ANTIPODES PARTNERS Ltd Takes $41.79 Million Position in Lennar Corporation (NYSE:LEN)

ANTIPODES PARTNERS Ltd bought a new stake in shares of Lennar Corporation (NYSE:LEN) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 364,040 shares of the construction company’s stock, valued at approximately $41,788,000. Lennar comprises about 1.3% of ANTIPODES PARTNERS Ltd’s investment portfolio, making the stock its 25th biggest holding.

Several other large investors have also recently made changes to their positions in LEN. Brighton Jones LLC grew its holdings in Lennar by 27.9% during the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock valued at $236,000 after buying an additional 377 shares in the last quarter. EFG Asset Management North America Corp. raised its holdings in shares of Lennar by 9.8% during the fourth quarter. EFG Asset Management North America Corp. now owns 15,376 shares of the construction company’s stock valued at $2,097,000 after acquiring an additional 1,372 shares in the last quarter. TrueMark Investments LLC bought a new position in shares of Lennar during the fourth quarter valued at approximately $1,331,000. Ausdal Financial Partners Inc. purchased a new stake in Lennar in the fourth quarter worth $244,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Lennar by 6.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 375,538 shares of the construction company’s stock worth $51,028,000 after acquiring an additional 22,946 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Stock Down 2.1%

NYSE:LEN traded down $2.45 during midday trading on Thursday, reaching $114.81. The company had a trading volume of 463,359 shares, compared to its average volume of 3,186,899. The firm has a market capitalization of $29.74 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 5.03 and a beta of 1.33. The stock’s fifty day simple moving average is $109.76 and its 200-day simple moving average is $116.03. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $193.80. The company has a current ratio of 3.65, a quick ratio of 0.49 and a debt-to-equity ratio of 0.12.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.04). Lennar had a return on equity of 12.73% and a net margin of 9.20%. The business had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.21 billion. During the same period last year, the firm earned $3.45 earnings per share. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. On average, sell-side analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Thursday, July 3rd. Lennar’s dividend payout ratio is presently 16.54%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on LEN shares. Barclays lowered their price target on Lennar from $110.00 to $95.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 18th. Royal Bank Of Canada cut their price target on Lennar from $122.00 to $98.00 and set a “sector perform” rating for the company in a report on Wednesday, June 18th. Wells Fargo & Company dropped their target price on Lennar from $120.00 to $110.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. Wedbush reiterated a “neutral” rating and issued a $130.00 target price on shares of Lennar in a report on Wednesday, June 18th. Finally, Zelman & Associates cut Lennar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $128.85.

About Lennar

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company’s homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties.