M&T Bank Corp Sells 9,731 Shares of Lennar Corporation (NYSE:LEN)

M&T Bank Corp cut its position in Lennar Corporation (NYSE:LEN - Free Report) by 12.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,243 shares of the construction company's stock after selling 9,731 shares during the quarter. M&T Bank Corp's holdings in Lennar were worth $8,178,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in LEN. Brown Advisory Inc. increased its stake in shares of Lennar by 5.4% in the first quarter. Brown Advisory Inc. now owns 6,965 shares of the construction company's stock worth $799,000 after purchasing an additional 354 shares in the last quarter. Bank Hapoalim BM purchased a new position in shares of Lennar in the first quarter worth about $215,000. Crossmark Global Holdings Inc. increased its stake in shares of Lennar by 3.5% in the first quarter. Crossmark Global Holdings Inc. now owns 49,564 shares of the construction company's stock worth $5,689,000 after purchasing an additional 1,660 shares in the last quarter. Fullcircle Wealth LLC increased its stake in shares of Lennar by 36.9% in the first quarter. Fullcircle Wealth LLC now owns 6,601 shares of the construction company's stock worth $714,000 after purchasing an additional 1,778 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its holdings in shares of Lennar by 14.0% in the first quarter. Concurrent Investment Advisors LLC now owns 5,331 shares of the construction company's stock worth $612,000 after acquiring an additional 653 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods cut their price target on Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a report on Friday, June 20th. UBS Group lowered their price target on shares of Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. 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 lowered their price target 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. Finally, Evercore ISI lowered their price target on shares of Lennar from $131.00 to $114.00 and set an "in-line" rating on the stock in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $128.85.

Lennar Stock Performance

Shares of NYSE LEN opened at $115.76 on Thursday. The stock has a market cap of $30.54 billion, a price-to-earnings ratio of 9.57, a P/E/G ratio of 4.78 and a beta of 1.33. 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 Corporation has a 1-year low of $98.42 and a 1-year high of $187.61. The stock's 50-day moving average is $109.11 and its 200 day moving average is $117.71.

Lennar (NYSE:LEN - Get Free Report) last released its 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). Lennar had a net margin of 9.20% and a return on equity of 12.73%. The business had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. During the same period in the prior year, the business posted $3.45 EPS. Lennar's revenue for the quarter was down 4.4% on a year-over-year basis. On average, sell-side analysts anticipate that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.73%. The ex-dividend date is Thursday, July 3rd. 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.

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