Lennar Corporation (NYSE:LEN) Shares Sold by University of Texas Texas AM Investment Management Co.

Key Points

• University of Texas Texas AM Investment Management Co. reduced its stake in Lennar Corporation by 67.6%, owning 3,638 shares after selling 7,605 shares in the first quarter.
• Several institutional investors increased their holdings in Lennar, with Bellwether Advisors LLC boosting its stake by 4,265%, indicating strong interest from large entities.
• Lennar announced a quarterly dividend of $0.50 per share, reflecting an annualized yield of 1.73%, with a payout ratio of 16.54%.

University of Texas Texas AM Investment Management Co. decreased its holdings in Lennar Corporation (NYSE:LEN - Free Report) by 67.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,638 shares of the construction company's stock after selling 7,605 shares during the quarter. University of Texas Texas AM Investment Management Co.'s holdings in Lennar were worth $418,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in LEN. Hurley Capital LLC acquired a new position in Lennar during the fourth quarter worth $26,000. Ameriflex Group Inc. purchased a new position in Lennar in the 4th quarter valued at about $30,000. Opal Wealth Advisors LLC purchased a new position in Lennar in the 1st quarter valued at about $30,000. NBC Securities Inc. purchased a new position in Lennar in the 1st quarter valued at about $33,000. Finally, Itau Unibanco Holding S.A. raised its holdings in shares of Lennar by 611.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 299 shares of the construction company's stock valued at $41,000 after acquiring an additional 257 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Stock Up 0.5%

Shares of LEN stock traded up $0.51 on Thursday, reaching $112.88. 967,447 shares of the stock were exchanged, compared to its average volume of 3,166,632. The business's 50 day moving average price is $110.28 and its 200 day moving average price is $115.40. The company has a market capitalization of $29.24 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 4.92 and a beta of 1.33. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $193.80. 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 (NYSE:LEN - Get Free Report) last announced its quarterly 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). 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 business's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the company earned $3.45 earnings per share. 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 business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Thursday, July 3rd. Lennar's payout ratio is 16.54%.

Analysts Set New Price Targets

LEN has been the subject of a number of recent research reports. Zelman & Associates downgraded Lennar from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 18th. Royal Bank Of Canada cut their price objective 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. Evercore ISI cut their price target on shares of Lennar from $131.00 to $114.00 and set an "in-line" rating for the company in a report on Wednesday, June 18th. Wedbush restated a "neutral" rating and set a $130.00 price target on shares of Lennar in a report on Wednesday, June 18th. Finally, UBS Group cut their price objective on Lennar from $164.00 to $146.00 and set a "buy" rating for the company 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, Lennar has a consensus rating of "Hold" and an average price target 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.