Golden State Equity Partners Has $598,000 Position in Lennar Corporation (NYSE:LEN)

Golden State Equity Partners lifted its stake in Lennar Corporation (NYSE:LEN) by 33.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,214 shares of the construction company’s stock after purchasing an additional 1,300 shares during the period. Golden State Equity Partners’ holdings in Lennar were worth $598,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LEN. Hurley Capital LLC acquired a new stake in shares of Lennar in the fourth quarter valued at approximately $26,000. SBI Securities Co. Ltd. acquired a new stake in Lennar during the 4th quarter worth $28,000. Ameriflex Group Inc. acquired a new stake in Lennar during the 4th quarter worth $30,000. Opal Wealth Advisors LLC acquired a new stake in Lennar during the 1st quarter worth $30,000. Finally, NBC Securities Inc. acquired a new stake in Lennar during the 1st quarter worth $33,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Trading Down 1.7%

Shares of NYSE:LEN opened at $109.80 on Thursday. The company’s 50-day moving average price is $108.15 and its two-hundred day moving average price is $120.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. Lennar Corporation has a one year low of $98.42 and a one year high of $187.61. The stock has a market capitalization of $28.96 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 4.49 and a beta of 1.33.

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

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be issued a $0.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.82%. Lennar’s payout ratio is 16.54%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Seaport Res Ptn raised shares of Lennar from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. The Goldman Sachs Group decreased their price target on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating for the company in a report on Tuesday, March 25th. JMP Securities decreased their price target on shares of Lennar from $150.00 to $130.00 and set a “market outperform” rating for the company in a report on Friday, June 20th. Wall Street Zen lowered shares of Lennar from a “hold” rating to a “sell” rating in a report on Saturday, June 21st. Finally, Bank of America decreased their price target on shares of Lennar from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $132.50.

Lennar Profile

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.