Baypointe Partners LLC Sells 12,450 Shares of Lennar Corporation $LEN

Key Points

• Baypointe Partners LLC cut its stake in Lennar by 41.5% in Q4, selling 12,450 shares and retaining 17,550 shares worth $1.804 million (about 3.8% of the fund and its 10th largest holding).
• Analysts have trimmed price targets and ratings for LEN, leaving a MarketBeat consensus of "Reduce" with a $99.87 target after multiple downgrades.
• Lennar missed its most recent quarter estimates (EPS $0.88 vs. $0.95; revenue down 13.3% YoY) but declared a quarterly dividend of $0.50 (2.3% yield, payable May 6).

Baypointe Partners LLC lowered its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 41.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,550 shares of the construction company's stock after selling 12,450 shares during the period. Lennar accounts for approximately 3.8% of Baypointe Partners LLC's portfolio, making the stock its 10th biggest holding. Baypointe Partners LLC's holdings in Lennar were worth $1,804,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in LEN. Viking Global Investors LP boosted its stake in shares of Lennar by 86.7% during the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company's stock valued at $279,135,000 after acquiring an additional 1,172,068 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Lennar by 14.6% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company's stock valued at $596,504,000 after acquiring an additional 603,004 shares during the last quarter. Todd Asset Management LLC acquired a new stake in shares of Lennar during the third quarter valued at $26,371,000. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Lennar by 319.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 274,173 shares of the construction company's stock valued at $34,557,000 after acquiring an additional 208,800 shares during the last quarter. Finally, Duquesne Family Office LLC boosted its stake in shares of Lennar by 210.8% during the third quarter. Duquesne Family Office LLC now owns 279,424 shares of the construction company's stock valued at $35,219,000 after acquiring an additional 189,524 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Analysts Set New Price Targets

LEN has been the topic of a number of research analyst reports. Argus decreased their price target on Lennar from $140.00 to $125.00 and set a "buy" rating on the stock in a research note on Wednesday, April 15th. Evercore decreased their price target on Lennar from $89.00 to $82.00 and set an "underperform" rating on the stock in a research note on Monday, April 13th. UBS Group decreased their price target on Lennar from $122.00 to $107.00 and set a "neutral" rating on the stock in a research note on Monday, March 16th. Zacks Research raised Lennar from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 19th. Finally, Citizens Jmp reissued a "market perform" rating on shares of Lennar in a research note on Wednesday, January 7th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and eight have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $99.87.

Lennar Stock Performance

NYSE LEN opened at $88.55 on Monday. The firm has a market capitalization of $21.87 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.94 and a beta of 1.41. Lennar Corporation has a 1-year low of $83.03 and a 1-year high of $144.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97. The business's 50-day simple moving average is $95.71 and its 200-day simple moving average is $110.22.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings data on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.07). The firm had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.90 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. The business's revenue for the quarter was down 13.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.14 earnings per share. Equities analysts predict that Lennar Corporation will post 5.91 EPS for the current year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, April 22nd. Lennar's payout ratio is currently 28.74%.

Lennar Profile

Lennar Corporation NYSE: LEN is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.

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