Legato Capital Management LLC Acquires New Position in Lennar Corporation $LEN

Legato Capital Management LLC acquired a new stake in shares of Lennar Corporation (NYSE:LEN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 18,000 shares of the construction company’s stock, valued at approximately $1,850,000.

A number of other institutional investors have also recently made changes to their positions in LEN. Guerra Advisors Inc purchased a new stake in shares of Lennar during the third quarter valued at approximately $25,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Lennar in the 3rd quarter worth approximately $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of Lennar in the 3rd quarter worth approximately $26,000. High Point Wealth Management LLC purchased a new position in Lennar during the fourth quarter valued at $31,000. Finally, Washington Trust Advisors Inc. grew its position in shares of Lennar by 102.7% in 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 during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

NYSE LEN opened at $88.86 on Friday. The firm has a market cap of $21.95 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 1.96 and a beta of 1.41. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $89.67 and a 200-day moving average price of $106.47. Lennar Corporation has a twelve month low of $81.18 and a twelve month high of $144.24.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). Lennar had a return on equity of 7.80% and a net margin of 5.39%.The business had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period last year, the company earned $2.14 EPS. The business’s revenue was down 13.3% on a year-over-year basis. As a group, equities research analysts predict that Lennar Corporation will post 5.87 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, April 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. Lennar’s dividend payout ratio is 28.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Barclays dropped their target price on Lennar from $85.00 to $80.00 and set an “underweight” rating on the stock in a report on Wednesday, April 8th. Weiss Ratings cut Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 16th. Citigroup decreased their price target on Lennar from $113.00 to $104.00 and set a “neutral” rating for the company in a research note on Tuesday, March 17th. Truist Financial reduced their price objective on Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Tuesday, March 31st. Finally, UBS Group reduced their price objective on Lennar from $122.00 to $107.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat.com, Lennar presently has an average rating of “Reduce” and an average target price of $99.87.

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.