Korea Investment CORP Has $20.01 Million Position in Lennar Corporation $LEN

Key Points

• Korea Investment CORP reduced its stake in Lennar Corporation by 18.2%, owning approximately 0.07% of the company, valued at $20.01 million after selling 38,780 shares in the first quarter.
• Lennar recently reported quarterly earnings of $1.90 EPS, missing estimates by $0.04, and had a revenue of $8.38 billion, showing a year-over-year decline of 4.4%.
• The company declared a quarterly dividend of $0.50, yielding 1.5%, with a payout ratio of 16.54% as of the last report.

Korea Investment CORP reduced its stake in Lennar Corporation (NYSE:LEN - Free Report) by 18.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 174,341 shares of the construction company's stock after selling 38,780 shares during the quarter. Korea Investment CORP owned approximately 0.07% of Lennar worth $20,011,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new stake in Lennar in the 4th quarter worth approximately $30,000. Opal Wealth Advisors LLC bought a new position in Lennar in the 1st quarter worth approximately $30,000. NBC Securities Inc. bought a new position in Lennar in the 1st quarter worth approximately $33,000. Franchise Capital Ltd bought a new position in Lennar in the 1st quarter worth approximately $38,000. Finally, Oakworth Capital Inc. increased its position in Lennar by 139.9% in the 1st quarter. Oakworth Capital Inc. now owns 343 shares of the construction company's stock worth $39,000 after buying an additional 200 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Performance

LEN opened at $130.2190 on Thursday. The stock has a market cap of $33.73 billion, a PE ratio of 10.77, a P/E/G ratio of 5.70 and a beta of 1.29. The company has a current ratio of 3.65, a quick ratio of 0.49 and a debt-to-equity ratio of 0.12. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $193.80. The stock's 50 day simple moving average is $115.19 and its 200-day simple moving average is $114.19.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.45 earnings per share. Sell-side analysts forecast that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.00 annualized dividend and a yield of 1.5%. Lennar's payout ratio is currently 16.54%.

Analyst Ratings Changes

Several brokerages have commented on LEN. Keefe, Bruyette & Woods dropped their price target on Lennar from $128.00 to $114.00 and set a "market perform" rating on the stock in a research report on Friday, June 20th. Bank of America dropped 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. Zelman & Associates downgraded Lennar from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 18th. Wedbush reaffirmed a "neutral" rating and issued a $130.00 price target on shares of Lennar in a research report on Wednesday, June 18th. Finally, Wall Street Zen cut Lennar from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price 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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