Sound Shore Management Inc. CT Has $53.57 Million Stock Position in Lennar Corporation (NYSE:LEN)

Sound Shore Management Inc. CT lifted its holdings in shares of Lennar Corporation (NYSE:LEN - Free Report) by 17.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 466,752 shares of the construction company's stock after acquiring an additional 70,463 shares during the quarter. Sound Shore Management Inc. CT owned about 0.18% of Lennar worth $53,574,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in LEN. Brighton Jones LLC lifted its holdings in Lennar by 27.9% in the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company's stock worth $236,000 after buying an additional 377 shares in the last quarter. EFG Asset Management North America Corp. raised its stake in shares of Lennar by 9.8% in the 4th quarter. EFG Asset Management North America Corp. now owns 15,376 shares of the construction company's stock valued at $2,097,000 after purchasing an additional 1,372 shares in the last quarter. TrueMark Investments LLC acquired a new stake in shares of Lennar in the 4th quarter valued at about $1,331,000. Ausdal Financial Partners Inc. acquired a new stake in shares of Lennar in the 4th quarter valued at about $244,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Lennar by 6.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 375,538 shares of the construction company's stock valued at $51,028,000 after purchasing an additional 22,946 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LEN. Wall Street Zen downgraded shares of Lennar from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Wells Fargo & Company decreased their target price on shares of Lennar from $120.00 to $110.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. UBS Group decreased their target price on shares of Lennar from $164.00 to $146.00 and set a "buy" rating for the company in a research report on Wednesday, June 18th. Zelman & Associates lowered shares of Lennar from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 18th. Finally, Barclays reduced their price target on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $128.85.

Lennar Trading Up 1.6%

Shares of NYSE:LEN traded up $1.85 during mid-day trading on Friday, hitting $115.36. The stock had a trading volume of 2,553,455 shares, compared to its average volume of 3,223,929. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.49 and a current ratio of 3.65. The company has a market cap of $29.88 billion, a PE ratio of 9.54, a P/E/G ratio of 4.82 and a beta of 1.33. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $193.80. The company's 50 day moving average is $109.90 and its 200-day moving average is $115.76.

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 for the quarter, missing the consensus estimate of $1.94 by ($0.04). The company 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 quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.45 EPS. On average, sell-side analysts predict that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders 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 annualized dividend and a yield of 1.73%. Lennar's dividend payout ratio is presently 16.54%.

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.