Lennar Corporation $LEN Shares Sold by LSV Asset Management

LSV Asset Management trimmed its stake in Lennar Corporation (NYSE:LEN) by 99.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,400 shares of the construction company’s stock after selling 669,986 shares during the quarter. LSV Asset Management’s holdings in Lennar were worth $429,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of LEN. Guerra Advisors Inc purchased a new position in Lennar during the third quarter worth approximately $25,000. FNY Investment Advisers LLC acquired a new stake in Lennar in the second quarter valued at approximately $33,000. Rexford Capital Inc. purchased a new stake in Lennar during the 2nd quarter worth $36,000. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Lennar in the second quarter worth about $43,000. Finally, Cary Street Partners Financial LLC purchased a new position in shares of Lennar during the 2nd quarter valued at approximately $47,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

LEN has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of Lennar from $125.00 to $115.00 and set a “market perform” rating for the company in a research note on Thursday, December 18th. Citizens Jmp reissued a “market perform” rating on shares of Lennar in a research report on Wednesday, January 7th. Royal Bank Of Canada set a $88.00 target price on shares of Lennar in a research note on Friday, January 9th. Zacks Research downgraded Lennar from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. Finally, Bank of America reissued an “underperform” rating and issued a $95.00 price objective (down from $125.00) on shares of Lennar in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and eight have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $106.38.

Lennar Stock Down 0.7%

LEN stock opened at $121.40 on Wednesday. The stock has a market cap of $29.98 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.78 and a beta of 1.44. The firm’s 50-day simple moving average is $113.14 and its 200 day simple moving average is $122.09. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $144.24. The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18.

Lennar (NYSE:LEN) last posted its earnings results on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.27). The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.17 billion. Lennar had a return on equity of 9.27% and a net margin of 6.08%.Lennar’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the company posted $4.03 EPS. As a group, sell-side analysts predict that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Wednesday, February 4th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Wednesday, February 4th. Lennar’s payout ratio is 25.03%.

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.