.00 and set an "in-line" rating on the stock in a research note on Wednesday, June 18th. Zelman & Associates cut Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. Finally, JMP Securities decreased their target price on Lennar from $150.00 to $130.00 and set a "market outperform" rating for the company in a research report on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $128.85.

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.