Systematic Alpha Investments LLC Sells 7,090 Shares of Lennar Corporation $LEN

Systematic Alpha Investments LLC lowered its stake in shares of Lennar Corporation (NYSE:LEN) by 66.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,639 shares of the construction company’s stock after selling 7,090 shares during the period. Systematic Alpha Investments LLC’s holdings in Lennar were worth $459,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Viking Global Investors LP boosted its stake in shares of Lennar by 86.7% during the 2nd quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock worth $279,135,000 after acquiring an additional 1,172,068 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Lennar by 7.0% during the third quarter. Envestnet Asset Management Inc. now owns 1,154,892 shares of the construction company’s stock worth $145,563,000 after acquiring an additional 75,574 shares during the period. Swiss National Bank grew its position in shares of Lennar by 4.3% in the second quarter. Swiss National Bank now owns 702,872 shares of the construction company’s stock valued at $77,745,000 after purchasing an additional 29,300 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake 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 during the period. Finally, Basswood Capital Management L.L.C. lifted its holdings in Lennar by 10.6% during the 2nd quarter. Basswood Capital Management L.L.C. now owns 448,984 shares of the construction company’s stock worth $49,662,000 after purchasing an additional 43,051 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

LEN has been the subject of a number of recent research reports. Truist Financial initiated coverage on shares of Lennar in a research report on Wednesday. They issued a “hold” rating and a $110.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Lennar in a research note on Thursday, January 22nd. Barclays decreased their target price on shares of Lennar from $98.00 to $88.00 and set an “underweight” rating on the stock in a research report on Thursday, December 18th. Keefe, Bruyette & Woods dropped their price target on shares of Lennar from $125.00 to $115.00 and set a “market perform” rating for the company in a research report on Thursday, December 18th. Finally, JPMorgan Chase & Co. reduced their price objective 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 research analyst has rated the stock with a Strong Buy rating, ten have given a Hold rating and eight have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $106.64.

Lennar Stock Down 2.2%

LEN stock opened at $104.20 on Friday. The firm has a 50-day moving average price of $113.28 and a 200-day moving average price of $121.19. 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. The stock has a market capitalization of $25.74 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 1.55 and a beta of 1.43.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.27). The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.17 billion. Lennar had a net margin of 6.08% and a return on equity of 9.27%. Lennar’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $4.03 EPS. As a group, equities research analysts anticipate that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Wednesday, February 4th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 4th. This represents a $2.00 dividend on an annualized basis and a yield of 1.9%. Lennar’s payout ratio is currently 25.03%.

Lennar 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.