Lennar Corporation (NYSE:LEN) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC has reduced its stake in Lennar Corporation by 17.4%, selling 3,936 shares, leaving it with 18,697 shares valued at approximately $2.15 million.
• Institutional investors now hold 81.10% of Lennar's stock, with several other hedge funds increasing their stakes during the same quarter.
• The company's recent earnings showed a decline in revenue by 4.4% year-over-year, and it reported an EPS of $1.90, missing expectations by $0.04.

Mizuho Securities USA LLC reduced its stake in Lennar Corporation (NYSE:LEN - Free Report) by 17.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,697 shares of the construction company's stock after selling 3,936 shares during the quarter. Mizuho Securities USA LLC's holdings in Lennar were worth $2,146,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of LEN. Ameriflex Group Inc. purchased a new position in shares of Lennar in the 4th quarter valued at approximately $30,000. Opal Wealth Advisors LLC purchased a new position in shares of Lennar in the 1st quarter valued at approximately $30,000. NBC Securities Inc. purchased a new position in shares of Lennar in the 1st quarter valued at approximately $33,000. Franchise Capital Ltd purchased a new position in shares of Lennar in the 1st quarter valued at approximately $38,000. Finally, Oakworth Capital Inc. grew its stake in shares of Lennar by 139.9% in the 1st quarter. Oakworth Capital Inc. now owns 343 shares of the construction company's stock valued at $39,000 after purchasing an additional 200 shares during the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Wedbush restated a "neutral" rating and issued a $130.00 price target on shares of Lennar in a research note on Wednesday, June 18th. Bank of America decreased their price target on Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 18th. Wall Street Zen downgraded Lennar from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Barclays decreased their price target on Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Finally, Evercore ISI decreased their price target on 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 investment 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's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $128.85.

Lennar Price Performance

LEN stock traded up $6.47 during midday trading on Wednesday, hitting $130.94. 5,588,934 shares of the stock were exchanged, compared to its average volume of 2,673,125. The stock's 50-day moving average price is $113.09 and its 200-day moving average price is $114.29. The stock has a market cap of $33.91 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 5.28 and a beta of 1.29. 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 earnings per share for the quarter, missing analysts' consensus estimates of $1.94 by ($0.04). Lennar had a return on equity of 12.73% and a net margin of 9.20%. The company had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.21 billion. During the same period last year, the firm earned $3.45 earnings per share. The business's revenue was down 4.4% compared to the same quarter last year. Research analysts predict that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, July 3rd. Lennar's payout ratio is 16.54%.

About Lennar

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.