Strategic Blueprint LLC Invests $291,000 in Lennar Corporation (NYSE:LEN)

Strategic Blueprint LLC purchased a new position in shares of Lennar Corporation (NYSE:LEN) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 2,536 shares of the construction company’s stock, valued at approximately $291,000.

Several other hedge funds and other institutional investors have also made changes to their positions in LEN. Brighton Jones LLC raised its stake in shares of Lennar by 27.9% during the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after buying an additional 377 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Lennar during the 4th quarter worth $28,000. Steward Partners Investment Advisory LLC raised its stake in shares of Lennar by 12.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,400 shares of the construction company’s stock worth $1,418,000 after buying an additional 1,124 shares during the last quarter. Candriam S.C.A. raised its stake in shares of Lennar by 47.9% during the 4th quarter. Candriam S.C.A. now owns 17,649 shares of the construction company’s stock worth $2,407,000 after buying an additional 5,718 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Lennar in the 4th quarter valued at about $206,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Lennar from a “hold” rating to a “sell” rating in a research note on Saturday, June 21st. The Goldman Sachs Group cut their target price on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Barclays cut their target price on shares of Lennar from $110.00 to $95.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 18th. Bank of America cut their target price on shares of Lennar from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, June 18th. Finally, JMP Securities cut their target price on shares of Lennar from $150.00 to $130.00 and set a “market outperform” rating for the company in a research note on Friday, June 20th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $128.85.

Lennar Stock Down 0.8%

Shares of NYSE:LEN opened at $109.28 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. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $187.61. The stock has a market capitalization of $28.83 billion, a P/E ratio of 9.04, a PEG ratio of 4.54 and a beta of 1.33. The stock has a 50-day simple moving average of $108.91 and a 200-day simple moving average of $117.77.

Lennar (NYSE:LEN) last issued its earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.04). Lennar had a return on equity of 12.73% and a net margin of 9.20%. The firm had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.21 billion. During the same quarter in the previous year, the firm posted $3.45 EPS. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. Equities analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Thursday, July 3rd. Lennar’s dividend payout ratio 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.