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

Cerity Partners LLC cut its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 2.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 85,668 shares of the construction company's stock after selling 2,387 shares during the period. Cerity Partners LLC's holdings in Lennar were worth $9,833,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Hurley Capital LLC purchased a new stake in shares of Lennar during the 4th quarter valued at $26,000. Ameriflex Group Inc. purchased a new stake in shares of Lennar during the 4th quarter valued at $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Lennar during the 1st quarter valued at $30,000. NBC Securities Inc. purchased a new stake in shares of Lennar during the 1st quarter valued at $33,000. Finally, Itau Unibanco Holding S.A. grew its stake in shares of Lennar by 611.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 299 shares of the construction company's stock valued at $41,000 after buying an additional 257 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Stock Performance

Shares of Lennar stock opened at $113.03 on Tuesday. The firm has a market cap of $29.27 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 4.84 and a beta of 1.33. The firm's 50-day simple moving average is $109.43 and its 200-day simple moving average is $116.93. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.49 and a current ratio of 3.65. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $187.61.

Lennar (NYSE:LEN - Get Free Report) last issued its earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.94 by ($0.04). The company had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.21 billion. Lennar had a net margin of 9.20% and a return on equity of 12.73%. The business's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.45 EPS. Equities analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.77%. Lennar's dividend payout ratio is currently 16.54%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LEN. Wall Street Zen cut shares of Lennar from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. UBS Group decreased their price target on shares of Lennar from $164.00 to $146.00 and set a "buy" rating for the company in a research report on Wednesday, June 18th. Royal Bank Of Canada decreased their price target 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. Bank of America decreased their price target on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Wednesday, June 18th. Finally, Evercore ISI decreased their price target 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 analyst has rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Lennar currently has an average rating of "Hold" and a consensus price target of $128.85.

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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