Camelot Portfolios LLC Makes New Investment in Lennar Corporation $LEN

Camelot Portfolios LLC purchased a new position in shares of Lennar Corporation (NYSE:LEN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,144 shares of the construction company’s stock, valued at approximately $1,043,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Lennar by 14.6% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock worth $596,504,000 after acquiring an additional 603,004 shares in the last quarter. Viking Global Investors LP grew its holdings in Lennar by 86.7% during the 2nd quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock worth $279,135,000 after acquiring an additional 1,172,068 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Lennar by 7.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,154,892 shares of the construction company’s stock valued at $145,563,000 after buying an additional 75,574 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Lennar by 41.0% in the 3rd quarter. California Public Employees Retirement System now owns 578,927 shares of the construction company’s stock valued at $72,968,000 after buying an additional 168,196 shares during the last quarter. Finally, Caisse de depot et placement du Quebec raised its stake in Lennar by 3.7% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 555,305 shares of the construction company’s stock worth $69,991,000 after acquiring an additional 19,566 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Ratings Changes

LEN has been the subject of a number of research reports. Weiss Ratings cut shares of Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 16th. Seaport Research Partners reissued a “sell” rating and issued a $74.00 price target (down from $140.00) on shares of Lennar in a research report on Tuesday, April 7th. Royal Bank Of Canada set a $88.00 price target on shares of Lennar in a research report on Friday, January 9th. UBS Group reduced their price target on shares of Lennar from $122.00 to $107.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Finally, Truist Financial reduced their price target 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. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and eight have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lennar currently has an average rating of “Reduce” and a consensus price target of $99.87.

Lennar Stock Down 0.1%

LEN stock opened at $93.99 on Monday. The company has a fifty day moving average price of $98.04 and a 200 day moving average price of $111.01. Lennar Corporation has a 12 month low of $83.03 and a 12 month high of $144.24. The company has a market cap of $23.21 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 2.07 and a beta of 1.47. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.07). Lennar had a net margin of 5.39% and a return on equity of 7.80%. The business had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter last year, the company earned $2.14 EPS. The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. Sell-side analysts expect that Lennar Corporation will post 5.91 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd will be given a $0.50 dividend. The ex-dividend date is Wednesday, April 22nd. This represents a $2.00 annualized dividend and a yield of 2.1%. Lennar’s dividend payout ratio is 28.74%.

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.