Lennar Co. (NYSE:LEN) Shares Sold by Korea Investment CORP

Korea Investment CORP lessened its stake in shares of Lennar Co. (NYSE:LEN) by 19.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 213,121 shares of the construction company’s stock after selling 52,658 shares during the quarter. Korea Investment CORP owned 0.08% of Lennar worth $29,063,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Armstrong Advisory Group Inc. boosted its position in shares of Lennar by 69.4% during the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after purchasing an additional 75 shares during the period. Wolff Wiese Magana LLC lifted its stake in Lennar by 51.0% during the fourth quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company’s stock worth $32,000 after purchasing an additional 79 shares in the last quarter. Howard Capital Management Inc. grew its stake in shares of Lennar by 0.3% in the fourth quarter. Howard Capital Management Inc. now owns 28,836 shares of the construction company’s stock valued at $3,932,000 after buying an additional 81 shares in the last quarter. Premier Path Wealth Partners LLC raised its holdings in shares of Lennar by 2.1% in the 4th quarter. Premier Path Wealth Partners LLC now owns 4,284 shares of the construction company’s stock valued at $584,000 after buying an additional 87 shares during the period. Finally, Coldstream Capital Management Inc. lifted its stake in Lennar by 1.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 5,546 shares of the construction company’s stock worth $1,036,000 after acquiring an additional 92 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Price Performance

Shares of NYSE:LEN opened at $113.83 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. Lennar Co. has a 12 month low of $111.26 and a 12 month high of $187.61. The firm has a market capitalization of $30.22 billion, a P/E ratio of 7.94, a P/E/G ratio of 1.24 and a beta of 1.69. The company’s fifty day moving average price is $124.05 and its 200 day moving average price is $151.33.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.44. The firm had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.57 EPS. As a group, sell-side analysts predict that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were issued a $0.50 dividend. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.76%. Lennar’s payout ratio is 14.57%.

Analyst Ratings Changes

A number of analysts have issued reports on LEN shares. Keefe, Bruyette & Woods reduced their price target on shares of Lennar from $141.00 to $128.00 and set a “market perform” rating on the stock in a research report on Tuesday. Wells Fargo & Company reduced their target price on shares of Lennar from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 18th. Citigroup cut their price objective on Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada decreased their target price on Lennar from $125.00 to $122.00 and set a “sector perform” rating for the company in a report on Monday, March 24th. Finally, StockNews.com lowered Lennar from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $151.07.

Lennar Company Profile

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.