LSV Asset Management Sells 25,772 Shares of Lennar Corporation (NYSE:LEN)

Key Points

• LSV Asset Management reduced its holdings in Lennar Corporation by 3.4% in the first quarter, now owning 736,132 shares worth approximately $84.5 million.
• Several analysts downgraded their ratings and price targets for LEN, with Zelman & Associates changing their rating from "strong-buy" to "hold," while Royal Bank of Canada lowered its price target from $122 to $98.
• Lennar announced a quarterly dividend of $0.50 per share, reflecting a 1.7% yield, with a dividend payout ratio of 16.54% as of the latest fiscal quarter.

LSV Asset Management lessened its position in Lennar Corporation (NYSE:LEN - Free Report) by 3.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 736,132 shares of the construction company's stock after selling 25,772 shares during the quarter. LSV Asset Management owned about 0.28% of Lennar worth $84,493,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Hurley Capital LLC acquired a new stake in Lennar in the 4th quarter worth $26,000. Ameriflex Group Inc. bought a new position in shares of Lennar during the 4th quarter worth about $30,000. Opal Wealth Advisors LLC bought a new position in shares of Lennar during the 1st quarter worth about $30,000. NBC Securities Inc. bought a new position in shares of Lennar during the 1st quarter worth about $33,000. Finally, Franchise Capital Ltd bought a new position in shares of Lennar during the 1st quarter worth about $38,000. Institutional investors own 81.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on LEN shares. Zelman & Associates downgraded shares of Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. Royal Bank Of Canada dropped their price objective on shares of Lennar from $122.00 to $98.00 and set a "sector perform" rating on the stock in a report on Wednesday, June 18th. Wedbush reiterated a "neutral" rating and set a $130.00 target price on shares of Lennar in a research report on Wednesday, June 18th. JMP Securities decreased their target price on shares of Lennar from $150.00 to $130.00 and set a "market outperform" rating on the stock in a research report on Friday, June 20th. Finally, Bank of America decreased their target price on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $128.85.

Lennar Price Performance

NYSE:LEN opened at $115.97 on Friday. The firm has a market cap of $30.04 billion, a PE ratio of 9.59, a price-to-earnings-growth ratio of 4.92 and a beta of 1.29. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $193.80. The company has a quick ratio of 0.49, a current ratio of 3.65 and a debt-to-equity ratio of 0.12. The company's 50-day moving average price is $110.63 and its two-hundred day moving average price is $114.98.

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 analysts' consensus estimates of $1.94 by ($0.04). The firm 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%. Lennar's quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.45 earnings per share. On average, equities analysts anticipate that Lennar Corporation will post 12.48 EPS 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 given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Thursday, July 3rd. Lennar's dividend payout ratio is presently 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.

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