Entropy Technologies LP Purchases Shares of 78,944 Lennar Corporation $LEN

Entropy Technologies LP acquired a new position in Lennar Corporation (NYSE:LEN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 78,944 shares of the construction company’s stock, valued at approximately $6,855,000.

Several other institutional investors have also added to or reduced their stakes in LEN. Brighton Jones LLC grew its position in shares of Lennar by 27.9% during the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock valued at $236,000 after acquiring an additional 377 shares during the period. Intech Investment Management LLC lifted its position in Lennar by 29.8% during the first quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company’s stock valued at $1,589,000 after purchasing an additional 3,177 shares in the last quarter. Jump Financial LLC increased its position in Lennar by 15.0% in the second quarter. Jump Financial LLC now owns 25,622 shares of the construction company’s stock worth $2,834,000 after buying an additional 3,345 shares in the last quarter. Cary Street Partners Financial LLC bought a new position in shares of Lennar in the second quarter worth about $47,000. Finally, Daiwa Securities Group Inc. lifted its position in shares of Lennar by 4.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 34,958 shares of the construction company’s stock valued at $3,867,000 after buying an additional 1,544 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Lennar Stock Up 3.2%

Shares of LEN stock opened at $84.74 on Friday. The company’s fifty 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 P/E ratio of 13.26, a PEG ratio of 2.73 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 issued its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. The firm had revenue of $7.94 billion during the quarter, compared to analyst estimates of $8.08 billion. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.81 earnings per share. Analysts predict that Lennar Corporation will post 5.52 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 10th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. Lennar’s payout ratio is presently 31.30%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Seaport Research Partners reiterated a “sell” rating and set a $74.00 price objective (down from $140.00) on shares of Lennar in a research note on Tuesday, April 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Lennar in a research note on Thursday, June 11th. Citigroup lowered their target price on shares of Lennar from $104.00 to $88.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods dropped their target price on shares of Lennar from $86.00 to $85.00 and set an “underperform” rating for the company in a report on Wednesday, June 17th. Finally, Evercore raised their price target on Lennar from $82.00 to $87.00 and gave the company an “underperform” rating in a report on Monday, June 15th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $92.80.

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.