Grantham Mayo Van Otterloo & Co. LLC Lowers Stock Position in Lennar Corporation $LEN

Grantham Mayo Van Otterloo & Co. LLC lessened its holdings in shares of Lennar Corporation (NYSE:LEN) by 3.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 225,178 shares of the construction company’s stock after selling 7,927 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Lennar were worth $28,381,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Viking Global Investors LP lifted its position in Lennar by 86.7% during the 2nd quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after acquiring an additional 1,172,068 shares during the period. Todd Asset Management LLC purchased a new stake in Lennar in the third quarter worth about $26,371,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of Lennar by 319.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 274,173 shares of the construction company’s stock valued at $34,557,000 after purchasing an additional 208,800 shares in the last quarter. River Road Asset Management LLC lifted its holdings in shares of Lennar by 86.1% during the second quarter. River Road Asset Management LLC now owns 443,477 shares of the construction company’s stock valued at $49,749,000 after purchasing an additional 205,234 shares during the last quarter. Finally, Aviva PLC boosted its position in shares of Lennar by 1,656.1% in the 2nd quarter. Aviva PLC now owns 155,626 shares of the construction company’s stock worth $17,214,000 after purchasing an additional 146,764 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Truist Financial initiated coverage on Lennar in a research note on Wednesday, March 4th. They issued a “hold” rating and a $110.00 price target on the stock. The Goldman Sachs Group dropped their target price on Lennar from $125.00 to $118.00 and set a “neutral” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods cut their target price on Lennar from $125.00 to $115.00 and set a “market perform” rating on the stock in a research note on Thursday, December 18th. Barclays lowered their price target on Lennar from $98.00 to $88.00 and set an “underweight” rating for the company in a research report on Thursday, December 18th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Lennar from $115.00 to $80.00 and set an “underweight” rating on the stock in a research note on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $106.14.

Lennar Stock Performance

Shares of LEN opened at $101.43 on Monday. The company has a market cap of $25.05 billion, a price-to-earnings ratio of 12.69, a P/E/G ratio of 1.47 and a beta of 1.43. The business’s fifty day simple moving average is $113.21 and its two-hundred day simple moving average is $120.83. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $144.24. The company has a current ratio of 4.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Tuesday, December 16th. The construction company reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.27). The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.17 billion. Lennar had a return on equity of 9.27% and a net margin of 6.08%.The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.03 EPS. Research analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Wednesday, February 4th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 4th. This represents a $2.00 annualized dividend and a yield of 2.0%. Lennar’s dividend payout ratio is currently 25.03%.

About Lennar

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.