Havemeyer Place LP Makes New $8.56 Million Investment in Lennar Corporation $LEN

Havemeyer Place LP bought a new stake in Lennar Corporation (NYSE:LEN) during the fourth quarter, Holdings Channel reports. The institutional investor bought 83,309 shares of the construction company’s stock, valued at approximately $8,564,000. Lennar accounts for 1.7% of Havemeyer Place LP’s holdings, making the stock its largest holding.

A number of other large investors also recently made changes to their positions in the business. Redmont Wealth Advisors LLC bought a new stake in shares of Lennar in the 3rd quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in Lennar during the third quarter worth approximately $25,000. High Point Wealth Management LLC bought a new stake in Lennar during the fourth quarter worth approximately $31,000. Washington Trust Advisors Inc. boosted its position in Lennar by 102.7% during the third quarter. Washington Trust Advisors Inc. now owns 371 shares of the construction company’s stock worth $47,000 after purchasing an additional 188 shares during the period. Finally, Cary Street Partners Financial LLC bought a new stake in Lennar during the second quarter worth approximately $47,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Down 1.4%

LEN opened at $90.63 on Friday. Lennar Corporation has a 1-year low of $81.18 and a 1-year high of $144.24. The company has a current ratio of 4.77, a quick ratio of 0.97 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $22.38 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 2.00 and a beta of 1.39. The business has a 50 day moving average of $88.97 and a 200-day moving average of $104.25.

Lennar (NYSE:LEN) last posted its quarterly earnings data 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 business had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.90 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. The firm’s revenue was down 13.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.14 earnings per share. As a group, sell-side analysts anticipate that Lennar Corporation will post 5.87 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, April 22nd. Lennar’s dividend payout ratio is presently 28.74%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LEN shares. Zacks Research raised Lennar from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. Wells Fargo & Company decreased their target price on Lennar from $100.00 to $90.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. UBS Group decreased their target price on Lennar from $122.00 to $107.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Argus reduced their price objective on Lennar from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Finally, Barclays reduced their price objective on Lennar from $85.00 to $80.00 and set an “underweight” rating for the company in a research report on Wednesday, April 8th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $99.87.

Lennar 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.