Lennar Corporation $LEN Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly reduced its stake in Lennar Corporation by 70.9%, owning only 2,684 shares after selling 6,542 during the first quarter.
• Several hedge funds showed interest in Lennar, with Castlekeep Investment Advisors LLC making a notable purchase worth $218.5 million in the fourth quarter.
• Lennar reported EPS of $1.90 for the latest quarter, falling short of analyst expectations, while its quarterly revenue was $8.38 billion—exceeding projections by $0.17 billion.

AlphaQuest LLC lessened its stake in Lennar Corporation (NYSE:LEN - Free Report) by 70.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,684 shares of the construction company's stock after selling 6,542 shares during the quarter. AlphaQuest LLC's holdings in Lennar were worth $308,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LEN. Castlekeep Investment Advisors LLC purchased a new stake in Lennar in the 4th quarter worth $218,533,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Lennar during the first quarter worth $41,788,000. AustralianSuper Pty Ltd purchased a new stake in shares of Lennar during the first quarter worth $37,055,000. Berkshire Asset Management LLC PA purchased a new stake in shares of Lennar during the first quarter worth $33,394,000. Finally, Man Group plc grew its holdings in shares of Lennar by 112.5% during the fourth quarter. Man Group plc now owns 506,722 shares of the construction company's stock worth $69,102,000 after buying an additional 268,209 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on LEN shares. Barclays dropped their target price on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. Bank of America dropped their target price on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, June 18th. UBS Group dropped their price objective on shares of Lennar from $164.00 to $146.00 and set a "buy" rating for the company in a report on Wednesday, June 18th. Wedbush reissued a "neutral" rating and issued a $130.00 price objective on shares of Lennar in a report on Wednesday, June 18th. Finally, Wall Street Zen lowered shares of Lennar from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, Lennar presently has an average rating of "Hold" and an average target price of $128.85.

Lennar Trading Up 0.1%

NYSE LEN traded up $0.15 during trading hours on Friday, reaching $133.28. The company had a trading volume of 1,846,892 shares, compared to its average volume of 3,105,015. The stock has a 50-day moving average of $118.89 and a 200 day moving average of $114.45. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $193.80. The company has a current ratio of 3.65, a quick ratio of 0.49 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $34.52 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 5.65 and a beta of 1.33.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.04). The business had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.21 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%.The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.45 EPS. As a group, research analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.5%. The ex-dividend date was Thursday, July 3rd. Lennar's dividend payout ratio is currently 16.54%.

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.