Lennar Corporation (NYSE:LEN) Shares Bought by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. boosted its holdings in shares of Lennar Corporation (NYSE:LEN) by 50.0% in the first quarter, HoldingsChannel reports. The firm owned 2,250 shares of the construction company’s stock after buying an additional 750 shares during the period. Levin Capital Strategies L.P.’s holdings in Lennar were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LEN. Brighton Jones LLC raised its position in shares of Lennar by 27.9% in the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after acquiring an additional 377 shares during the period. World Investment Advisors raised its position in shares of Lennar by 25.0% in the fourth quarter. World Investment Advisors now owns 1,671 shares of the construction company’s stock worth $228,000 after acquiring an additional 334 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in shares of Lennar in the fourth quarter worth about $10,250,000. Polymer Capital Management US LLC acquired a new position in shares of Lennar in the fourth quarter worth about $823,000. Finally, Bank of Nova Scotia raised its position in shares of Lennar by 120.8% in the fourth quarter. Bank of Nova Scotia now owns 223,311 shares of the construction company’s stock worth $30,453,000 after acquiring an additional 122,169 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Up 2.5%

Shares of NYSE LEN opened at $118.92 on Tuesday. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $193.80. The stock has a market cap of $30.80 billion, a PE ratio of 9.84, a P/E/G ratio of 4.92 and a beta of 1.29. The company has a current ratio of 3.65, a quick ratio of 0.49 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average of $110.91 and a 200 day moving average of $114.64.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.04). Lennar had a net margin of 9.20% and a return on equity of 12.73%. The business had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.21 billion. During the same period in the prior year, the company posted $3.45 EPS. The firm’s revenue was down 4.4% on a year-over-year basis. As a group, sell-side analysts predict that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently declared 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 1.7%. Lennar’s dividend payout ratio is 16.54%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LEN. Keefe, Bruyette & Woods decreased their price objective 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. Evercore ISI decreased their price objective on shares of Lennar from $131.00 to $114.00 and set an “in-line” rating for the company in a research report on Wednesday, June 18th. Wedbush reissued a “neutral” rating and set a $130.00 target price on shares of Lennar in a research note on Wednesday, June 18th. JMP Securities reduced their price target 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. Finally, Wells Fargo & Company reduced their price target on shares of Lennar from $120.00 to $110.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.