Empowered Funds LLC Buys 236,524 Shares of Lennar Corporation $LEN

Empowered Funds LLC increased its position in shares of Lennar Corporation (NYSE:LEN) by 322.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 309,880 shares of the construction company’s stock after buying an additional 236,524 shares during the period. Empowered Funds LLC’s holdings in Lennar were worth $26,910,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in LEN. DV Equities LLC acquired a new position in Lennar in the fourth quarter valued at approximately $31,000. High Point Wealth Management LLC acquired a new stake in shares of Lennar during the 4th quarter worth approximately $31,000. Phillip James Consulting Co. bought a new stake in shares of Lennar in the 1st quarter valued at $30,000. Quarry LP acquired a new position in shares of Lennar during the 4th quarter valued at $41,000. Finally, Cary Street Partners Financial LLC bought a new position in Lennar during the second quarter worth $47,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Lennar from $90.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, June 15th. UBS Group decreased their target price on Lennar from $107.00 to $94.00 and set a “neutral” rating for the company in a research report on Tuesday, June 16th. Zacks Research downgraded Lennar from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 16th. BTIG Research set a $67.00 price objective on Lennar in a research note on Monday, June 15th. Finally, Royal Bank Of Canada lowered their target price on Lennar from $88.00 to $85.00 and set an “underperform” rating on the stock in a research report on Monday, June 15th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and ten have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $92.80.

Lennar Stock Up 0.4%

Shares of NYSE:LEN opened at $84.99 on Tuesday. The business’s 50 day moving average is $88.03 and its 200 day moving average is $96.93. Lennar Corporation has a 12-month low of $79.82 and a 12-month high of $144.24. The stock has a market cap of $20.47 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 2.81 and a beta of 1.38. The company has a quick ratio of 0.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.19.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.07. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The business had revenue of $7.94 billion for the quarter, compared to analysts’ expectations of $8.08 billion. During the same period last year, the business earned $1.81 EPS. The business’s revenue was down 5.2% on a year-over-year basis. On average, sell-side analysts forecast that Lennar Corporation will post 5.52 earnings per share for the current fiscal year.

Lennar Dividend Announcement

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