Tevis Investment Management Buys 9,977 Shares of Lennar Corporation $LEN

Tevis Investment Management increased its stake in Lennar Corporation (NYSE:LEN) by 108.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,146 shares of the construction company’s stock after purchasing an additional 9,977 shares during the quarter. Tevis Investment Management’s holdings in Lennar were worth $1,663,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC grew its holdings in Lennar by 7.1% during the 2nd quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock valued at $141,000 after buying an additional 85 shares in the last quarter. Rossby Financial LCC boosted its position in shares of Lennar by 9.1% during the 4th quarter. Rossby Financial LCC now owns 1,059 shares of the construction company’s stock valued at $109,000 after acquiring an additional 88 shares during the last quarter. New Mexico Educational Retirement Board grew its holdings in shares of Lennar by 1.0% during the fourth 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 in the last quarter. KDT Advisors LLC increased its position in shares of Lennar by 2.7% in the third quarter. KDT Advisors LLC now owns 4,654 shares of the construction company’s stock worth $587,000 after purchasing an additional 123 shares during the last quarter. Finally, Orion Porfolio Solutions LLC raised its stake in Lennar by 0.7% in the fourth quarter. Orion Porfolio Solutions LLC now owns 17,725 shares of the construction company’s stock valued at $1,822,000 after purchasing an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on LEN. 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 report on Monday, June 15th. Truist Financial cut their target price on shares of Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Tuesday, March 31st. UBS Group reduced their target price on Lennar from $107.00 to $94.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 16th. BTIG Research set a $67.00 price target on Lennar in a research report on Monday, June 15th. Finally, Evercore lifted their price target on Lennar from $82.00 to $87.00 and gave the stock an “underperform” rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have given a Sell rating to the company. Based on data from MarketBeat, Lennar currently has a consensus rating of “Reduce” and a consensus price target of $93.87.

Lennar Trading Down 0.0%

Shares of LEN opened at $84.24 on Monday. Lennar Corporation has a fifty-two week low of $81.18 and a fifty-two week high of $144.24. The firm has a market cap of $20.29 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 2.80 and a beta of 1.38. The firm has a 50 day moving average price of $88.66 and a 200-day moving average price of $98.53. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91.

Lennar (NYSE:LEN) last released its earnings results on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.24 by $0.07. The company had revenue of $7.94 billion for the quarter, compared to analyst estimates of $8.08 billion. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.81 EPS. As a group, equities research analysts forecast that Lennar Corporation will post 5.52 earnings per share for the current year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, July 10th will be issued a $0.50 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. 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.