Natixis Advisors LLC Cuts Stock Holdings in Lennar Corporation $LEN

Natixis Advisors LLC decreased its stake in shares of Lennar Corporation (NYSE:LEN) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 132,013 shares of the construction company’s stock after selling 6,277 shares during the period. Natixis Advisors LLC owned about 0.05% of Lennar worth $13,571,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Lazard Asset Management LLC boosted its position in shares of Lennar by 7.1% during the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock valued at $141,000 after buying an additional 85 shares during the last quarter. Zions Bancorporation National Association UT boosted its position in shares of Lennar by 8.3% during the third quarter. Zions Bancorporation National Association UT now owns 1,127 shares of the construction company’s stock valued at $142,000 after buying an additional 86 shares during the last quarter. RFG Advisory LLC boosted its position in shares of Lennar by 2.1% during 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 last quarter. New Mexico Educational Retirement Board boosted its position in shares of Lennar by 1.0% during the fourth quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company’s stock valued at $1,086,000 after buying an additional 100 shares during the last quarter. Finally, Provenance Wealth Advisors LLC lifted its holdings in Lennar by 23.8% during the third quarter. Provenance Wealth Advisors LLC now owns 619 shares of the construction company’s stock worth $78,000 after acquiring an additional 119 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LEN. Zacks Research raised Lennar from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. Citigroup cut their price objective on Lennar from $113.00 to $104.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 17th. Evercore cut their price objective on Lennar from $89.00 to $82.00 and set an “underperform” rating on the stock in a research report on Monday, April 13th. Argus cut their price objective on Lennar from $140.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Finally, Weiss Ratings cut Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 16th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and eight have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $99.87.

Lennar Stock Performance

Shares of LEN opened at $90.63 on Friday. The firm has a market cap of $22.38 billion, a PE ratio of 13.02, a PEG ratio of 2.00 and a beta of 1.39. The stock’s fifty day moving average price is $88.97 and its two-hundred day moving average price is $104.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97. Lennar Corporation has a 1 year low of $81.18 and a 1 year high of $144.24.

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

Lennar Announces Dividend

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

Lennar Profile

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.