Lennar (NYSE:LEN) Hits New 52-Week Low – Time to Sell?

Shares of Lennar Corporation (NYSE:LEN) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $79.77 and last traded at $80.1620, with a volume of 1385853 shares. The stock had previously closed at $80.37.

Analyst Ratings Changes

Several equities analysts recently commented on LEN shares. Benchmark upgraded Lennar to a “hold” rating in a research note on Thursday, September 3rd. Barclays decreased their target price on Lennar from $80.00 to $79.00 and set an “underweight” rating for the company in a research report on Monday, June 15th. Zacks Research lowered Lennar from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 16th. Wells Fargo & Company set a $80.00 price target on Lennar in a research note on Friday. Finally, Argus set a $108.00 price objective on Lennar in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and ten have given a Sell rating to the stock. According to data from MarketBeat.com, Lennar presently has a consensus rating of “Reduce” and an average price target of $91.80.

Lennar Price Performance

The business’s 50 day moving average is $84.96 and its two-hundred day moving average is $89.75. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91. The firm has a market capitalization of $19.05 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 2.71 and a beta of 1.39.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.07. The firm had revenue of $7.94 billion for the quarter, compared to the consensus estimate of $8.08 billion. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.81 earnings per share. Equities research analysts anticipate that Lennar Corporation will post 5.46 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 10th were paid a $0.50 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.00 annualized dividend and a yield of 2.5%. Lennar’s dividend payout ratio (DPR) is currently 31.30%.

Institutional Investors Weigh In On Lennar

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC boosted its position in shares of Lennar by 5.3% in the second quarter. Sequoia Financial Advisors LLC now owns 14,609 shares of the construction company’s stock valued at $1,322,000 after acquiring an additional 735 shares during the period. Van Hulzen Asset Management LLC purchased a new stake in Lennar in the 2nd quarter worth approximately $317,000. Cidel Asset Management Inc. lifted its stake in Lennar by 15.6% in the 2nd quarter. Cidel Asset Management Inc. now owns 4,873 shares of the construction company’s stock worth $441,000 after purchasing an additional 657 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC bought a new position in Lennar in the 2nd quarter valued at $232,000. Finally, Arizona State Retirement System grew its position in shares of Lennar by 5.2% during the 2nd quarter. Arizona State Retirement System now owns 58,627 shares of the construction company’s stock valued at $5,305,000 after purchasing an additional 2,908 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Lennar Company Profile

Lennar Corporation is one of the largest homebuilders in the United States. Founded in 1954 and headquartered in Miami, Florida, the company designs, constructs, and sells single-family homes and communities for a range of buyers, including first-time, move-up, and active-adult purchasers.

Lennar operates across many of the country’s major housing markets, including communities in the West, Southwest, Southeast, Mid-Atlantic, and other metropolitan areas. Its homebuilding operations offer a variety of floor plans and home designs, while the company also develops residential communities and provides related services such as mortgage financing, title, and closing services through its financial-services businesses.

In addition to traditional homebuilding, Lennar has expanded into multifamily development and other residential real-estate activities.