Edgestream Partners L.P. Sells 23,467 Shares of Lennar Corporation (NYSE:LEN)

Edgestream Partners L.P. lessened its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 57.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,277 shares of the construction company's stock after selling 23,467 shares during the period. Edgestream Partners L.P.'s holdings in Lennar were worth $1,983,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Hurley Capital LLC acquired a new position in Lennar in the 4th quarter worth about $26,000. Ameriflex Group Inc. purchased a new position in Lennar during the fourth quarter valued at $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Lennar during the first quarter worth about $30,000. NBC Securities Inc. acquired a new position in shares of Lennar during the 1st quarter worth about $33,000. Finally, Franchise Capital Ltd purchased a new position in Lennar in the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on LEN shares. Wedbush reissued a "neutral" rating and set a $130.00 target price on shares of Lennar in a research note on Wednesday, June 18th. 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. Wells Fargo & Company cut their target price on Lennar from $120.00 to $110.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Royal Bank Of Canada dropped their price target on Lennar from $122.00 to $98.00 and set a "sector perform" rating on the stock in a research note on Wednesday, June 18th. Finally, Bank of America reduced their target price 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. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Lennar currently has a consensus rating of "Hold" and a consensus target price of $128.85.

Lennar Trading Down 0.0%

Shares of Lennar stock traded down $0.05 during trading on Friday, reaching $109.65. 2,221,546 shares of the company were exchanged, compared to its average volume of 2,719,974. The company has a quick ratio of 0.49, a current ratio of 3.65 and a debt-to-equity ratio of 0.12. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $187.61. The firm has a market capitalization of $28.40 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 4.66 and a beta of 1.33. The business has a 50-day moving average price of $109.52 and a 200-day moving average price of $116.45.

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

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were paid a $0.50 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.82%. Lennar's payout ratio is currently 16.54%.

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.