Lennar Corporation $LEN Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its holdings in Lennar Corporation (NYSE:LEN) by 27.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,020 shares of the construction company’s stock after selling 6,314 shares during the period. Pacer Advisors Inc.’s holdings in Lennar were worth $1,478,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Magnolia Group LLC purchased a new stake in shares of Lennar in the fourth quarter worth about $6,756,000. KBC Group NV raised its holdings in shares of Lennar by 34.3% during the 4th quarter. KBC Group NV now owns 62,689 shares of the construction company’s stock valued at $6,445,000 after buying an additional 15,998 shares during the period. MUFG Securities EMEA plc lifted its position in Lennar by 2,522.7% during the 4th quarter. MUFG Securities EMEA plc now owns 114,245 shares of the construction company’s stock worth $11,744,000 after acquiring an additional 109,889 shares in the last quarter. Third View Private Wealth LLC purchased a new position in Lennar in the 4th quarter worth approximately $1,269,000. Finally, Element Capital Management LLC acquired a new stake in Lennar in the fourth quarter valued at approximately $6,437,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LEN has been the topic of a number of recent research reports. Wells Fargo & Company reduced their target price on shares of Lennar from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Monday, June 15th. Truist Financial dropped their price target on shares of Lennar from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Thursday. Keefe, Bruyette & Woods cut their price objective on shares of Lennar from $86.00 to $85.00 and set an “underperform” rating on the stock in a report on Wednesday, June 17th. BTIG Research set a $67.00 target price on Lennar in a research note on Monday, June 15th. Finally, Barclays dropped their target price on Lennar from $80.00 to $79.00 and set an “underweight” rating on the stock in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and ten have given a Sell rating to the stock. According to MarketBeat, Lennar currently has a consensus rating of “Reduce” and an average target price of $92.13.

Lennar Trading Up 3.9%

LEN opened at $88.11 on Friday. Lennar Corporation has a 12-month low of $79.82 and a 12-month high of $144.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.91 and a quick ratio of 0.91. The stock has a market capitalization of $21.23 billion, a PE ratio of 13.79, a P/E/G ratio of 2.93 and a beta of 1.39. The firm’s fifty day moving average price is $87.52 and its 200 day moving average price is $95.08.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The business had revenue of $7.94 billion for the quarter, compared to analyst estimates of $8.08 billion. During the same quarter in the prior year, the business posted $1.81 EPS. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, research analysts expect that Lennar Corporation will post 5.52 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, July 10th. Lennar’s dividend payout ratio is currently 31.30%.

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.