Lennar Corporation $LEN Shares Sold by Gerber Kawasaki Wealth & Investment Management

Key Points

• Gerber Kawasaki Wealth & Investment Management reduced its holdings in Lennar Corporation by 47.2%, now owning 25,852 shares valued at approximately $2.97 million.
• Several brokerages have downgraded Lennar's price targets and ratings, with JMP Securities reducing their target from $150 to $130 and Barclays lowering theirs from $110 to $95.
• Lennar reported earnings of $1.90 per share, missing consensus estimates, with quarterly revenue of $8.38 billion down 4.4% from the previous year.

Gerber Kawasaki Wealth & Investment Management reduced its position in shares of Lennar Corporation (NYSE:LEN - Free Report) by 47.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,852 shares of the construction company's stock after selling 23,098 shares during the period. Gerber Kawasaki Wealth & Investment Management's holdings in Lennar were worth $2,967,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LEN. Ameriflex Group Inc. purchased a new stake in shares of Lennar during the 4th quarter worth $30,000. Opal Wealth Advisors LLC purchased a new stake in Lennar in the first quarter valued at $30,000. NBC Securities Inc. purchased a new stake in Lennar in the first quarter valued at $33,000. Franchise Capital Ltd purchased a new stake in Lennar in the first quarter valued at $38,000. Finally, Disciplina Capital Management LLC lifted its position in Lennar by 179.8% in the first quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company's stock valued at $38,000 after acquiring an additional 214 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LEN shares. Royal Bank Of Canada reduced their price target on shares of Lennar from $122.00 to $98.00 and set a "sector perform" rating for the company in a research report on Wednesday, June 18th. Wedbush reiterated a "neutral" rating and set a $130.00 price target on shares of Lennar in a research note on Wednesday, June 18th. Keefe, Bruyette & Woods dropped their price target on shares of Lennar from $128.00 to $114.00 and set a "market perform" rating on the stock in a research note on Friday, June 20th. JMP Securities dropped their price target on shares of Lennar from $150.00 to $130.00 and set a "market outperform" rating on the stock in a research note on Friday, June 20th. Finally, Evercore ISI dropped their price target on shares of Lennar from $131.00 to $114.00 and set an "in-line" rating on the stock in a research note on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $128.85.

Lennar Price Performance

LEN traded up $0.15 on Monday, hitting $133.28. 1,846,892 shares of the company were exchanged, compared to its average volume of 3,105,015. The business's fifty day moving average is $118.89 and its 200 day moving average is $114.45. The firm has a market capitalization of $34.52 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 5.65 and a beta of 1.33. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $193.80. 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 (NYSE:LEN - Get Free Report) last released its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.04). The business had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.21 billion. Lennar had a net margin of 9.20% and a return on equity of 12.73%. The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.45 earnings per share. As a group, sell-side analysts anticipate that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

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