Gulf International Bank UK Ltd Sells 3,813 Shares of Lennar Corporation (NYSE:LEN)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Lennar Corporation by 21.7% in the first quarter, selling 3,813 shares and now holding 13,766 shares valued at $1,580,000.
• Analysts have adjusted their price targets for Lennar Corporation, with estimates ranging from $98.00 to $130.00, leading to a current consensus rating of "Hold".
• Lennar recently announced a quarterly dividend of $0.50 per share, representing an annual yield of 1.5% and a payout ratio of 16.54%.

Gulf International Bank UK Ltd decreased its holdings in shares of Lennar Corporation (NYSE:LEN - Free Report) by 21.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,766 shares of the construction company's stock after selling 3,813 shares during the quarter. Gulf International Bank UK Ltd's holdings in Lennar were worth $1,580,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. National Pension Service boosted its stake in Lennar by 15.2% during the 1st quarter. National Pension Service now owns 421,120 shares of the construction company's stock valued at $48,336,000 after purchasing an additional 55,572 shares during the period. Resona Asset Management Co. Ltd. boosted its stake in Lennar by 7.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 80,526 shares of the construction company's stock valued at $9,233,000 after purchasing an additional 5,418 shares during the period. AIA Group Ltd boosted its stake in Lennar by 110.1% during the 1st quarter. AIA Group Ltd now owns 13,128 shares of the construction company's stock valued at $1,507,000 after purchasing an additional 6,879 shares during the period. Independent Advisor Alliance boosted its stake in Lennar by 10.8% during the 1st quarter. Independent Advisor Alliance now owns 12,131 shares of the construction company's stock valued at $1,392,000 after purchasing an additional 1,179 shares during the period. Finally, Aigen Investment Management LP bought a new stake in Lennar during the 1st quarter valued at approximately $2,186,000. Institutional investors own 81.10% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Royal Bank Of Canada reduced their price objective on Lennar from $122.00 to $98.00 and set a "sector perform" rating for the company in a research report on Wednesday, June 18th. JMP Securities reduced their price objective on Lennar from $150.00 to $130.00 and set a "market outperform" rating for the company in a research report on Friday, June 20th. Wedbush reiterated a "neutral" rating and issued a $130.00 price objective on shares of Lennar in a research report on Wednesday, June 18th. Keefe, Bruyette & Woods reduced their price objective on Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a research report on Friday, June 20th. Finally, Zelman & Associates downgraded Lennar from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $128.85.

Lennar Trading Down 0.2%

LEN stock opened at $130.65 on Friday. The company has a market cap of $33.84 billion, a P/E ratio of 10.81, a PEG ratio of 5.56 and a beta of 1.29. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $193.80. The company has a quick ratio of 0.49, a current ratio of 3.65 and a debt-to-equity ratio of 0.12. The business has a fifty day moving average of $113.51 and a 200-day moving average of $114.24.

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). The firm had revenue of $8.38 billion for 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%. The company's revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.45 EPS. As a group, equities research analysts expect that Lennar Corporation will post 12.48 EPS for the current 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 issued a dividend of $0.50 per share. The ex-dividend date was Thursday, July 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. Lennar's dividend payout ratio (DPR) is 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.

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