LSV Asset Management Sells 62,746 Shares of Lennar Corporation $LEN

LSV Asset Management lessened its stake in Lennar Corporation (NYSE:LEN) by 8.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 673,386 shares of the construction company’s stock after selling 62,746 shares during the quarter. LSV Asset Management owned approximately 0.26% of Lennar worth $74,483,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. FNY Investment Advisers LLC bought a new position in Lennar during the 2nd quarter valued at $33,000. Disciplina Capital Management LLC raised its holdings in shares of Lennar by 179.8% in the first quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock valued at $38,000 after purchasing an additional 214 shares during the last quarter. Mid American Wealth Advisory Group Inc. bought a new position in shares of Lennar during the second quarter valued at about $43,000. SBI Securities Co. Ltd. grew its position in Lennar by 190.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 573 shares of the construction company’s stock worth $63,000 after purchasing an additional 376 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in Lennar in the 1st quarter valued at about $66,000. Institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LEN. Evercore ISI cut their target price on Lennar from $118.00 to $114.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 7th. Wells Fargo & Company cut their price objective on Lennar from $135.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Friday, October 10th. JPMorgan Chase & Co. decreased their target price on Lennar from $97.00 to $92.00 and set a “neutral” rating for the company in a research report on Monday, September 22nd. JMP Securities boosted their price target on shares of Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a report on Monday, September 22nd. Finally, Zacks Research lowered shares of Lennar from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lennar currently has a consensus rating of “Hold” and an average price target of $121.75.

Lennar Stock Down 5.7%

Shares of NYSE LEN opened at $114.19 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. The stock has a market capitalization of $29.12 billion, a PE ratio of 11.28, a P/E/G ratio of 5.78 and a beta of 1.33. Lennar Corporation has a one year low of $98.42 and a one year high of $180.12. The business’s fifty day moving average price is $125.79 and its 200-day moving average price is $119.39.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, September 18th. The construction company reported $2.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.14). The firm had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The company’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.90 earnings per share. On average, equities research analysts anticipate that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Friday, October 10th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, October 10th. Lennar’s dividend payout ratio is presently 19.76%.

About Lennar

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.