Financiere des Professionnels Fonds d investissement inc. Takes Position in Lennar Corporation $LEN

Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of Lennar Corporation (NYSE:LEN) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 19,700 shares of the construction company’s stock, valued at approximately $1,711,000.

Several other large investors have also recently modified their holdings of the business. Viking Global Investors LP raised its position in shares of 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 period. Van Lanschot Kempen Investment Management N.V. boosted its holdings in 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 worth $201,835,000 after buying an additional 934,856 shares during the period. Freestone Grove Partners LP purchased a new position in Lennar in the 4th quarter valued at approximately $95,941,000. Bank of Nova Scotia raised its holdings in Lennar by 1,303.1% during the 4th quarter. Bank of Nova Scotia now owns 490,105 shares of the construction company’s stock valued at $50,383,000 after acquiring an additional 455,174 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of Lennar by 12.0% during the fourth quarter. Janus Henderson Group PLC now owns 2,127,225 shares of the construction company’s stock worth $218,681,000 after acquiring an additional 228,247 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Trading Down 3.0%

Lennar stock opened at $83.83 on Friday. 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 fifty-two week low of $81.18 and a fifty-two week high of $144.24. The stock has a market cap of $20.20 billion, a P/E ratio of 13.12, a PEG ratio of 2.87 and a beta of 1.38. The firm’s fifty day moving average price is $88.24 and its 200-day moving average price is $97.86.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) 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 company had revenue of $7.94 billion during the quarter, compared to analyst estimates of $8.08 billion. During the same quarter last year, the company earned $1.81 earnings per share. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. Equities research analysts forecast that Lennar Corporation will post 5.52 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, July 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, July 10th. Lennar’s dividend payout ratio (DPR) is 31.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Truist Financial cut their price target on Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a report on Tuesday, March 31st. Bank of America dropped their price objective on Lennar from $84.00 to $77.00 and set an “underperform” rating on the stock in a report on Friday, June 12th. Royal Bank Of Canada cut their target price on Lennar from $88.00 to $85.00 and set an “underperform” rating for the company in a research note on Monday, June 15th. Keefe, Bruyette & Woods reduced their target price on Lennar from $86.00 to $85.00 and set an “underperform” rating for the company in a report on Wednesday, June 17th. Finally, Barclays decreased 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. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have issued a Sell rating to the company. According to data from MarketBeat, Lennar has a consensus rating of “Reduce” and a consensus target price of $92.80.

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.