Havemeyer Place LP Invests $8.56 Million in Lennar Corporation $LEN

Havemeyer Place LP acquired a new position in shares of Lennar Corporation (NYSE:LEN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 83,309 shares of the construction company’s stock, valued at approximately $8,564,000. Lennar comprises about 1.7% of Havemeyer Place LP’s holdings, making the stock its biggest holding.

Several other institutional investors have also modified their holdings of LEN. Cibc World Market Inc. raised its position in Lennar by 993.0% in the 3rd quarter. Cibc World Market Inc. now owns 129,487 shares of the construction company’s stock valued at $16,321,000 after purchasing an additional 117,640 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Lennar by 5.9% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 466,027 shares of the construction company’s stock valued at $58,738,000 after purchasing an additional 26,117 shares during the last quarter. Boothbay Fund Management LLC raised its position in Lennar by 201.1% in the 3rd quarter. Boothbay Fund Management LLC now owns 24,004 shares of the construction company’s stock valued at $3,025,000 after purchasing an additional 16,031 shares during the last quarter. Tounjian Advisory Partners LLC purchased a new stake in Lennar in the 4th quarter valued at $2,599,000. Finally, Coronation Fund Managers Ltd. purchased a new stake in Lennar in the 3rd quarter valued at $14,160,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Stock Down 1.4%

Shares of Lennar stock opened at $90.63 on Friday. The company has a market cap of $22.38 billion, a P/E ratio of 13.02, a PEG ratio of 2.00 and a beta of 1.39. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 4.77. Lennar Corporation has a one year low of $81.18 and a one year high of $144.24. The firm has a fifty day moving average of $88.97 and a two-hundred day moving average of $104.25.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, March 12th. The construction company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). Lennar had a return on equity of 7.80% and a net margin of 5.39%.The firm had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the previous year, the company posted $2.14 EPS. The firm’s quarterly revenue was down 13.3% compared to the same quarter last year. On average, analysts forecast that Lennar Corporation will post 5.87 earnings per share for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. Lennar’s dividend payout ratio (DPR) is currently 28.74%.

Wall Street Analyst Weigh In

LEN has been the subject of several research reports. Truist Financial reduced their price target on shares of Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Tuesday, March 31st. Seaport Research Partners reiterated a “sell” rating and issued a $74.00 price target (down from $140.00) on shares of Lennar in a research report on Tuesday, April 7th. Weiss Ratings downgraded shares of Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 16th. Evercore reduced their price target on shares of Lennar from $89.00 to $82.00 and set an “underperform” rating for the company in a research report on Monday, April 13th. Finally, Argus cut their price objective on shares of Lennar from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and eight have issued a Sell rating to the company’s stock. According to MarketBeat.com, Lennar has a consensus rating of “Reduce” and a consensus target price of $99.87.

Lennar Company Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.