Empowered Funds LLC Has $26.91 Million Stake in Lennar Corporation $LEN

Empowered Funds LLC raised its stake in Lennar Corporation (NYSE:LEN) by 322.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 309,880 shares of the construction company’s stock after buying an additional 236,524 shares during the quarter. Empowered Funds LLC owned 0.13% of Lennar worth $26,910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LEN. Lazard Asset Management LLC boosted its position in shares of Lennar by 7.1% during the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock worth $141,000 after buying an additional 85 shares during the period. Rossby Financial LCC increased its holdings in Lennar by 9.1% during the fourth quarter. Rossby Financial LCC now owns 1,059 shares of the construction company’s stock worth $109,000 after buying an additional 88 shares during the last quarter. New Mexico Educational Retirement Board raised its holdings in shares of Lennar by 1.0% in the 4th quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company’s stock valued at $1,086,000 after purchasing an additional 100 shares during the period. KDT Advisors LLC boosted its stake in shares of Lennar by 2.7% during the 3rd quarter. KDT Advisors LLC now owns 4,654 shares of the construction company’s stock worth $587,000 after acquiring an additional 123 shares during the period. Finally, KCM Investment Advisors LLC lifted its holdings in Lennar by 1.3% during the 1st quarter. KCM Investment Advisors LLC now owns 9,879 shares of the construction company’s stock valued at $858,000 after purchasing an additional 125 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

LEN has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Lennar from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 16th. Royal Bank Of Canada decreased their price target on shares of Lennar from $88.00 to $85.00 and set an “underperform” rating on the stock in a research note on Monday, June 15th. Barclays cut their price objective on shares of Lennar from $80.00 to $79.00 and set an “underweight” rating for the company in a research report on Monday, June 15th. Zacks Research cut Lennar from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 16th. Finally, Wells Fargo & Company lowered their target price on Lennar from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday, June 15th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $92.80.

Lennar Stock Performance

NYSE LEN opened at $84.99 on Tuesday. The firm has a 50-day moving average price of $88.03 and a two-hundred day moving average price of $96.93. Lennar Corporation has a 12-month low of $79.82 and a 12-month high of $144.24. The company has a market capitalization of $20.47 billion, a P/E ratio of 13.30, a P/E/G 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 results on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.07. The business had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $8.08 billion. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.81 earnings per share. Analysts anticipate that Lennar Corporation will post 5.52 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently announced 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 was Friday, July 10th. Lennar’s payout ratio is currently 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.