TrueMark Investments LLC Acquires 29,713 Shares of Lennar Corporation $LEN

TrueMark Investments LLC boosted its holdings in shares of Lennar Corporation (NYSE:LEN) by 126.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,187 shares of the construction company’s stock after purchasing an additional 29,713 shares during the quarter. TrueMark Investments LLC’s holdings in Lennar were worth $4,619,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. First PREMIER Bank increased its position in Lennar by 67.6% during the first quarter. First PREMIER Bank now owns 1,054 shares of the construction company’s stock worth $92,000 after acquiring an additional 425 shares during the period. OP Asset Management Ltd bought a new stake in Lennar in the 1st quarter valued at $1,948,000. Banque Cantonale Vaudoise acquired a new stake in Lennar in the 1st quarter worth $232,000. Apella Capital LLC bought a new position in shares of Lennar during the 1st quarter worth about $222,000. Finally, Cidel Asset Management Inc. raised its position in shares of Lennar by 25.6% during the first quarter. Cidel Asset Management Inc. now owns 4,216 shares of the construction company’s stock valued at $366,000 after buying an additional 858 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Price Performance

Shares of LEN stock opened at $92.87 on Thursday. Lennar Corporation has a 52 week low of $81.18 and a 52 week high of $144.24. The stock has a market capitalization of $22.94 billion, a PE ratio of 14.53, a PEG ratio of 2.87 and a beta of 1.39. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91. The stock’s fifty day moving average is $89.58 and its 200-day moving average is $100.88.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The business had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $8.08 billion. During the same period in the previous year, the business posted $1.81 earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. Equities research analysts expect that Lennar Corporation will post 5.58 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, April 22nd. Lennar’s dividend payout ratio is presently 31.30%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LEN shares. Argus lowered their price target on Lennar from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. BTIG Research set a $67.00 price objective on Lennar in a report on Monday, June 15th. Bank of America lowered their price objective on Lennar from $84.00 to $77.00 and set an “underperform” rating on the stock in a research report on Friday, June 12th. Weiss Ratings restated a “sell (d+)” rating on shares of Lennar in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Lennar in a research report on Friday, June 5th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $95.00.

About Lennar

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.