Arrow Financial Corp Lowers Position in Lennar Corporation (NYSE:LEN)

Arrow Financial Corp decreased its position in shares of Lennar Corporation (NYSE:LEN - Free Report) by 27.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,112 shares of the construction company's stock after selling 3,093 shares during the quarter. Arrow Financial Corp's holdings in Lennar were worth $931,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Valeo Financial Advisors LLC lifted its position in Lennar by 1.1% during the first quarter. Valeo Financial Advisors LLC now owns 8,841 shares of the construction company's stock valued at $1,015,000 after buying an additional 95 shares during the period. Unison Advisors LLC boosted its stake in Lennar by 0.3% during the fourth quarter. Unison Advisors LLC now owns 37,040 shares of the construction company's stock worth $5,051,000 after acquiring an additional 100 shares in the last quarter. Mather Group LLC. grew its holdings in Lennar by 8.4% in the first quarter. Mather Group LLC. now owns 1,517 shares of the construction company's stock worth $174,000 after purchasing an additional 117 shares during the period. Omnia Family Wealth LLC increased its stake in shares of Lennar by 1.9% during the first quarter. Omnia Family Wealth LLC now owns 6,417 shares of the construction company's stock valued at $737,000 after purchasing an additional 119 shares in the last quarter. Finally, Legacy Advisors LLC lifted its holdings in shares of Lennar by 4.8% during the first quarter. Legacy Advisors LLC now owns 2,628 shares of the construction company's stock valued at $302,000 after purchasing an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group cut their price target on Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a research note on Wednesday, June 18th. Wells Fargo & Company lowered their price target on Lennar from $120.00 to $110.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Royal Bank Of Canada cut their price objective on shares of Lennar from $122.00 to $98.00 and set a "sector perform" rating on the stock in a research report on Wednesday, June 18th. Evercore ISI decreased their target price on shares of Lennar from $131.00 to $114.00 and set an "in-line" rating for the company in a report on Wednesday, June 18th. Finally, Zelman & Associates cut shares of Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $128.85.

Lennar Stock Performance

Shares of LEN stock traded down $3.58 on Thursday, reaching $113.68. The stock had a trading volume of 1,128,217 shares, compared to its average volume of 3,191,116. The stock has a market cap of $29.44 billion, a P/E ratio of 9.41, a price-to-earnings-growth ratio of 5.03 and a beta of 1.33. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $193.80. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.49 and a current ratio of 3.65. The company has a 50 day simple moving average of $109.76 and a 200 day simple moving average of $116.03.

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

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were given a dividend of $0.50 per share. The ex-dividend date was Thursday, July 3rd. This represents a $2.00 annualized dividend and a yield of 1.76%. Lennar's dividend payout ratio (DPR) is presently 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.