Cambridge Investment Research Advisors Inc. Sells 4,151 Shares of Lennar Corporation (NYSE:LEN)

Cambridge Investment Research Advisors Inc. trimmed its holdings in shares of Lennar Corporation (NYSE:LEN - Free Report) by 13.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,485 shares of the construction company's stock after selling 4,151 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Lennar were worth $3,155,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of Lennar by 13.0% during the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,688 shares of the construction company's stock worth $768,000 after acquiring an additional 767 shares in the last quarter. Manning & Napier Advisors LLC increased its holdings in Lennar by 86.6% during the 1st quarter. Manning & Napier Advisors LLC now owns 28,256 shares of the construction company's stock worth $3,243,000 after purchasing an additional 13,116 shares in the last quarter. Heartland Bank & Trust Co raised its stake in shares of Lennar by 19.7% in the 1st quarter. Heartland Bank & Trust Co now owns 2,644 shares of the construction company's stock valued at $303,000 after purchasing an additional 435 shares during the period. First PREMIER Bank bought a new stake in shares of Lennar in the first quarter valued at about $99,000. Finally, Institute for Wealth Management LLC. boosted its position in shares of Lennar by 11.2% during the first quarter. Institute for Wealth Management LLC. now owns 9,636 shares of the construction company's stock worth $1,106,000 after buying an additional 974 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Up 0.5%

LEN opened at $110.34 on Monday. 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 stock's fifty day simple moving average is $108.37 and its 200 day simple moving average is $119.23. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $187.61. The stock has a market cap of $29.11 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 4.43 and a beta of 1.34.

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

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Thursday, July 3rd. Lennar's payout ratio is 16.54%.

Wall Street Analyst Weigh In

LEN has been the topic of several research reports. Bank of America cut their target price on Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 18th. Zelman & Associates lowered shares of Lennar from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 18th. Wedbush reiterated a "neutral" rating and issued a $130.00 price target on shares of Lennar in a research note on Wednesday, June 18th. Wall Street Zen cut shares of Lennar from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Finally, Seaport Res Ptn upgraded Lennar from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lennar currently has a consensus rating of "Hold" and a consensus target price 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.

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