Natixis Advisors LLC Reduces Stock Position in Lennar Corporation $LEN

Natixis Advisors LLC trimmed its stake in shares of Lennar Corporation (NYSE:LEN) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 132,013 shares of the construction company’s stock after selling 6,277 shares during the quarter. Natixis Advisors LLC’s holdings in Lennar were worth $13,571,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cibc World Market Inc. raised its stake 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 valued at $16,321,000 after purchasing an additional 117,640 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake 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 valued at $58,738,000 after purchasing an additional 26,117 shares during the period. Boothbay Fund Management LLC raised its stake in shares of Lennar by 201.1% during the 3rd quarter. Boothbay Fund Management LLC now owns 24,004 shares of the construction company’s stock valued at $3,025,000 after purchasing an additional 16,031 shares during the period. Tounjian Advisory Partners LLC bought a new stake in shares of Lennar during the 4th quarter valued at $2,599,000. Finally, Coronation Fund Managers Ltd. bought a new stake in shares of Lennar during the 3rd quarter valued at $14,160,000. 81.10% of the stock is currently owned by institutional investors.

Lennar Price Performance

Shares of NYSE LEN opened at $90.63 on Friday. The firm has a market capitalization of $22.38 billion, a P/E ratio of 13.02, a P/E/G ratio of 2.00 and a beta of 1.39. 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’s 50-day simple moving average is $88.97 and its two-hundred day simple moving average is $104.25. Lennar Corporation has a twelve month low of $81.18 and a twelve month high of $144.24.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). The business had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.Lennar’s revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.14 earnings per share. As a group, equities analysts anticipate that Lennar Corporation will post 5.87 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, April 22nd. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. Lennar’s dividend payout ratio is 28.74%.

Analysts Set New Price Targets

A number of analysts recently issued reports on LEN shares. Keefe, Bruyette & Woods decreased their price objective on Lennar from $105.00 to $97.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 1st. Weiss Ratings lowered Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 16th. Truist Financial decreased their target price on Lennar from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Tuesday, March 31st. Wells Fargo & Company decreased their target price on Lennar from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Finally, Argus decreased their target price on Lennar from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Lennar currently has an average rating of “Reduce” and a consensus price target of $99.87.

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.