Quantitative Investment Management LLC Decreases Stake in Lennar Corporation $LEN

Quantitative Investment Management LLC cut its position in shares of Lennar Corporation (NYSE:LEN) by 48.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,873 shares of the construction company’s stock after selling 6,433 shares during the period. Quantitative Investment Management LLC’s holdings in Lennar were worth $621,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Phillip James Consulting Co. bought a new position in shares of Lennar during the 1st quarter valued at approximately $30,000. DV Equities LLC bought a new stake in Lennar in the fourth quarter worth $31,000. Global Assets Advisory LLC purchased a new stake in Lennar during the first quarter valued at $39,000. Quarry LP bought a new position in Lennar during the fourth quarter valued at $41,000. Finally, IFC & Insurance Marketing Inc. purchased a new position in shares of Lennar in the 4th quarter worth $45,000. Institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

LEN has been the topic of several recent research reports. Wells Fargo & Company decreased their target price on shares of Lennar from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Monday, June 15th. Truist Financial reduced their price objective on Lennar from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Thursday, August 6th. Keefe, Bruyette & Woods decreased their price objective on Lennar from $86.00 to $85.00 and set an “underperform” rating on the stock in a research report on Wednesday, June 17th. Evercore raised their price objective on Lennar from $82.00 to $87.00 and gave the company an “underperform” rating in a research note on Monday, June 15th. Finally, JPMorgan Chase & Co. cut their target price on Lennar from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and ten have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $92.13.

Lennar Stock Performance

Shares of NYSE:LEN opened at $83.07 on Wednesday. The company has a current ratio of 4.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. Lennar Corporation has a 12 month low of $79.82 and a 12 month high of $144.24. The company has a market capitalization of $20.01 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 2.79 and a beta of 1.39. The firm’s 50-day moving average is $86.20 and its 200 day moving average is $91.63.

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

Lennar Dividend Announcement

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

Lennar Company 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.