Boston Partners Lowers Stock Position in Lennar Corporation (NYSE:LEN)

Key Points

• Boston Partners significantly reduced its holding in Lennar Corporation, decreasing its stake by 57.7% to approximately $123.85 million after selling over 1.4 million shares.
• Lennar reported $1.90 earnings per share in its latest quarterly results, falling short of analysts' expectations, despite revenue growth to $8.38 billion.
• The company recently announced a quarterly dividend of $0.50 per share, representing an annualized yield of 1.5% and a payout ratio of 16.54%.

Boston Partners lessened its position in Lennar Corporation (NYSE:LEN - Free Report) by 57.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,079,886 shares of the construction company's stock after selling 1,471,138 shares during the period. Boston Partners owned approximately 0.41% of Lennar worth $123,853,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new stake in Lennar in the fourth quarter valued at $30,000. Opal Wealth Advisors LLC acquired a new stake in Lennar in the first quarter valued at $30,000. NBC Securities Inc. acquired a new stake in Lennar in the first quarter valued at $33,000. Franchise Capital Ltd acquired a new stake in Lennar in the first quarter valued at $38,000. Finally, Oakworth Capital Inc. lifted its stake in shares of Lennar by 139.9% during the 1st quarter. Oakworth Capital Inc. now owns 343 shares of the construction company's stock worth $39,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on LEN. Wedbush reaffirmed a "neutral" rating and set a $130.00 price target on shares of Lennar in a research report on Wednesday, June 18th. Royal Bank Of Canada lowered their price target 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. Keefe, Bruyette & Woods lowered their price target on shares of Lennar from $128.00 to $114.00 and set a "market perform" rating on the stock in a research report on Friday, June 20th. Barclays decreased their target price on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. Finally, JMP Securities reduced their target price on shares of Lennar from $150.00 to $130.00 and set a "market outperform" rating on the stock in a report on Friday, June 20th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lennar presently has an average rating of "Hold" and an average price target of $128.85.

Lennar Price Performance

Shares of LEN stock traded up $1.58 during trading hours on Friday, hitting $132.03. 5,172,248 shares of the company's stock were exchanged, compared to its average volume of 2,904,637. The company has a market capitalization of $34.20 billion, a PE ratio of 10.92, a PEG ratio of 5.60 and a beta of 1.29. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $193.80. The business's 50 day simple moving average is $113.98 and its 200-day simple moving average is $113.94. The company has a current ratio of 3.65, a quick ratio of 0.49 and a debt-to-equity ratio of 0.12.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly 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). Lennar had a return on equity of 12.73% and a net margin of 9.20%. The business had revenue of $8.38 billion for the quarter, compared to analysts' expectations of $8.21 billion. During the same period last year, the business posted $3.45 earnings per share. The company's revenue was down 4.4% compared to the same quarter last year. On average, equities research analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. 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.