UniSuper Management Pty Ltd Purchases 2,902 Shares of Lennar Corporation $LEN

Key Points

• UniSuper Management Pty Ltd increased its stake in Lennar Corporation by 13.6%, acquiring an additional 2,902 shares, bringing its total ownership to 24,242 shares valued at approximately $2.78 million.
• A variety of institutional investors have also adjusted their holdings in Lennar, with several increasing their stakes significantly during the last quarter, indicating a strong interest in the company among institutional investors.
• In the most recent earnings report, Lennar Corporation missed earnings estimates with earnings per share of $1.90 compared to the expected $1.94, while revenue was reported at $8.38 billion, surpassing estimates.

UniSuper Management Pty Ltd grew its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 13.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,242 shares of the construction company's stock after acquiring an additional 2,902 shares during the period. UniSuper Management Pty Ltd's holdings in Lennar were worth $2,782,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position in Lennar by 45.4% during the first quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company's stock worth $1,020,866,000 after buying an additional 2,777,567 shares in the last quarter. Eminence Capital LP increased its holdings in Lennar by 130.8% in the 1st quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company's stock valued at $181,523,000 after purchasing an additional 896,264 shares in the last quarter. Brave Warrior Advisors LLC increased its holdings in Lennar by 23.4% in the 1st quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company's stock valued at $251,323,000 after purchasing an additional 415,218 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in Lennar in the 1st quarter valued at $41,788,000. Finally, Ceredex Value Advisors LLC acquired a new stake in Lennar during the 1st quarter valued at $38,125,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Down 2.1%

LEN stock traded down $2.90 during trading hours on Friday, hitting $137.19. The company's stock had a trading volume of 2,852,061 shares, compared to its average volume of 2,951,826. The company has a quick ratio of 0.49, a current ratio of 3.65 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $35.53 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 5.95 and a beta of 1.33. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $193.80. The stock has a 50 day moving average price of $124.07 and a two-hundred day moving average price of $115.60.

Lennar (NYSE:LEN - Get Free Report) last posted its earnings results on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.04). The business had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.21 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%.The business's revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.45 earnings per share. On average, equities research analysts expect that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, July 3rd. Lennar's dividend payout ratio is currently 16.54%.

Analysts Set New Price Targets

LEN has been the subject of several research analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a research report on Friday, June 20th. JMP Securities decreased their target price on shares of Lennar from $150.00 to $130.00 and set a "market outperform" rating for the company in a research report on Friday, June 20th. Bank of America decreased their target price on shares of 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 issued a $130.00 price target on shares of Lennar in a research note on Wednesday, June 18th. Finally, Barclays dropped their target price on shares of 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 assigned a Buy rating and fifteen have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $130.77.

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.