Mediolanum International Funds Ltd Takes $9.69 Million Position in Lennar Corporation $LEN

Mediolanum International Funds Ltd acquired a new position in shares of Lennar Corporation (NYSE:LEN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 75,858 shares of the construction company’s stock, valued at approximately $9,686,000.

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

Analyst Upgrades and Downgrades

LEN has been the topic of several analyst reports. UBS Group cut Lennar from a “buy” rating to a “neutral” rating and reduced their target price for the company from $137.00 to $122.00 in a report on Tuesday, January 6th. Royal Bank Of Canada set a $88.00 price objective on shares of Lennar in a report on Friday, January 9th. Argus upgraded Lennar to a “strong-buy” rating in a research note on Friday, January 16th. Zacks Research downgraded Lennar from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. Finally, BTIG Research set a $90.00 price objective on Lennar in a research note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have given a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat.com, Lennar has an average rating of “Reduce” and an average target price of $106.38.

Lennar Price Performance

LEN stock opened at $109.26 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.36 and a current ratio of 4.89. The business has a 50-day simple moving average of $115.59 and a two-hundred day simple moving average of $121.80. The company has a market capitalization of $27.86 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 1.60 and a beta of 1.44. Lennar Corporation has a 52-week low of $98.42 and a 52-week high of $144.24.

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

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Wednesday, February 4th will be paid 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 presently 25.03%.

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.