Fox Run Management L.L.C. Invests $1.82 Million in Lennar Corporation $LEN

Fox Run Management L.L.C. purchased a new position in shares of Lennar Corporation (NYSE:LEN) during the fourth quarter, Holdings Channel.com reports. The fund purchased 17,720 shares of the construction company’s stock, valued at approximately $1,822,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Lazard Asset Management LLC raised its position 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 purchasing an additional 85 shares during the period. Zions Bancorporation National Association UT raised its position in shares of Lennar by 8.3% during the 3rd quarter. Zions Bancorporation National Association UT now owns 1,127 shares of the construction company’s stock worth $142,000 after purchasing an additional 86 shares during the period. RFG Advisory LLC raised its position in shares of Lennar by 2.1% during the 3rd quarter. RFG Advisory LLC now owns 4,255 shares of the construction company’s stock worth $536,000 after purchasing an additional 87 shares during the period. New Mexico Educational Retirement Board raised 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 worth $1,086,000 after purchasing an additional 100 shares during the period. Finally, Provenance Wealth Advisors LLC raised its position in shares of Lennar by 23.8% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 619 shares of the construction company’s stock worth $78,000 after purchasing an additional 119 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Up 0.5%

LEN opened at $90.95 on Tuesday. Lennar Corporation has a 12 month low of $81.18 and a 12 month high of $144.24. 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 stock has a market cap of $22.46 billion, a P/E ratio of 13.07, a P/E/G ratio of 2.00 and a beta of 1.39. The stock’s 50 day moving average price is $88.97 and its 200 day moving average price is $104.00.

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

Lennar Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently commented on LEN. Zacks Research upgraded Lennar from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. Weiss Ratings cut Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 16th. Evercore lowered their target price on Lennar from $89.00 to $82.00 and set an “underperform” rating on the stock in a research report on Monday, April 13th. Wells Fargo & Company lowered their target price on Lennar from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Finally, Keefe, Bruyette & Woods lowered their target price on Lennar from $105.00 to $97.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 1st. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $98.73.

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.