Lennar Corporation (NYSE:LEN) Shares Sold by Arrow Financial Corp

Arrow Financial Corp lessened its holdings in Lennar Corporation (NYSE:LEN - Free Report) by 27.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 8,112 shares of the construction company's stock after selling 3,093 shares during the period. Arrow Financial Corp's holdings in Lennar were worth $931,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its stake in Lennar by 3.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company's stock worth $834,115,000 after purchasing an additional 213,003 shares during the last quarter. Wellington Management Group LLP lifted its stake in Lennar by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company's stock worth $441,769,000 after purchasing an additional 515,378 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Lennar in the fourth quarter worth about $218,533,000. Eminence Capital LP raised its stake in shares of Lennar by 43.4% during the fourth quarter. Eminence Capital LP now owns 685,225 shares of the construction company's stock valued at $93,444,000 after acquiring an additional 207,343 shares in the last quarter. Finally, D1 Capital Partners L.P. raised its stake in shares of Lennar by 67.3% during the fourth quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company's stock valued at $88,116,000 after acquiring an additional 270,433 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on LEN. Evercore ISI decreased their price target on shares of Lennar from $131.00 to $114.00 and set an "in-line" rating for the company in a research note on Wednesday, June 18th. Wells Fargo & Company decreased their price target on shares of Lennar from $120.00 to $110.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Wedbush reaffirmed a "neutral" rating and set a $130.00 price target on shares of Lennar in a research note on Wednesday, June 18th. The Goldman Sachs Group decreased their price target on shares of Lennar from $141.00 to $120.00 and set a "neutral" rating for the company in a research note on Tuesday, March 25th. Finally, JMP Securities reduced their price objective on shares of Lennar from $150.00 to $130.00 and set a "market outperform" rating for the company in a research note on Friday, June 20th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $128.85.

Lennar Stock Down 1.0%

NYSE LEN traded down $1.19 on Wednesday, hitting $117.34. The stock had a trading volume of 2,937,567 shares, compared to its average volume of 2,733,647. The business's fifty day moving average price is $109.52 and its 200 day moving average price is $116.19. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. Lennar Corporation has a 52-week low of $98.42 and a 52-week high of $187.61. The stock has a market cap of $30.39 billion, a price-to-earnings ratio of 9.71, a price-to-earnings-growth ratio of 4.65 and a beta of 1.33.

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

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Thursday, July 3rd. 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.