Eurizon Capital SGR S.p.A. Purchases New Holdings in Lennar Corporation $LEN

Eurizon Capital SGR S.p.A. purchased a new stake in Lennar Corporation (NYSE:LEN) in the 4th quarter, HoldingsChannel reports. The fund purchased 25,754 shares of the construction company’s stock, valued at approximately $2,650,000.

Several other hedge funds have also made changes to their positions in LEN. Brighton Jones LLC lifted its position in Lennar by 27.9% in the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after buying an additional 377 shares in the last quarter. Intech Investment Management LLC lifted its position in Lennar by 29.8% in the 1st quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company’s stock worth $1,589,000 after buying an additional 3,177 shares in the last quarter. Jump Financial LLC lifted its position in Lennar by 15.0% in the 2nd quarter. Jump Financial LLC now owns 25,622 shares of the construction company’s stock worth $2,834,000 after buying an additional 3,345 shares in the last quarter. Cary Street Partners Financial LLC purchased a new stake in Lennar in the 2nd quarter worth approximately $47,000. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Lennar by 4.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 34,958 shares of the construction company’s stock valued at $3,867,000 after purchasing an additional 1,544 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

Shares of LEN opened at $90.90 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97. The company has a market capitalization of $22.45 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 1.99 and a beta of 1.39. The company’s fifty day moving average price is $89.07 and its 200 day moving average price is $105.00. Lennar Corporation has a one year low of $81.18 and a one year high of $144.24.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.07). The company had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.The business’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.14 earnings per share. As a group, analysts expect that Lennar Corporation will post 5.87 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.2%. The ex-dividend date was Wednesday, April 22nd. Lennar’s dividend payout ratio (DPR) is currently 28.74%.

Wall Street Analysts Forecast Growth

LEN has been the topic of a number of recent research reports. UBS Group cut their price target on shares of Lennar from $122.00 to $107.00 and set a “neutral” rating on the stock in a report on Monday, March 16th. Keefe, Bruyette & Woods cut their price target on shares of Lennar from $105.00 to $97.00 and set a “market perform” rating on the stock in a report on Wednesday, April 1st. Seaport Research Partners restated a “sell” rating and set a $74.00 price target (down from $140.00) on shares of Lennar in a report on Tuesday, April 7th. The Goldman Sachs Group dropped their target price on shares of Lennar from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, April 10th. Finally, Zacks Research upgraded shares of Lennar from a “strong sell” rating to a “hold” rating in a report on Thursday, March 19th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $99.87.

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.