Entropy Technologies LP Makes New Investment in Lennar Corporation $LEN

Entropy Technologies LP bought a new position in Lennar Corporation (NYSE:LEN) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 78,944 shares of the construction company’s stock, valued at approximately $6,855,000.

Other institutional investors have also recently made changes to their positions in the company. Viking Global Investors LP grew its position 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 worth $279,135,000 after acquiring an additional 1,172,068 shares in the last quarter. Janus Henderson Group PLC raised its position in Lennar by 12.0% during 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 period. Van Lanschot Kempen Investment Management N.V. raised its position in 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 purchasing an additional 934,856 shares during the period. Freestone Grove Partners LP bought a new stake in shares of Lennar in the 4th quarter valued at approximately $95,941,000. Finally, Swiss National Bank boosted 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 worth $52,231,000 after purchasing an additional 27,500 shares during the period. Institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

LEN has been the topic of several recent research reports. UBS Group decreased their price target on Lennar from $107.00 to $94.00 and set a “neutral” rating on the stock in a report on Tuesday, June 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Lennar in a research report on Thursday, June 11th. Truist Financial reduced 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. Keefe, Bruyette & Woods lowered their target price on shares of Lennar from $86.00 to $85.00 and set an “underperform” rating for the company in a report on Wednesday, June 17th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Lennar in a research note on Friday, June 5th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and ten have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $92.80.

Lennar Trading Up 3.2%

LEN stock opened at $84.74 on Friday. Lennar Corporation has a 12 month low of $79.82 and a 12 month high of $144.24. The firm’s 50-day moving average is $88.00 and its 200 day moving average is $97.13. The company has a market capitalization of $20.41 billion, a PE ratio of 13.26, a P/E/G ratio of 2.73 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 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. The company had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $8.08 billion. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.81 EPS. On average, research analysts anticipate that Lennar Corporation will post 5.52 EPS for the current year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.00 annualized dividend and a yield of 2.4%. 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.