Union Square Park Capital Management LLC Purchases New Shares in Lennar Corporation $LEN

Union Square Park Capital Management LLC acquired a new position in Lennar Corporation (NYSE:LEN) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,000 shares of the construction company’s stock, valued at approximately $868,000.

Other institutional investors also recently modified their holdings of the company. Lombard Odier Asset Management Switzerland SA purchased a new stake in Lennar during the 1st quarter valued at $304,000. Waverly Advisors LLC lifted its position in Lennar by 32.8% during the first quarter. Waverly Advisors LLC now owns 7,083 shares of the construction company’s stock valued at $615,000 after purchasing an additional 1,749 shares during the period. Entropy Technologies LP purchased a new stake in Lennar during the 1st quarter valued at $6,855,000. Caxton Associates LLP lifted its holdings in shares of Lennar by 875.8% during the 1st quarter. Caxton Associates LLP now owns 45,589 shares of the construction company’s stock valued at $3,959,000 after buying an additional 40,917 shares during the period. Finally, Capula Management Ltd purchased a new position in shares of Lennar in the 1st quarter worth $2,349,000. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LEN has been the topic of a number of recent research reports. Evercore increased their target price on Lennar from $82.00 to $87.00 and gave the company an “underperform” rating in a report on Monday, June 15th. JPMorgan Chase & Co. dropped their price objective on shares of Lennar from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Tuesday, June 16th. Seaport Research Partners restated a “sell” rating and set a $74.00 target price (down from $140.00) on shares of Lennar in a research report on Tuesday, April 7th. Zacks Research downgraded shares of Lennar from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 16th. Finally, Wells Fargo & Company cut their price objective on shares of Lennar from $90.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and ten have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $92.80.

Lennar Price Performance

NYSE:LEN opened at $84.74 on Friday. The business’s 50-day simple moving average is $88.00 and its two-hundred day simple moving average is $97.13. Lennar Corporation has a 52 week low of $79.82 and a 52 week high of $144.24. The stock has a market cap of $20.41 billion, a PE ratio of 13.26, a P/E/G ratio of 2.81 and a beta of 1.38. The company has a quick ratio of 0.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.19.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, topping 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 firm had revenue of $7.94 billion during the quarter, compared to analyst estimates of $8.08 billion. During the same quarter in the prior year, the company posted $1.81 earnings per share. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, analysts forecast that Lennar Corporation will post 5.52 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 10th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, July 10th. Lennar’s dividend payout ratio (DPR) is currently 31.30%.

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.