5,857 Shares in Lennar Corporation $LEN Bought by United Services Automobile Association

Key Points

• United Services Automobile Association has invested approximately $667,000 in Lennar Corporation, acquiring 5,857 shares during the first quarter.
• Lennar's stock has drawn mixed reviews from analysts, with Wells Fargo raising its target price to $135.00 while others have downgraded their ratings, maintaining an average price target of $130.77.
• The company reported a quarterly earnings per share of $1.90, which fell short of analysts' expectations, and announced a quarterly dividend of $0.50 per share with a yield of 1.5%.

United Services Automobile Association purchased a new position in Lennar Corporation (NYSE:LEN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,857 shares of the construction company's stock, valued at approximately $667,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Lennar by 1.2% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,719 shares of the construction company's stock worth $886,000 after purchasing an additional 89 shares in the last quarter. NorthRock Partners LLC boosted its holdings in Lennar by 1.4% in the first quarter. NorthRock Partners LLC now owns 6,509 shares of the construction company's stock worth $747,000 after acquiring an additional 93 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in shares of Lennar by 1.1% in the first quarter. Valeo Financial Advisors LLC now owns 8,841 shares of the construction company's stock worth $1,015,000 after acquiring an additional 95 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Lennar by 2.3% during the first quarter. EP Wealth Advisors LLC now owns 4,782 shares of the construction company's stock valued at $549,000 after acquiring an additional 107 shares in the last quarter. Finally, Mather Group LLC. boosted its stake in Lennar by 8.4% in the 1st quarter. Mather Group LLC. now owns 1,517 shares of the construction company's stock worth $174,000 after purchasing an additional 117 shares in the last quarter. Institutional investors own 81.10% of the company's stock.

Lennar Stock Performance

Shares of Lennar stock traded down $2.90 during trading hours on Friday, reaching $137.19. 2,852,061 shares of the stock traded hands, compared to its average volume of 2,951,826. The company has a 50 day moving average price of $124.07 and a 200 day moving average price of $115.60. Lennar Corporation has a one year low of $98.42 and a one 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. The firm has a market capitalization of $35.53 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 5.95 and a beta of 1.33.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.94 by ($0.04). The business had revenue of $8.38 billion during the quarter, compared to analysts' expectations of $8.21 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%.The business's quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.45 EPS. On average, equities research analysts expect that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

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

Analyst Upgrades and Downgrades

LEN has been the subject of several recent analyst reports. Wall Street Zen cut shares of Lennar from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. JMP Securities decreased their price objective on shares of Lennar from $150.00 to $130.00 and set a "market outperform" rating for the company in a report on Friday, June 20th. Zacks Research upgraded Lennar from a "strong sell" rating to a "hold" rating in a research note on Monday. Keefe, Bruyette & Woods decreased their price target on Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a research note on Friday, June 20th. Finally, Bank of America dropped their price objective on Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $130.77.

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.