TrueMark Investments LLC Purchases 29,713 Shares of Lennar Corporation $LEN

TrueMark Investments LLC increased its position in shares of Lennar Corporation (NYSE:LEN) by 126.6% during the 1st quarter, HoldingsChannel reports. The fund owned 53,187 shares of the construction company’s stock after purchasing an additional 29,713 shares during the quarter. TrueMark Investments LLC’s holdings in Lennar were worth $4,619,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LEN. Viking Global Investors LP raised its holdings in Lennar by 86.7% during the 2nd quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock worth $279,135,000 after purchasing an additional 1,172,068 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. boosted its stake in shares of Lennar by 90.9% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,963,373 shares of the construction company’s stock valued at $201,835,000 after purchasing an additional 934,856 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Lennar during the 4th quarter worth approximately $95,941,000. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Lennar by 14.6% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock worth $596,504,000 after buying an additional 603,004 shares during the last quarter. Finally, Bank of Nova Scotia lifted its holdings in Lennar by 1,303.1% in the fourth quarter. Bank of Nova Scotia now owns 490,105 shares of the construction company’s stock valued at $50,383,000 after buying an additional 455,174 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LEN has been the subject of a number of analyst reports. Truist Financial lowered their target price on shares of Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a report on Tuesday, March 31st. Barclays reduced their price target on Lennar from $80.00 to $79.00 and set an “underweight” rating on the stock in a research report on Monday, June 15th. Keefe, Bruyette & Woods dropped their price objective on Lennar from $86.00 to $85.00 and set an “underperform” rating for the company in a report on Wednesday, June 17th. Evercore increased their target price on Lennar from $82.00 to $87.00 and gave the company an “underperform” rating in a research note on Monday, June 15th. Finally, BTIG Research set a $67.00 target price on Lennar in a report on Monday, June 15th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $95.00.

Lennar Stock Up 6.3%

NYSE:LEN opened at $92.87 on Thursday. The stock has a market cap of $22.94 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 2.87 and a beta of 1.39. The company has a current ratio of 4.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average price of $89.58 and a two-hundred day moving average price of $100.88. Lennar Corporation has a 1 year low of $81.18 and a 1 year high of $144.24.

Lennar (NYSE:LEN) last released its quarterly earnings data 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. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The business had revenue of $7.94 billion for the quarter, compared to analysts’ expectations of $8.08 billion. During the same quarter in the previous year, the business posted $1.81 EPS. Lennar’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities analysts expect that Lennar Corporation will post 5.58 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were issued a dividend of $0.50 per share. 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 (DPR) is presently 31.30%.

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.