10,900 Shares in Lennar Corporation $LEN Purchased by VeriStar Capital Management LP

VeriStar Capital Management LP purchased a new position in Lennar Corporation (NYSE:LEN) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 10,900 shares of the construction company’s stock, valued at approximately $1,251,000. Lennar makes up 2.3% of VeriStar Capital Management LP’s portfolio, making the stock its 14th largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. EP Wealth Advisors LLC raised its position in Lennar by 2.3% in the 1st quarter. EP Wealth Advisors LLC now owns 4,782 shares of the construction company’s stock worth $549,000 after purchasing an additional 107 shares during the period. Brave Warrior Advisors LLC raised its position 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 worth $251,323,000 after purchasing an additional 415,218 shares during the period. One Wealth Capital Management LLC raised its position in Lennar by 7.7% in the 1st quarter. One Wealth Capital Management LLC now owns 1,943 shares of the construction company’s stock worth $223,000 after purchasing an additional 139 shares during the period. Graham Capital Management L.P. raised its position in Lennar by 223.0% in the 1st quarter. Graham Capital Management L.P. now owns 11,835 shares of the construction company’s stock worth $1,358,000 after purchasing an additional 8,171 shares during the period. Finally, Armistice Capital LLC purchased a new stake in Lennar in the 1st quarter worth about $4,017,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wedbush reissued a “neutral” rating and issued a $130.00 price objective on shares of Lennar in a research report on Wednesday, June 18th. JMP Securities reduced their price objective on shares of Lennar from $150.00 to $130.00 and set a “market outperform” rating on the stock in a research report on Friday, June 20th. Wall Street Zen lowered shares of Lennar from a “hold” rating to a “sell” rating in a research report on Saturday, June 21st. UBS Group dropped their target price on shares of Lennar from $164.00 to $146.00 and set a “buy” rating on the stock in a research note on Wednesday, June 18th. Finally, Zelman & Associates lowered shares of Lennar from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, Lennar currently has an average rating of “Hold” and a consensus price target of $128.85.

Lennar Stock Performance

Shares of NYSE:LEN opened at $133.28 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.49 and a current ratio of 3.65. The firm has a market cap of $34.52 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 5.65 and a beta of 1.33. The firm’s 50 day simple moving average is $119.34 and its 200-day simple moving average is $114.52. Lennar Corporation has a one year low of $98.42 and a one year high of $193.80.

Lennar (NYSE:LEN) last posted its 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). The business had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.21 billion. Lennar had a net margin of 9.20% and a return on equity of 12.73%. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the business posted $3.45 EPS. As a group, equities analysts predict that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The firm 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 yield of 1.5%. The ex-dividend date of this dividend was Thursday, July 3rd. Lennar’s dividend payout ratio (DPR) is presently 16.54%.

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.