25,866 Shares in Lennar Corporation $LEN Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. acquired a new stake in shares of Lennar Corporation (NYSE:LEN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 25,866 shares of the construction company’s stock, valued at approximately $3,260,000.

Several other hedge funds and other institutional investors also recently modified their holdings of LEN. FNY Investment Advisers LLC purchased a new stake in shares of Lennar during the second quarter worth approximately $33,000. Rexford Capital Inc. acquired a new position in Lennar in the 2nd quarter valued at $36,000. Mid American Wealth Advisory Group Inc. purchased a new position in Lennar during the 2nd quarter worth $43,000. Harbor Investment Advisory LLC lifted its stake in shares of Lennar by 39.7% in the 3rd quarter. Harbor Investment Advisory LLC now owns 405 shares of the construction company’s stock worth $51,000 after acquiring an additional 115 shares during the period. Finally, Cary Street Partners Financial LLC purchased a new stake in shares of Lennar in the second quarter valued at about $47,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Stock Down 2.4%

Lennar stock opened at $111.94 on Friday. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $144.24. The firm has a market capitalization of $28.55 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.68 and a beta of 1.42. The stock’s fifty day moving average is $116.24 and its two-hundred day moving average is $121.74. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.36 and a current ratio of 4.89.

Lennar (NYSE:LEN) last released its quarterly earnings data on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.27). The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.17 billion. Lennar had a return on equity of 9.27% and a net margin of 6.08%.Lennar’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.03 earnings per share. Analysts predict that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Wednesday, February 4th will be given a $0.50 dividend. The ex-dividend date is Wednesday, February 4th. This represents a $2.00 annualized dividend and a dividend yield of 1.8%. Lennar’s dividend payout ratio is currently 25.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Lennar from $110.00 to $105.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 6th. The Goldman Sachs Group reissued a “neutral” rating and issued a $125.00 price target on shares of Lennar in a report on Tuesday, January 13th. Citigroup dropped their price objective on Lennar from $133.00 to $113.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Citizens Jmp reissued a “market perform” rating on shares of Lennar in a report on Wednesday, January 7th. Finally, Wall Street Zen cut shares of Lennar from a “hold” rating to a “sell” rating in a research note on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have assigned a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $106.38.

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.