TrueMark Investments LLC Takes $2.75 Million Position in Lennar Corporation $LEN

TrueMark Investments LLC acquired a new stake in shares of Lennar Corporation (NYSE:LEN) during the 3rd quarter, Holdings Channel reports. The fund acquired 21,798 shares of the construction company’s stock, valued at approximately $2,747,000.

Several other large investors have also bought and sold shares of the company. FNY Investment Advisers LLC purchased a new stake in shares of Lennar during the second quarter valued at approximately $33,000. Rexford Capital Inc. bought a new position in Lennar in the 2nd quarter valued at approximately $36,000. Mid American Wealth Advisory Group Inc. purchased a new stake in Lennar during the 2nd quarter valued at $43,000. Cary Street Partners Financial LLC bought a new stake in shares of Lennar in the 2nd quarter worth $47,000. Finally, Harbor Investment Advisory LLC raised its stake in shares of Lennar by 39.7% in the third quarter. Harbor Investment Advisory LLC now owns 405 shares of the construction company’s stock worth $51,000 after purchasing an additional 115 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Stock Performance

Shares of NYSE LEN opened at $111.94 on Friday. The company has a current ratio of 4.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $144.24. The firm has a market capitalization of $28.55 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.68 and a beta of 1.42. The firm has a 50 day moving average of $116.24 and a 200 day moving average of $121.74.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.27). Lennar had a return on equity of 9.27% and a net margin of 6.08%.The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.17 billion. During the same quarter last year, the company earned $4.03 earnings per share. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, research analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Wednesday, February 4th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, February 4th. Lennar’s dividend payout ratio is currently 25.03%.

Wall Street Analyst Weigh In

Several research firms recently commented on LEN. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lennar in a research report on Thursday. Evercore ISI downgraded shares of Lennar from an “in-line” rating to an “underperform” rating and dropped their price target for the company from $114.00 to $92.00 in a report on Thursday, December 18th. Royal Bank Of Canada set a $88.00 price objective on shares of Lennar in a report on Friday, January 9th. Bank of America restated an “underperform” rating and issued a $95.00 target price (down previously from $125.00) on shares of Lennar in a report on Thursday, December 18th. Finally, Zacks Research lowered shares of Lennar from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have issued a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat.com, Lennar currently has an average rating of “Reduce” and a consensus target price of $106.38.

Lennar 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.