FirstWave Capital Management LLC Makes New $1.48 Million Investment in Lennar Corporation $LEN

FirstWave Capital Management LLC purchased a new position in shares of Lennar Corporation (NYSE:LEN) in the 2nd quarter, Holdings Channel reports. The firm purchased 16,368 shares of the construction company’s stock, valued at approximately $1,481,000.

A number of other institutional investors have also recently added to or reduced their stakes in LEN. Phillip James Consulting Co. acquired a new position in Lennar in the 1st quarter worth $30,000. DV Equities LLC acquired a new position in Lennar during the fourth quarter worth about $31,000. Global Assets Advisory LLC acquired a new position in Lennar in the first quarter worth approximately $39,000. Quarry LP purchased a new stake in shares of Lennar during the fourth quarter valued at $41,000. Finally, IFC & Insurance Marketing Inc. purchased a new stake in shares of Lennar in the 4th quarter valued at approximately $45,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LEN has been the topic of several research reports. Zacks Research lowered Lennar from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 16th. Bank of America reduced their price objective on shares of Lennar from $84.00 to $77.00 and set an “underperform” rating for the company in a research note on Friday, June 12th. Evercore raised their target price on Lennar from $82.00 to $87.00 and gave the company an “underperform” rating in a report on Monday, June 15th. UBS Group decreased their price target on Lennar from $107.00 to $94.00 and set a “neutral” rating for the company in a research note on Tuesday, June 16th. Finally, Wells Fargo & Company reduced their target price on Lennar from $90.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, June 15th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and ten have issued a Sell rating to the stock. According to MarketBeat, Lennar presently has an average rating of “Reduce” and a consensus target price of $92.13.

Lennar Stock Down 0.9%

Shares of LEN opened at $83.70 on Friday. Lennar Corporation has a 52 week low of $79.82 and a 52 week high of $144.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91. The firm has a market capitalization of $20.16 billion, a P/E ratio of 13.10, a P/E/G ratio of 2.80 and a beta of 1.39. The company has a 50-day simple moving average of $85.63 and a 200-day simple moving average of $91.04.

Lennar (NYSE:LEN) last announced 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. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The firm had revenue of $7.94 billion for the quarter, compared to analyst estimates of $8.08 billion. During the same quarter in the previous year, the firm posted $1.81 EPS. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, equities research analysts expect that Lennar Corporation will post 5.52 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were paid a $0.50 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. Lennar’s payout ratio is 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.