OP Asset Management Ltd Takes $1.95 Million Position in Lennar Corporation $LEN

OP Asset Management Ltd bought a new position in shares of Lennar Corporation (NYSE:LEN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,437 shares of the construction company’s stock, valued at approximately $1,948,000.

A number of other large investors have also added to or reduced their stakes in LEN. Barrow Hanley Mewhinney & Strauss LLC grew 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 valued at $596,504,000 after acquiring an additional 603,004 shares in the last quarter. Viking Global Investors LP boosted its holdings in Lennar by 86.7% in the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after purchasing an additional 1,172,068 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Lennar by 12.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,127,225 shares of the construction company’s stock valued at $218,681,000 after purchasing an additional 228,247 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. grew its stake in Lennar by 90.9% during 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 in the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in Lennar during the 4th quarter worth approximately $95,941,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LEN. 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. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lennar in a report on Thursday, June 11th. Barclays reduced their price objective on shares of Lennar from $80.00 to $79.00 and set an “underweight” rating on the stock in a research note on Monday, June 15th. Seaport Research Partners reissued a “sell” rating and issued a $74.00 target price (down from $140.00) on shares of Lennar in a research report on Tuesday, April 7th. Finally, Truist Financial cut their target price on shares of Lennar from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Tuesday, March 31st. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and ten have issued a Sell rating to the stock. According to MarketBeat.com, Lennar has a consensus rating of “Reduce” and an average price target of $95.00.

Lennar Stock Up 0.0%

Shares of NYSE:LEN opened at $93.54 on Monday. The company’s fifty day moving average is $89.78 and its two-hundred day moving average is $100.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91. Lennar Corporation has a 1-year low of $81.18 and a 1-year high of $144.24. The stock has a market capitalization of $23.10 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 3.07 and a beta of 1.39.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 EPS 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 analyst estimates of $8.08 billion. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.81 EPS. Equities analysts anticipate that Lennar Corporation will post 5.58 EPS for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, July 10th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. Lennar’s dividend payout ratio is 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.