Candriam S.C.A. Sells 3,104 Shares of Lennar Corporation $LEN

Key Points

• Candriam S.C.A. reduced its stake in Lennar Corporation by 17.6%, selling 3,104 shares, and now holds 14,545 shares valued at approximately $1.67 million.
• Several large investors made significant transactions in Lennar, including Castlekeep Investment Advisors LLC acquiring a new stake worth about $218.5 million.
• Analysts have downgraded Lennar's stock, with target prices being lowered by multiple firms, suggesting a consensus rating of "Hold" and a target price of $128.85.

Candriam S.C.A. trimmed its holdings in Lennar Corporation (NYSE:LEN - Free Report) by 17.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,545 shares of the construction company's stock after selling 3,104 shares during the period. Candriam S.C.A.'s holdings in Lennar were worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in LEN. Castlekeep Investment Advisors LLC purchased a new stake in shares of Lennar in the fourth quarter valued at about $218,533,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Lennar in the first quarter valued at about $41,788,000. AustralianSuper Pty Ltd purchased a new stake in shares of Lennar in the first quarter valued at about $37,055,000. Berkshire Asset Management LLC PA purchased a new stake in shares of Lennar in the first quarter valued at about $33,394,000. Finally, Man Group plc raised its holdings in shares of Lennar by 112.5% in the fourth 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 during the last quarter. 81.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LEN has been the subject of several analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a report on Friday, June 20th. Bank of America decreased their price objective on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, June 18th. Wall Street Zen downgraded shares of Lennar from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Royal Bank Of Canada cut their target price on shares of Lennar from $122.00 to $98.00 and set a "sector perform" rating for the company in a research report on Wednesday, June 18th. Finally, Evercore ISI cut their target price on shares of Lennar from $131.00 to $114.00 and set an "in-line" rating for the company in a research report on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $128.85.

Lennar Price Performance

LEN stock opened at $135.8360 on Friday. The firm has a 50 day moving average of $116.07 and a 200-day moving average of $114.17. 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 Corporation has a 12 month low of $98.42 and a 12 month high of $193.80. The firm has a market capitalization of $35.18 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 5.76 and a beta of 1.29.

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

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were given a dividend of $0.50 per share. The ex-dividend date was Thursday, July 3rd. This represents a $2.00 annualized dividend and a yield of 1.5%. Lennar's payout ratio 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.

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