Arrow Financial Corp Sells 3,093 Shares of Lennar Corporation (NYSE:LEN)

Arrow Financial Corp decreased its position in shares of Lennar Corporation (NYSE:LEN - Free Report) by 27.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm 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.

Several other institutional investors and hedge funds have also modified their holdings of the company. Castlekeep Investment Advisors LLC acquired a new stake in shares of Lennar in the fourth quarter worth $218,533,000. Wellington Management Group LLP increased its position in shares of 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 acquiring an additional 515,378 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Lennar in the first quarter worth $37,055,000. D1 Capital Partners L.P. grew its holdings in Lennar by 67.3% during the 4th quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company's stock valued at $88,116,000 after purchasing an additional 270,433 shares in the last quarter. Finally, Man Group plc grew its holdings in Lennar by 112.5% during the 4th quarter. Man Group plc now owns 506,722 shares of the construction company's stock valued at $69,102,000 after purchasing an additional 268,209 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Lennar Stock Performance

NYSE:LEN traded down $0.19 during mid-day trading on Monday, hitting $109.38. The stock had a trading volume of 2,277,616 shares, compared to its average volume of 2,721,553. The stock has a market capitalization of $28.33 billion, a price-to-earnings ratio of 9.05, a P/E/G ratio of 4.65 and a beta of 1.33. 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 company has a 50 day simple moving average of $109.52 and a 200-day simple moving average of $116.19. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $187.61.

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

Lennar Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Thursday, July 3rd. Lennar's dividend payout ratio (DPR) is presently 16.54%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LEN shares. Evercore ISI lowered their price target 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. Royal Bank Of Canada reduced 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 note on Wednesday, June 18th. Keefe, Bruyette & Woods reduced their price objective on shares of Lennar from $128.00 to $114.00 and set a "market perform" rating on the stock in a research note on Friday, June 20th. Barclays reduced their price objective on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Finally, Bank of America reduced their price objective on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $128.85.

About Lennar

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.