OP Asset Management Ltd Takes Position in Lennar Corporation $LEN

OP Asset Management Ltd acquired a new position in Lennar Corporation (NYSE:LEN) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 22,437 shares of the construction company’s stock, valued at approximately $1,948,000.

Several other hedge funds have also recently bought and sold shares of the company. KERR FINANCIAL PLANNING Corp bought a new position in Lennar in the 3rd quarter worth about $25,000. DV Equities LLC acquired a new position in shares of Lennar during the fourth quarter worth approximately $31,000. High Point Wealth Management LLC bought a new position in Lennar in the 4th quarter worth approximately $31,000. Quarry LP bought a new position in Lennar in the 4th quarter worth approximately $41,000. Finally, Cary Street Partners Financial LLC acquired a new stake in Lennar in the 2nd quarter valued at approximately $47,000. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Lennar in a research note on Thursday, June 11th. Wells Fargo & Company cut their price objective on shares of Lennar from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday, June 15th. BTIG Research set a $67.00 price objective on shares of Lennar in a report on Monday, June 15th. UBS Group lowered their target price on shares of Lennar from $107.00 to $94.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 16th. Finally, Zacks Research downgraded shares of Lennar from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and ten have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $95.00.

Lennar Stock Up 0.0%

LEN opened at $93.54 on Monday. Lennar Corporation has a one year low of $81.18 and a one year high of $144.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91. The stock’s fifty day moving average is $89.78 and its 200-day moving average is $100.48. The company has a market capitalization of $23.10 billion, a PE ratio of 14.64, a P/E/G ratio of 3.07 and a beta of 1.39.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.07. The business had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $8.08 billion. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.81 earnings per share. On average, equities analysts predict that Lennar Corporation will post 5.58 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, July 10th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. Lennar’s dividend payout ratio (DPR) is 31.30%.

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.