Boston Partners Sells 400,591 Shares of Lennar Co. (NYSE:LEN)

Boston Partners cut its stake in Lennar Co. (NYSE:LEN) by 13.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,551,024 shares of the construction company’s stock after selling 400,591 shares during the quarter. Boston Partners’ holdings in Lennar were worth $347,860,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Generali Asset Management SPA SGR purchased a new position in shares of Lennar in the 4th quarter valued at $5,400,000. Horizon Investments LLC increased its holdings in shares of Lennar by 2.1% in the 4th quarter. Horizon Investments LLC now owns 4,818 shares of the construction company’s stock valued at $629,000 after acquiring an additional 98 shares during the period. TCTC Holdings LLC increased its holdings in shares of Lennar by 458.8% in the 4th quarter. TCTC Holdings LLC now owns 447 shares of the construction company’s stock valued at $61,000 after acquiring an additional 367 shares during the period. Cibc World Markets Corp increased its holdings in shares of Lennar by 14.9% in the 4th quarter. Cibc World Markets Corp now owns 37,654 shares of the construction company’s stock valued at $5,135,000 after acquiring an additional 4,889 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Lennar by 10.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,377 shares of the construction company’s stock valued at $1,006,000 after acquiring an additional 672 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Stock Performance

NYSE LEN opened at $119.00 on Tuesday. The stock has a market capitalization of $31.60 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 1.24 and a beta of 1.69. Lennar Co. has a twelve month low of $115.61 and a twelve month high of $187.61. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average of $127.21 and a 200 day moving average of $154.87.

Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same period in the previous year, the company posted $4.82 EPS. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. Sell-side analysts anticipate that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 annualized dividend and a yield of 1.68%. Lennar’s dividend payout ratio (DPR) is currently 13.95%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LEN. Bank of America dropped their target price on Lennar from $150.00 to $140.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Wedbush restated a “neutral” rating and set a $158.00 target price on shares of Lennar in a research note on Monday. Keefe, Bruyette & Woods downgraded Lennar from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $152.00 to $141.00 in a research note on Tuesday, March 11th. The Goldman Sachs Group dropped their target price on Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, December 23rd. Finally, Wolfe Research downgraded Lennar from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Fourteen investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Lennar has a consensus rating of “Hold” and a consensus price target of $165.53.

About Lennar

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company’s homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties.