Quantitative Investment Management LLC Sells 6,433 Shares of Lennar Corporation $LEN

Quantitative Investment Management LLC cut its stake in shares of Lennar Corporation (NYSE:LEN) by 48.3% during the second quarter, HoldingsChannel.com reports. The fund owned 6,873 shares of the construction company’s stock after selling 6,433 shares during the quarter. Quantitative Investment Management LLC’s holdings in Lennar were worth $621,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. DV Equities LLC bought a new position in Lennar in the fourth quarter worth approximately $31,000. Phillip James Consulting Co. purchased a new stake in shares of Lennar in the 1st quarter worth $30,000. Quarry LP bought a new position in shares of Lennar during the 4th quarter worth $41,000. Cary Street Partners Financial LLC purchased a new position in shares of Lennar during the second quarter valued at $47,000. Finally, IFC & Insurance Marketing Inc. bought a new stake in shares of Lennar in the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

Shares of Lennar stock opened at $83.07 on Wednesday. The company has a market capitalization of $20.01 billion, a PE ratio of 13.00, a P/E/G ratio of 2.79 and a beta of 1.39. The company has a 50-day simple moving average of $86.20 and a two-hundred day simple moving average of $91.63. Lennar Corporation has a one year low of $79.82 and a one year high of $144.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. The business had revenue of $7.94 billion for the quarter, compared to analysts’ expectations of $8.08 billion. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The company’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the business earned $1.81 EPS. Research analysts expect that Lennar Corporation will post 5.52 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. Lennar’s dividend payout ratio is presently 31.30%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. BTIG Research set a $67.00 target price on shares of Lennar in a report on Monday, June 15th. Royal Bank Of Canada lowered their price target on shares of Lennar from $88.00 to $85.00 and set an “underperform” rating for the company in a research report on Monday, June 15th. Zacks Research downgraded shares of Lennar from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 16th. Truist Financial cut their price objective on shares of Lennar from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Thursday, August 6th. Finally, Argus set a $108.00 target price on Lennar in a report on Thursday, July 9th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and ten have given a Sell rating to the company’s stock. According to MarketBeat, Lennar presently has an average rating of “Reduce” and a consensus target price of $92.13.

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.