Lennar Corporation $LEN Shares Sold by LSV Asset Management

LSV Asset Management reduced its stake in Lennar Corporation (NYSE:LEN) by 99.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,400 shares of the construction company’s stock after selling 669,986 shares during the period. LSV Asset Management’s holdings in Lennar were worth $429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Lazard Asset Management LLC lifted its position in Lennar by 7.1% in the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock worth $141,000 after purchasing an additional 85 shares during the period. RFG Advisory LLC lifted its holdings in shares of Lennar by 2.1% in the third 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 Lennar by 6.2% during 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. 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. Finally, TD Waterhouse Canada Inc. raised its position in Lennar by 1.1% in the third quarter. TD Waterhouse Canada Inc. now owns 10,837 shares of the construction company’s stock worth $1,389,000 after acquiring an additional 114 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Performance

Shares of Lennar stock opened at $121.40 on Wednesday. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $144.24. The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18. The stock has a market cap of $29.98 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.78 and a beta of 1.44. The business has a fifty day simple moving average of $113.14 and a 200-day simple moving average of $122.09.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Tuesday, December 16th. The construction company reported $2.03 earnings per share (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 business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.17 billion. During the same period in the prior year, the company posted $4.03 earnings per share. The firm’s revenue was down 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Wednesday, February 4th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Wednesday, February 4th. Lennar’s dividend payout ratio (DPR) is currently 25.03%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LEN. Evercore lowered shares of Lennar from an “in-line” rating to an “underperform” rating and reduced their price objective for the company from $114.00 to $92.00 in a research report on Thursday, December 18th. The Goldman Sachs Group reissued a “neutral” rating and set a $125.00 target price on shares of Lennar in a research note on Tuesday, January 13th. Argus raised Lennar to a “strong-buy” rating in a report on Friday, January 16th. Keefe, Bruyette & Woods cut their price objective on Lennar from $125.00 to $115.00 and set a “market perform” rating for the company in a research report on Thursday, December 18th. Finally, Barclays decreased their target price on Lennar from $98.00 to $88.00 and set an “underweight” rating on the stock in a report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $106.38.

About Lennar

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.