Infrastructure Capital Advisors LLC Acquires New Stake in Lennar Corporation $LEN

Infrastructure Capital Advisors LLC bought a new stake in shares of Lennar Corporation (NYSE:LEN) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 32,881 shares of the construction company’s stock, valued at approximately $2,855,000.

Several other hedge funds have also made changes to their positions in LEN. Viking Global Investors LP boosted its stake in Lennar by 86.7% in the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after acquiring an additional 1,172,068 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. lifted its holdings in shares of Lennar by 90.9% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,963,373 shares of the construction company’s stock valued at $201,835,000 after purchasing an additional 934,856 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Lennar in the 4th quarter valued at about $95,941,000. Bank of Nova Scotia grew its stake in Lennar by 1,303.1% during the 4th quarter. Bank of Nova Scotia now owns 490,105 shares of the construction company’s stock worth $50,383,000 after buying an additional 455,174 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Lennar by 12.0% during the fourth quarter. Janus Henderson Group PLC now owns 2,127,225 shares of the construction company’s stock worth $218,681,000 after buying an additional 228,247 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Up 0.4%

Shares of NYSE:LEN opened at $84.99 on Tuesday. The company has a market cap of $20.47 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 2.81 and a beta of 1.38. The firm’s 50-day simple moving average is $88.03 and its 200-day simple moving average is $96.93. 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 Corporation has a fifty-two week low of $79.82 and a fifty-two week high of $144.24.

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

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, July 10th. Lennar’s dividend payout ratio (DPR) is currently 31.30%.

Analyst Ratings Changes

LEN has been the topic of a number of research reports. Bank of America lowered their target price on shares of Lennar from $84.00 to $77.00 and set an “underperform” rating on the stock in a research report on Friday, June 12th. Citigroup lowered their price objective on shares of Lennar from $104.00 to $88.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods reduced their target price on shares of Lennar from $86.00 to $85.00 and set an “underperform” rating for the company in a report on Wednesday, June 17th. Seaport Research Partners reissued a “sell” rating and set a $74.00 price target (down from $140.00) on shares of Lennar in a report on Tuesday, April 7th. Finally, Royal Bank Of Canada reduced their price objective on Lennar from $88.00 to $85.00 and set an “underperform” rating for the company in a research note on Monday, June 15th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have issued a Sell rating to the stock. Based on data from MarketBeat, Lennar currently has an average rating of “Reduce” and an average target price of $92.80.

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.