Y Intercept Hong Kong Ltd Has $6.28 Million Holdings in Lennar Corporation $LEN

Y Intercept Hong Kong Ltd grew its holdings in Lennar Corporation (NYSE:LEN) by 754.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,304 shares of the construction company’s stock after acquiring an additional 63,839 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Lennar were worth $6,279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of LEN. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Lennar by 28.3% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,356 shares of the construction company’s stock worth $4,199,000 after purchasing an additional 10,674 shares during the period. Sage Investment Counsel LLC lifted its stake in shares of Lennar by 10.6% in the first quarter. Sage Investment Counsel LLC now owns 14,413 shares of the construction company’s stock valued at $1,252,000 after buying an additional 1,384 shares during the period. Essex Financial Services Inc. grew its position in Lennar by 25.5% during the first quarter. Essex Financial Services Inc. now owns 2,559 shares of the construction company’s stock worth $222,000 after buying an additional 520 shares in the last quarter. MQS Management LLC bought a new position in Lennar during the first quarter valued at about $469,000. Finally, Patton Fund Management Inc. bought a new position in Lennar during the first quarter valued at about $295,000. Institutional investors own 81.10% of the company’s stock.

Lennar Trading Down 0.1%

Shares of LEN stock opened at $88.15 on Friday. The company has a market capitalization of $21.24 billion, a P/E ratio of 13.80, a P/E/G ratio of 2.93 and a beta of 1.38. Lennar Corporation has a 12-month low of $81.18 and a 12-month high of $144.24. The company has a quick ratio of 0.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $89.38 and a 200 day moving average price of $99.56.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.07. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The firm had revenue of $7.94 billion for the quarter, compared to analysts’ expectations of $8.08 billion. During the same period in the prior year, the firm earned $1.81 earnings per share. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. Research analysts forecast that Lennar Corporation will post 5.51 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Friday, July 10th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, July 10th. Lennar’s dividend payout ratio (DPR) is currently 31.30%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LEN. Evercore upped their target price on Lennar from $82.00 to $87.00 and gave the company an “underperform” rating in a research note on Monday, June 15th. Wells Fargo & Company lowered their price target on shares of Lennar from $90.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, June 15th. BTIG Research set a $67.00 price objective on shares of Lennar in a research note on Monday, June 15th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Lennar in a report on Friday, June 5th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Lennar in a research report on Thursday, June 11th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have given a Sell rating to the company. According to MarketBeat.com, Lennar has a consensus rating of “Reduce” and an average target price of $95.00.

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.