Lennar Corporation $LEN Shares Sold by JT Stratford LLC

Key Points

• JT Stratford LLC has significantly reduced its stake in Lennar Corporation by 85.2%, selling 14,353 shares and now holding 2,490 shares worth approximately $286,000.
• Several hedge funds have also adjusted their positions in Lennar, with new stakes purchased by Ameriflex Group Inc., Opal Wealth Advisors LLC, and others indicating ongoing institutional interest.
• Analysts have lowered price targets for Lennar stock, with targets ranging from $98.00 to $146.00, reflecting mixed sentiment on the company's performance amid recent earnings misses.

JT Stratford LLC decreased its position in shares of Lennar Corporation (NYSE:LEN - Free Report) by 85.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,490 shares of the construction company's stock after selling 14,353 shares during the period. JT Stratford LLC's holdings in Lennar were worth $286,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in Lennar by 3.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company's stock worth $834,115,000 after buying an additional 213,003 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in Lennar during the fourth quarter worth approximately $218,533,000. Eminence Capital LP increased its position in Lennar by 43.4% during the fourth quarter. Eminence Capital LP now owns 685,225 shares of the construction company's stock worth $93,444,000 after buying an additional 207,343 shares during the period. D1 Capital Partners L.P. increased its position in Lennar by 67.3% during the fourth quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company's stock worth $88,116,000 after buying an additional 270,433 shares during the period. Finally, Man Group plc increased its position in Lennar by 112.5% during the fourth quarter. Man Group plc now owns 506,722 shares of the construction company's stock worth $69,102,000 after buying an additional 268,209 shares during the period. Institutional investors and hedge funds own 81.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Bank of America cut their price target on Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 18th. JMP Securities dropped their target price on Lennar from $150.00 to $130.00 and set a "market outperform" rating on the stock in a report on Friday, June 20th. UBS Group dropped their target price on Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. Wedbush reissued a "neutral" rating and issued a $130.00 target price on shares of Lennar in a report on Wednesday, June 18th. Finally, Keefe, Bruyette & Woods dropped their target price on Lennar from $128.00 to $114.00 and set a "market perform" rating on the stock in a report on Friday, June 20th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $128.85.

Lennar Stock Up 5.2%

Shares of LEN stock traded up $6.6960 during trading hours on Friday, reaching $135.8360. The company had a trading volume of 3,924,756 shares, compared to its average volume of 2,995,649. 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 twelve month low of $98.42 and a twelve month high of $193.80. The company has a market capitalization of $35.18 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 5.48 and a beta of 1.29. The stock's fifty day simple moving average is $116.07 and its 200 day simple moving average is $114.26.

Lennar (NYSE:LEN - Get Free Report) last posted 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). Lennar had a net margin of 9.20% and a return on equity of 12.73%. The company had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.21 billion. During the same quarter last year, the business posted $3.45 EPS. Lennar's quarterly revenue was down 4.4% compared to the same quarter last year. As a group, sell-side analysts expect that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Thursday, July 3rd. Lennar's dividend payout ratio (DPR) is 16.54%.

Lennar 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.