Cim LLC Sells 5,912 Shares of Lennar Corporation $LEN

Key Points

• Cim LLC reduced its position in Lennar Corporation by 19.9%, selling 5,912 shares during the first quarter, leaving it with 23,790 shares worth $2.73 million.
• Lennar recently reported earnings of $1.90 per share, falling short of the consensus estimate of $1.94, with a 4.4% decrease in revenue compared to the same quarter last year.
• The stock has received mixed reviews from analysts, with a consensus target price of $130.77 and a current average rating of “Hold.”

Cim LLC cut its holdings in Lennar Corporation (NYSE:LEN - Free Report) by 19.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,790 shares of the construction company's stock after selling 5,912 shares during the period. Cim LLC's holdings in Lennar were worth $2,731,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ameriflex Group Inc. purchased a new stake in Lennar in the 4th quarter worth approximately $30,000. Opal Wealth Advisors LLC purchased a new stake in Lennar in the 1st quarter worth approximately $30,000. NBC Securities Inc. purchased a new stake in Lennar in the 1st quarter worth approximately $33,000. Franchise Capital Ltd purchased a new stake in Lennar in the 1st quarter worth approximately $38,000. Finally, Disciplina Capital Management LLC lifted its stake in Lennar by 179.8% in the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company's stock worth $38,000 after purchasing an additional 214 shares in the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays lowered their target price on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. JMP Securities lowered their price objective on shares of Lennar from $150.00 to $130.00 and set a "market outperform" rating on the stock in a research report on Friday, June 20th. Royal Bank Of Canada lowered their price objective 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. Bank of America lowered their price objective on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 18th. Finally, Zacks Research upgraded shares of Lennar from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, Lennar has a consensus rating of "Hold" and an average target price of $130.77.

Lennar Trading Up 0.2%

Lennar stock traded up $0.26 during trading hours on Tuesday, reaching $134.03. The stock had a trading volume of 3,240,101 shares, compared to its average volume of 3,166,475. The stock has a market cap of $34.71 billion, a PE ratio of 11.09, a PEG ratio of 5.83 and a beta of 1.33. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $193.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. The company has a fifty day simple moving average of $124.56 and a 200-day simple moving average of $115.63.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly 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 firm had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.21 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%.Lennar's revenue was down 4.4% on a year-over-year basis. During the same period last year, the business earned $3.45 EPS. Analysts forecast that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, July 3rd. Lennar's dividend payout ratio (DPR) is 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.