Adage Capital Partners GP L.L.C. Sells 226,700 Shares of Lennar Co. (NYSE:LEN)

Adage Capital Partners GP L.L.C. decreased its holdings in shares of Lennar Co. (NYSE:LEN - Free Report) by 50.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,117 shares of the construction company's stock after selling 226,700 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.08% of Lennar worth $30,426,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Armstrong Advisory Group Inc. lifted its position in shares of Lennar by 69.4% in the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company's stock worth $25,000 after purchasing an additional 75 shares in the last quarter. Crews Bank & Trust purchased a new stake in Lennar in the 4th quarter worth approximately $25,000. Hurley Capital LLC purchased a new position in shares of Lennar during the 4th quarter valued at $26,000. SBI Securities Co. Ltd. acquired a new position in shares of Lennar in the fourth quarter worth $28,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Lennar during the fourth quarter worth $32,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Stock Performance

Shares of NYSE LEN traded up $0.10 during trading hours on Wednesday, reaching $107.68. The stock had a trading volume of 960,796 shares, compared to its average volume of 2,558,203. The company has a market cap of $28.41 billion, a price-to-earnings ratio of 7.51, a PEG ratio of 1.24 and a beta of 1.51. Lennar Co. has a twelve month low of $98.42 and a twelve month high of $187.61. The business's fifty day moving average is $113.89 and its two-hundred day moving average is $138.56. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.44. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same period last year, the firm earned $2.57 EPS. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, research analysts expect that Lennar Co. will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, April 23rd. This represents a $2.00 annualized dividend and a yield of 1.86%. Lennar's dividend payout ratio is currently 14.57%.

Analyst Ratings Changes

A number of brokerages have commented on LEN. Barclays lowered their target price on Lennar from $121.00 to $110.00 and set an "equal weight" rating on the stock in a research note on Monday, March 24th. UBS Group dropped their price objective on Lennar from $183.00 to $164.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Evercore ISI reissued an "in-line" rating and issued a $131.00 target price (down from $159.00) on shares of Lennar in a research report on Monday, March 24th. StockNews.com raised shares of Lennar from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Seaport Res Ptn raised shares of Lennar from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Fifteen investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $150.07.

Lennar Company Profile

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.