16,368 Shares in Lennar Corporation $LEN Purchased by FirstWave Capital Management LLC

FirstWave Capital Management LLC bought a new position in shares of Lennar Corporation (NYSE:LEN) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,368 shares of the construction company’s stock, valued at approximately $1,481,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in shares of Lennar by 19.7% during the first quarter. Janus Henderson Group PLC now owns 2,546,970 shares of the construction company’s stock valued at $221,176,000 after purchasing an additional 419,745 shares during the last quarter. Viking Global Investors LP raised its holdings in Lennar by 86.7% during 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 acquiring an additional 1,172,068 shares during the period. Van Lanschot Kempen Investment Management N.V. raised its position in shares of Lennar by 90.9% during the fourth 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 buying an additional 934,856 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in Lennar during the fourth quarter valued at $95,941,000. Finally, Swiss National Bank increased its holdings in shares of Lennar by 4.8% in the 1st quarter. Swiss National Bank now owns 601,468 shares of the construction company’s stock valued at $52,231,000 after acquiring an additional 27,500 shares during the period. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Down 0.9%

LEN stock opened at $83.70 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. The stock has a market capitalization of $20.16 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 2.80 and a beta of 1.39. Lennar Corporation has a one year low of $79.82 and a one year high of $144.24. The company has a fifty day moving average of $85.63 and a 200-day moving average of $91.04.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. The business had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $8.08 billion. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.81 EPS. As a group, analysts expect that Lennar Corporation will post 5.52 EPS for the current year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were given a $0.50 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. Lennar’s payout ratio is currently 31.30%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LEN shares. The Goldman Sachs Group reissued a “neutral” rating on shares of Lennar in a research report on Friday, June 5th. Keefe, Bruyette & Woods dropped their target price on Lennar from $86.00 to $85.00 and set an “underperform” rating on the stock in a research report on Wednesday, June 17th. Evercore boosted their price objective on Lennar from $82.00 to $87.00 and gave the stock an “underperform” rating in a research note on Monday, June 15th. Bank of America decreased their price target 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. Finally, Citigroup dropped their price objective on shares of Lennar from $104.00 to $88.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. One 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. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $92.13.

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.