Lennar Corporation $LEN Shares Bought by Caxton Associates LLP

Caxton Associates LLP raised its stake in Lennar Corporation (NYSE:LEN) by 875.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,589 shares of the construction company’s stock after buying an additional 40,917 shares during the quarter. Caxton Associates LLP’s holdings in Lennar were worth $3,959,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Viking Global Investors LP raised its stake in Lennar by 86.7% during the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock worth $279,135,000 after purchasing an additional 1,172,068 shares during the period. Van Lanschot Kempen Investment Management N.V. grew its stake in shares of Lennar by 90.9% in the 4th 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 buying an additional 934,856 shares during the period. Freestone Grove Partners LP acquired a new stake in shares of Lennar during the 4th quarter worth approximately $95,941,000. Bank of Nova Scotia raised its position in shares of Lennar by 1,303.1% during the 4th quarter. Bank of Nova Scotia now owns 490,105 shares of the construction company’s stock valued at $50,383,000 after buying an additional 455,174 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in Lennar by 12.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,127,225 shares of the construction company’s stock valued at $218,681,000 after acquiring an additional 228,247 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

LEN has been the topic of a number of research analyst reports. Barclays reduced their target price on Lennar from $80.00 to $79.00 and set an “underweight” rating on the stock in a research report on Monday, June 15th. UBS Group decreased their target price on shares of Lennar from $107.00 to $94.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 16th. Bank of America decreased their price objective on shares of Lennar from $84.00 to $77.00 and set an “underperform” rating on the stock in a report on Friday, June 12th. The Goldman Sachs Group restated a “neutral” rating on shares of Lennar in a research note on Friday, June 5th. Finally, Royal Bank Of Canada cut their price objective on Lennar from $88.00 to $85.00 and set an “underperform” rating on the stock in a report on Monday, June 15th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have issued a Sell rating to the stock. Based on data from MarketBeat.com, Lennar currently has an average rating of “Reduce” and an average target price of $92.80.

Lennar Stock Up 0.1%

Shares of NYSE:LEN opened at $82.25 on Friday. Lennar Corporation has a fifty-two week low of $79.82 and a fifty-two week high of $144.24. The firm’s 50 day moving average price is $87.96 and its 200 day moving average price is $97.22. The company has a quick ratio of 0.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.19. The stock has a market cap of $19.81 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 2.73 and a beta of 1.38.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, topping the consensus estimate 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 quarter in the previous year, the business posted $1.81 EPS. The firm’s revenue was down 5.2% on a year-over-year basis. As a group, equities research analysts predict that Lennar Corporation will post 5.52 earnings per share for the current fiscal year.

Lennar Dividend Announcement

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

About Lennar

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.