Waratah Capital Advisors Ltd. Has $6.30 Million Holdings in Lennar Co. (NYSE:LEN)

Waratah Capital Advisors Ltd. trimmed its position in Lennar Co. (NYSE:LENGet Rating) by 70.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,662 shares of the construction company’s stock after selling 182,492 shares during the quarter. Waratah Capital Advisors Ltd.’s holdings in Lennar were worth $6,304,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. City State Bank acquired a new position in shares of Lennar in the fourth quarter valued at $27,000. Riverview Trust Co acquired a new position in shares of Lennar in the first quarter valued at $28,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Lennar in the fourth quarter valued at $34,000. North Star Investment Management Corp. acquired a new position in shares of Lennar in the first quarter valued at $49,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in Lennar during the first quarter worth $66,000. 82.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LEN. Raymond James dropped their price objective on Lennar from $125.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, June 22nd. KeyCorp dropped their price objective on Lennar from $75.00 to $60.00 and set an “underweight” rating for the company in a research note on Wednesday, June 22nd. Barclays dropped their price objective on Lennar from $93.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 22nd. Wells Fargo & Company dropped their price objective on Lennar from $85.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday, June 17th. Finally, StockNews.com lowered Lennar from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $93.31.

Lennar Trading Down 0.8 %

Lennar stock traded down $0.67 during mid-day trading on Friday, hitting $84.73. The stock had a trading volume of 2,315,407 shares, compared to its average volume of 2,767,051. The stock has a 50-day simple moving average of $76.87 and a two-hundred day simple moving average of $81.75. The stock has a market capitalization of $24.69 billion, a PE ratio of 5.80, a P/E/G ratio of 4.86 and a beta of 1.51. Lennar Co. has a 12 month low of $62.54 and a 12 month high of $117.54. The company has a current ratio of 8.06, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21.

Lennar (NYSE:LENGet Rating) last posted its quarterly earnings results on Tuesday, June 21st. The construction company reported $4.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.95 by $0.74. Lennar had a return on equity of 21.45% and a net margin of 14.77%. The business had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.13 billion. During the same quarter last year, the business earned $2.95 earnings per share. As a group, sell-side analysts forecast that Lennar Co. will post 17.24 EPS for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 21st. Shareholders of record on Thursday, July 7th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Wednesday, July 6th. Lennar’s dividend payout ratio (DPR) is currently 10.27%.

Insiders Place Their Bets

In other Lennar news, VP David M. Collins sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $82.00, for a total transaction of $1,230,000.00. Following the transaction, the vice president now owns 41,382 shares in the company, valued at $3,393,324. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 9.08% of the company’s stock.

Lennar Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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