ABC Arbitrage SA Increases Position in Lennar Corporation $LEN

ABC Arbitrage SA grew its holdings in shares of Lennar Corporation (NYSE:LEN) by 117.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 99,992 shares of the construction company’s stock after buying an additional 53,992 shares during the period. Lennar accounts for 1.2% of ABC Arbitrage SA’s portfolio, making the stock its 19th largest position. ABC Arbitrage SA’s holdings in Lennar were worth $8,683,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in 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 buying an additional 377 shares in the last quarter. Intech Investment Management LLC raised its position in Lennar by 29.8% during the 1st 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 stake in shares of Lennar by 15.0% during the second quarter. Jump Financial LLC now owns 25,622 shares of the construction company’s stock valued at $2,834,000 after buying an additional 3,345 shares during the period. Cary Street Partners Financial LLC bought a new stake in shares of Lennar in the second quarter valued at about $47,000. Finally, Daiwa Securities Group Inc. lifted its stake in Lennar by 4.6% in the second quarter. Daiwa Securities Group Inc. now owns 34,958 shares of the construction company’s stock worth $3,867,000 after acquiring an additional 1,544 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

LEN has been the topic of several recent research reports. The Goldman Sachs Group reiterated a “neutral” rating on shares of Lennar in a report on Friday, June 5th. Bank of America dropped their price objective on shares of Lennar from $84.00 to $77.00 and set an “underperform” rating on the stock in a research note on Friday, June 12th. UBS Group dropped their target price on Lennar from $107.00 to $94.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 16th. Barclays cut their price target on Lennar from $80.00 to $79.00 and set an “underweight” rating on the stock in a report on Monday, June 15th. Finally, Zacks Research lowered 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 issued a Hold rating and ten have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $93.87.

Lennar Stock Down 1.6%

Shares of LEN stock opened at $82.88 on Tuesday. The stock’s fifty day moving average price is $88.51 and its 200 day moving average price is $98.38. Lennar Corporation has a 1-year low of $81.18 and a 1-year high of $144.24. The company has a market cap of $19.97 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 2.80 and a beta of 1.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.91 and a quick ratio of 0.91.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. The company 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 firm’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the business posted $1.81 earnings per share. On average, research analysts expect that Lennar Corporation will post 5.52 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. Lennar’s dividend payout ratio (DPR) is currently 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.