AXQ Capital LP Acquires 19,455 Shares of Lennar Corporation $LEN

AXQ Capital LP boosted its holdings in shares of Lennar Corporation (NYSE:LEN) by 517.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,213 shares of the construction company’s stock after purchasing an additional 19,455 shares during the period. Lennar accounts for approximately 0.5% of AXQ Capital LP’s holdings, making the stock its 15th largest holding. AXQ Capital LP’s holdings in Lennar were worth $2,386,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cibc World Market Inc. increased its holdings in Lennar by 993.0% during the 3rd quarter. Cibc World Market Inc. now owns 129,487 shares of the construction company’s stock valued at $16,321,000 after purchasing an additional 117,640 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Lennar by 5.9% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 466,027 shares of the construction company’s stock worth $58,738,000 after purchasing an additional 26,117 shares during the last quarter. Boothbay Fund Management LLC grew its stake in shares of Lennar by 201.1% during the third quarter. Boothbay Fund Management LLC now owns 24,004 shares of the construction company’s stock worth $3,025,000 after purchasing an additional 16,031 shares during the period. Tounjian Advisory Partners LLC acquired a new stake in shares of Lennar during the fourth quarter worth $2,599,000. Finally, Coronation Fund Managers Ltd. acquired a new stake in shares of Lennar during the third quarter worth $14,160,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Stock Up 0.4%

NYSE:LEN opened at $90.18 on Tuesday. The stock has a 50-day simple moving average of $89.07 and a 200 day simple moving average of $105.00. Lennar Corporation has a 52-week low of $81.18 and a 52-week high of $144.24. The company has a market cap of $22.27 billion, a PE ratio of 12.96, a PEG ratio of 1.98 and a beta of 1.39. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 4.77.

Lennar (NYSE:LEN) last released its quarterly earnings results 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 firm had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same period last year, the company earned $2.14 EPS. The company’s revenue was down 13.3% compared to the same quarter last year. On average, sell-side analysts expect that Lennar Corporation will post 5.87 EPS for the current fiscal year.

Lennar Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently commented on LEN. Barclays decreased their price objective on Lennar from $85.00 to $80.00 and set an “underweight” rating for the company in a research note on Wednesday, April 8th. Argus decreased their price objective on Lennar from $140.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Keefe, Bruyette & Woods decreased their price objective on Lennar from $105.00 to $97.00 and set a “market perform” rating for the company in a research note on Wednesday, April 1st. UBS Group decreased their price objective on Lennar from $122.00 to $107.00 and set a “neutral” rating for the company in a research note on Monday, March 16th. Finally, Truist Financial decreased their price objective on Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Tuesday, March 31st. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and eight have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $99.87.

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.