Lennar Corporation $LEN Shares Sold by Todd Asset Management LLC

Todd Asset Management LLC trimmed its holdings in Lennar Corporation (NYSE:LEN) by 8.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 192,542 shares of the construction company’s stock after selling 16,682 shares during the period. Todd Asset Management LLC’s holdings in Lennar were worth $19,793,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cibc World Market Inc. raised its stake in Lennar by 993.0% during the third quarter. Cibc World Market Inc. now owns 129,487 shares of the construction company’s stock worth $16,321,000 after purchasing an additional 117,640 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Lennar by 5.9% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 466,027 shares of the construction company’s stock worth $58,738,000 after purchasing an additional 26,117 shares in the last quarter. Boothbay Fund Management LLC boosted its position in Lennar by 201.1% in the 3rd quarter. Boothbay Fund Management LLC now owns 24,004 shares of the construction company’s stock valued at $3,025,000 after buying an additional 16,031 shares during the last quarter. Tounjian Advisory Partners LLC acquired a new stake in Lennar during the 4th quarter valued at approximately $2,599,000. Finally, Coronation Fund Managers Ltd. acquired a new stake in shares of Lennar during the third quarter worth approximately $14,160,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LEN. Wells Fargo & Company lowered their price target on Lennar from $100.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Weiss Ratings lowered shares of Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 16th. Argus decreased their target price on Lennar from $140.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Citigroup decreased their target price on Lennar from $113.00 to $104.00 and set a “neutral” rating for the company in a research note on Tuesday, March 17th. Finally, Seaport Research Partners restated a “sell” rating and issued a $74.00 target price (down from $140.00) on shares of Lennar in a research note on Tuesday, April 7th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and eight have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $99.87.

Lennar Stock Performance

Shares of LEN stock opened at $88.86 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average of $89.60 and a two-hundred day moving average of $106.14. Lennar Corporation has a 52 week low of $81.18 and a 52 week high of $144.24. The company has a market cap of $21.95 billion, a P/E ratio of 12.77, a PEG ratio of 1.96 and a beta of 1.41.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). The business had revenue of $6.62 billion for 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% on a year-over-year basis. During the same period last year, the firm posted $2.14 EPS. As a group, analysts anticipate that Lennar Corporation will post 5.87 EPS for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, April 22nd. Lennar’s payout ratio is 28.74%.

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.