Financiere des Professionnels Fonds d investissement inc. Takes $1.71 Million 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 1st quarter, according to the company in its most recent disclosure 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 institutional investors have also recently added to or reduced their stakes in LEN. Lazard Asset Management LLC boosted its holdings in shares of Lennar by 7.1% during the 2nd quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock worth $141,000 after buying an additional 85 shares in the last quarter. Rossby Financial LCC increased its stake in shares of Lennar by 9.1% in the 4th quarter. Rossby Financial LCC now owns 1,059 shares of the construction company’s stock valued at $109,000 after acquiring an additional 88 shares in the last quarter. New Mexico Educational Retirement Board lifted its position in shares of Lennar by 1.0% during the 4th quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company’s stock valued at $1,086,000 after acquiring an additional 100 shares during the period. KDT Advisors LLC boosted its stake in Lennar by 2.7% during the third quarter. KDT Advisors LLC now owns 4,654 shares of the construction company’s stock worth $587,000 after acquiring an additional 123 shares in the last quarter. Finally, Orion Porfolio Solutions LLC grew its holdings in Lennar by 0.7% in the fourth quarter. Orion Porfolio Solutions LLC now owns 17,725 shares of the construction company’s stock worth $1,822,000 after purchasing an additional 130 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Price Performance

LEN opened at $83.83 on Friday. Lennar Corporation has a 1 year low of $81.18 and a 1 year high of $144.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.91 and a quick ratio of 0.91. The company has a market capitalization of $20.20 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 2.87 and a beta of 1.38. The firm’s fifty day moving average price is $88.24 and its two-hundred day moving average price is $97.86.

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

Lennar Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LEN shares. BTIG Research set a $67.00 price target on shares of Lennar in a research note on Monday, June 15th. Truist Financial reduced their target price on Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Tuesday, March 31st. Evercore boosted their target price on Lennar from $82.00 to $87.00 and gave the company an “underperform” rating in a research report on Monday, June 15th. JPMorgan Chase & Co. cut their price target on Lennar from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Tuesday, June 16th. Finally, Keefe, Bruyette & Woods decreased 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. 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 stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target 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.