Tevis Investment Management Purchases 9,977 Shares of Lennar Corporation $LEN

Tevis Investment Management increased its position in Lennar Corporation (NYSE:LEN) by 108.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,146 shares of the construction company’s stock after buying an additional 9,977 shares during the quarter. Tevis Investment Management’s holdings in Lennar were worth $1,663,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Viking Global Investors LP grew its holdings in Lennar by 86.7% in the 2nd 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 during the last quarter. Van Lanschot Kempen Investment Management N.V. raised its stake 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 acquiring an additional 934,856 shares during the last quarter. Freestone Grove Partners LP bought a new position in shares of Lennar during the fourth quarter valued at about $95,941,000. Bank of Nova Scotia boosted its holdings in shares of Lennar by 1,303.1% during the fourth quarter. Bank of Nova Scotia now owns 490,105 shares of the construction company’s stock worth $50,383,000 after purchasing an additional 455,174 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of Lennar by 12.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,127,225 shares of the construction company’s stock worth $218,681,000 after purchasing an additional 228,247 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Lennar Stock Down 0.0%

NYSE:LEN opened at $84.24 on Monday. 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 firm’s 50-day moving average price is $88.66 and its 200-day moving average price is $98.53. The company has a market capitalization of $20.29 billion, a PE ratio of 13.18, a P/E/G ratio of 2.80 and a beta of 1.38. Lennar Corporation has a 1-year low of $81.18 and a 1-year high of $144.24.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $8.08 billion. During the same period last year, the company posted $1.81 EPS. Lennar’s revenue was down 5.2% on a year-over-year basis. On average, equities analysts predict that Lennar Corporation will post 5.52 EPS for the current fiscal year.

Lennar Dividend Announcement

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

Analyst Ratings Changes

LEN has been the subject of a number of recent analyst reports. Bank of America lowered their price target on Lennar from $84.00 to $77.00 and set an “underperform” rating for the company in a research report on Friday, June 12th. Argus set a $108.00 price objective on Lennar in a research report on Thursday. UBS Group decreased their target price on Lennar from $107.00 to $94.00 and set a “neutral” rating for the company in a report on Tuesday, June 16th. Zacks Research lowered Lennar from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 16th. Finally, BTIG Research set a $67.00 price target on shares of Lennar in a report on Monday, June 15th. One equities 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. Based on data from MarketBeat, Lennar presently has a consensus rating of “Reduce” and a consensus price target of $93.87.

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.