Hudson Bay Capital Management LP Cuts Stake in Lennar Corporation $LEN

Hudson Bay Capital Management LP decreased its position in Lennar Corporation (NYSE:LEN) by 70.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,161 shares of the construction company’s stock after selling 7,528 shares during the period. Hudson Bay Capital Management LP’s holdings in Lennar were worth $398,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its holdings in Lennar by 7.1% in the 2nd 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 in the last quarter. Zions Bancorporation National Association UT raised its stake in shares of Lennar by 8.3% during the 3rd quarter. Zions Bancorporation National Association UT now owns 1,127 shares of the construction company’s stock worth $142,000 after buying an additional 86 shares in the last quarter. RFG Advisory LLC lifted its holdings in shares of 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 buying an additional 87 shares during the period. UMB Bank n.a. boosted its stake in shares of Lennar by 6.2% in the third 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 in the last quarter. Finally, ORG Wealth Partners LLC grew its holdings in Lennar by 5.2% during the third quarter. ORG Wealth Partners LLC now owns 2,072 shares of the construction company’s stock worth $261,000 after acquiring an additional 102 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LEN shares. The Goldman Sachs Group decreased their price target on Lennar from $125.00 to $118.00 and set a “neutral” rating on the stock in a research note on Thursday, March 5th. Evercore downgraded Lennar from an “in-line” rating to an “underperform” rating and decreased their target price for the stock from $114.00 to $92.00 in a research report on Thursday, December 18th. Citizens Jmp restated a “market perform” rating on shares of Lennar in a research report on Wednesday, January 7th. Weiss Ratings cut shares of Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 16th. Finally, BTIG Research set a $90.00 target price on shares of Lennar in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Hold rating and eight have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $102.07.

Lennar Stock Performance

NYSE LEN opened at $93.37 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18. The stock has a market cap of $23.06 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 1.92 and a beta of 1.43. Lennar Corporation has a fifty-two week low of $89.63 and a fifty-two week high of $144.24. The business has a fifty day moving average of $110.52 and a 200-day moving average of $117.84.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, March 12th. The construction company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). The company had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.14 EPS. As a group, analysts predict that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Wednesday, February 4th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. Lennar’s dividend payout ratio is presently 28.74%.

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.