Redwood Investment Management LLC Invests $1.03 Million in Lennar Corporation $LEN

Redwood Investment Management LLC purchased a new stake in Lennar Corporation (NYSE:LEN) in the first quarter, Holdings Channel.com reports. The fund purchased 11,841 shares of the construction company’s stock, valued at approximately $1,028,000.

Other institutional investors have also recently added to or reduced their stakes in the company. DV Equities LLC acquired a new position in Lennar during the fourth quarter worth about $31,000. High Point Wealth Management LLC acquired a new stake in shares of Lennar during the 4th quarter valued at approximately $31,000. Phillip James Consulting Co. purchased a new stake in shares of Lennar during the 1st quarter worth approximately $30,000. Quarry LP acquired a new stake in shares of Lennar in the 4th quarter worth approximately $41,000. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of Lennar in the 2nd quarter worth approximately $47,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

LEN has been the subject of several research reports. Keefe, Bruyette & Woods reduced 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 upped their target price on Lennar from $82.00 to $87.00 and gave the company an “underperform” rating in a report on Monday, June 15th. Seaport Research Partners reaffirmed a “sell” rating and set a $74.00 price target (down from $140.00) on shares of Lennar in a research note on Tuesday, April 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Lennar in a research report on Thursday, June 11th. Finally, The Goldman Sachs Group reissued a “neutral” rating on shares of Lennar in a research note on Friday, June 5th. 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. According to data from MarketBeat.com, Lennar currently has an average rating of “Reduce” and an average target price of $92.80.

Lennar Stock Performance

NYSE LEN opened at $85.22 on Tuesday. 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 Corporation has a fifty-two week low of $79.82 and a fifty-two week high of $144.24. The business has a fifty day moving average of $87.76 and a 200-day moving average of $95.85. The stock has a market cap of $20.53 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 2.73 and a beta of 1.39.

Lennar (NYSE:LEN) last posted its quarterly earnings data 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 business had revenue of $7.94 billion for 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 revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.81 earnings per share. As a group, analysts predict that Lennar Corporation will post 5.52 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 10th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, July 10th. Lennar’s payout ratio is presently 31.30%.

Lennar 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.