Lennar Corporation $LEN Shares Purchased by Boothbay Fund Management LLC

Boothbay Fund Management LLC increased its stake in shares of Lennar Corporation (NYSE:LEN) by 201.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,004 shares of the construction company’s stock after buying an additional 16,031 shares during the quarter. Boothbay Fund Management LLC’s holdings in Lennar were worth $3,025,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Lazard Asset Management LLC grew its holdings in shares of Lennar by 7.1% in the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock valued at $141,000 after purchasing an additional 85 shares during the period. Zions Bancorporation National Association UT raised its stake in Lennar by 8.3% during the third 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 boosted its holdings in Lennar by 2.1% in the 3rd quarter. RFG Advisory LLC now owns 4,255 shares of the construction company’s stock valued at $536,000 after purchasing an additional 87 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Lennar by 6.2% in the 3rd quarter. UMB Bank n.a. now owns 1,595 shares of the construction company’s stock valued at $201,000 after buying an additional 93 shares during the period. Finally, ORG Wealth Partners LLC increased its holdings in shares of Lennar by 5.2% during the 3rd quarter. ORG Wealth Partners LLC now owns 2,072 shares of the construction company’s stock worth $261,000 after buying an additional 102 shares during the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on LEN shares. Zacks Research cut Lennar from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. BTIG Research set a $90.00 target price on Lennar in a research report on Thursday, December 18th. Bank of America reaffirmed an “underperform” rating and issued a $95.00 price target (down from $125.00) on shares of Lennar in a research note on Thursday, December 18th. Evercore cut Lennar from an “in-line” rating to an “underperform” rating and lowered their price target for the stock from $114.00 to $92.00 in a report on Thursday, December 18th. Finally, Truist Financial reduced their price objective on shares of Lennar from $110.00 to $95.00 and set a “hold” rating on the stock in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Hold rating and eight have issued a Sell rating to the company’s stock. According to data from MarketBeat, Lennar has a consensus rating of “Reduce” and a consensus target price of $103.43.

Lennar Stock Performance

NYSE LEN opened at $96.01 on Tuesday. 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 company has a market cap of $23.71 billion, a P/E ratio of 13.79, a P/E/G ratio of 1.37 and a beta of 1.43. The stock has a 50-day moving average of $112.33 and a two-hundred day moving average of $119.27. Lennar Corporation has a 1-year low of $92.17 and a 1-year high of $144.24.

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 the consensus estimate of $0.95 by ($0.07). The business had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.14 EPS. As a group, analysts anticipate that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Wednesday, February 4th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, February 4th. Lennar’s dividend payout ratio (DPR) is currently 28.74%.

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.