Aware Super Pty Ltd as trustee of Aware Super Sells 60,382 Shares of Lennar Corporation $LEN

Key Points

• Aware Super Pty Ltd reduced its stake in Lennar Corporation by 48.8%, selling 60,382 shares, leaving it with 63,291 shares valued at approximately $7 million.
• Lennar recently reported quarterly earnings of $2.29 per share, exceeding estimates but facing a 6.4% revenue decline year-over-year, generating $8.81 billion compared to expectations of $9.01 billion.
• The company is set to pay a quarterly dividend of $0.50 per share on October 27th, yielding 1.6% on an annualized basis, with a current payout ratio of 19.76%.

Aware Super Pty Ltd as trustee of Aware Super trimmed its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 48.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,291 shares of the construction company's stock after selling 60,382 shares during the quarter. Aware Super Pty Ltd as trustee of Aware Super's holdings in Lennar were worth $7,001,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of LEN. Disciplina Capital Management LLC boosted its stake in Lennar by 179.8% in the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company's stock valued at $38,000 after buying an additional 214 shares in the last quarter. Oakworth Capital Inc. lifted its holdings in shares of Lennar by 139.9% during the first quarter. Oakworth Capital Inc. now owns 343 shares of the construction company's stock valued at $39,000 after acquiring an additional 200 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Lennar in the 1st quarter valued at $44,000. Valley National Advisers Inc. grew its holdings in shares of Lennar by 34.7% in the 1st quarter. Valley National Advisers Inc. now owns 466 shares of the construction company's stock worth $53,000 after purchasing an additional 120 shares during the last quarter. Finally, Horizon Financial Services LLC bought a new position in Lennar during the 1st quarter valued at about $66,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Trading Up 0.2%

NYSE:LEN opened at $122.52 on Thursday. The business's 50-day moving average price is $129.44 and its two-hundred day moving average price is $116.57. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $189.65. The firm has a market capitalization of $31.24 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 5.69 and a beta of 1.37. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15.

Lennar (NYSE:LEN - Get Free Report) last issued its earnings results on Thursday, September 18th. The construction company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.14 by $0.15. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The firm had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $9.01 billion. During the same quarter in the prior year, the firm earned $3.90 earnings per share. The business's quarterly revenue was down 6.4% on a year-over-year basis. On average, equities analysts expect that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, October 10th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, October 10th. Lennar's dividend payout ratio is presently 19.76%.

Analyst Ratings Changes

LEN has been the topic of several research analyst reports. Royal Bank Of Canada upped their price objective on shares of Lennar from $98.00 to $106.00 and gave the stock a "sector perform" rating in a research note on Monday, September 22nd. Wall Street Zen downgraded Lennar from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Zacks Research cut Lennar from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods reduced their price objective on Lennar from $128.00 to $114.00 and set a "market perform" rating on the stock in a research note on Friday, June 20th. Finally, JMP Securities increased their target price on Lennar from $130.00 to $140.00 and gave the stock a "market outperform" rating in a report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $121.75.

Lennar 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.

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