Legato Capital Management LLC Invests $1.85 Million in Lennar Corporation $LEN

Legato Capital Management LLC bought a new position in shares of Lennar Corporation (NYSE:LEN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 18,000 shares of the construction company’s stock, valued at approximately $1,850,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Guerra Advisors Inc acquired a new stake in shares of Lennar in the 3rd quarter valued at $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Lennar in the 3rd quarter valued at $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Lennar in the 3rd quarter valued at $25,000. High Point Wealth Management LLC acquired a new position in Lennar during the 4th quarter worth about $31,000. Finally, Washington Trust Advisors Inc. lifted its position in Lennar by 102.7% during the 3rd quarter. Washington Trust Advisors Inc. now owns 371 shares of the construction company’s stock worth $47,000 after buying an additional 188 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LEN shares. Evercore cut their target price on shares of Lennar from $89.00 to $82.00 and set an “underperform” rating on the stock in a research report on Monday, April 13th. Keefe, Bruyette & Woods lowered their price target on Lennar from $105.00 to $97.00 and set a “market perform” rating for the company in a research note on Wednesday, April 1st. Zacks Research raised Lennar from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Weiss Ratings cut Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 16th. Finally, Citigroup dropped their target price on shares of Lennar from $113.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and eight have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $99.87.

Lennar Stock Up 0.0%

Shares of NYSE:LEN opened at $88.86 on Friday. The company has a market capitalization of $21.95 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 1.96 and a beta of 1.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97. The business has a fifty day moving average price of $89.67 and a two-hundred day moving average price of $106.47. Lennar Corporation has a 1 year low of $81.18 and a 1 year high of $144.24.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.07). The firm had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.The firm’s revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.14 EPS. 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. Shareholders of record on Wednesday, April 22nd were paid a $0.50 dividend. The ex-dividend date was Wednesday, April 22nd. This represents a $2.00 annualized dividend and a yield of 2.3%. Lennar’s dividend payout ratio (DPR) is currently 28.74%.

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.