Lennar (NYSE:LEN) Sets New 52-Week Low – Should You Sell?

Lennar Corporation (NYSE:LEN) shares reached a new 52-week low on Monday . The company traded as low as $84.78 and last traded at $86.1760, with a volume of 2863108 shares. The stock had previously closed at $90.25.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LEN shares. Citizens Jmp restated a “market perform” rating on shares of Lennar in a research report on Wednesday, January 7th. Royal Bank Of Canada set a $88.00 price objective on Lennar in a research note on Friday, January 9th. JPMorgan Chase & Co. dropped their target price on Lennar from $115.00 to $80.00 and set an “underweight” rating for the company in a report on Thursday, December 18th. Truist Financial cut their target price on Lennar from $110.00 to $95.00 and set a “hold” rating for the company in a research note on Monday, March 16th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Lennar from $115.00 to $105.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Hold rating and eight have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $102.07.

Lennar Trading Down 6.1%

The stock has a market cap of $20.94 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 1.92 and a beta of 1.43. The company’s 50-day moving average price is $108.12 and its 200 day moving average price is $116.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 4.77.

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

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Wednesday, February 4th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, February 4th. Lennar’s dividend payout ratio (DPR) is presently 28.74%.

Institutional Investors Weigh In On Lennar

A number of institutional investors have recently made changes to their positions in LEN. Concurrent Investment Advisors LLC raised its stake in Lennar by 73.9% in the third quarter. Concurrent Investment Advisors LLC now owns 10,702 shares of the construction company’s stock valued at $1,349,000 after buying an additional 4,548 shares in the last quarter. Cibc World Market Inc. boosted its position in shares of Lennar by 993.0% during the 3rd quarter. Cibc World Market Inc. now owns 129,487 shares of the construction company’s stock worth $16,321,000 after acquiring an additional 117,640 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Lennar by 5.9% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 466,027 shares of the construction company’s stock worth $58,738,000 after acquiring an additional 26,117 shares in the last quarter. Boothbay Fund Management LLC increased its holdings in shares of Lennar by 201.1% in the 3rd quarter. Boothbay Fund Management LLC now owns 24,004 shares of the construction company’s stock valued at $3,025,000 after acquiring an additional 16,031 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in shares of Lennar during the 3rd quarter worth about $1,509,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

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.