Voss Capital LP Makes New $1.15 Million Investment in Lennar Corporation $LEN

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Voss Capital LP acquired a new position in shares of Lennar Corporation (NYSE:LEN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,000 shares of the construction company's stock, valued at approximately $1,148,000.

Several other hedge funds also recently added to or reduced their stakes in LEN. Castlekeep Investment Advisors LLC acquired a new position in Lennar during the 4th quarter worth $218,533,000. ANTIPODES PARTNERS Ltd bought a new position in shares of Lennar in the 1st quarter worth about $41,788,000. AustralianSuper Pty Ltd bought a new position in shares of Lennar in the 1st quarter worth about $37,055,000. Berkshire Asset Management LLC PA bought a new position in shares of Lennar in the 1st quarter worth about $33,394,000. Finally, D1 Capital Partners L.P. lifted its position in shares of Lennar by 67.3% in the 4th 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 during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LEN. Bank of America reduced their price target on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 18th. Wall Street Zen downgraded shares of Lennar from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Keefe, Bruyette & Woods reduced their price target on shares of Lennar from $128.00 to $114.00 and set a "market perform" rating on the stock in a research report on Friday, June 20th. Barclays cut their price objective on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. Finally, Evercore ISI cut their price objective on shares of Lennar from $131.00 to $114.00 and set an "in-line" rating on the stock in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Lennar has an average rating of "Hold" and an average price target of $128.85.

Lennar Stock Down 0.4%

LEN stock opened at $131.43 on Tuesday. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $193.80. The company has a market capitalization of $34.04 billion, a price-to-earnings ratio of 10.87, a price-to-earnings-growth ratio of 5.60 and a beta of 1.29. The firm's 50-day moving average is $114.40 and its two-hundred day moving average is $113.94. The company has a current ratio of 3.65, a quick ratio of 0.49 and a debt-to-equity ratio of 0.12.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 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 company had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. During the same quarter last year, the firm posted $3.45 earnings per share. The firm's quarterly revenue was down 4.4% compared to the same quarter last year. On average, analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

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

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.

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