National Pension Service Sells 348,302 Shares of Lennar Corporation $LEN

Key Points

• National Pension Service cut its Lennar stake by 95.7% in the second quarter, selling 348,302 shares and retaining 15,484 shares valued at approximately $1.4 million.
• Analyst sentiment is broadly negative: Lennar has a consensus “Reduce” rating, with one Buy, eight Hold, and ten Sell ratings and a consensus price target of $91.80.
• Lennar beat quarterly earnings estimates with EPS of $1.31 versus $1.24 expected, but revenue fell 5.2% year over year to $7.94 billion. The company also maintains a quarterly dividend of $0.50 per share, yielding about 2.5% annually.

National Pension Service trimmed its holdings in shares of Lennar Corporation (NYSE:LEN - Free Report) by 95.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,484 shares of the construction company's stock after selling 348,302 shares during the quarter. National Pension Service's holdings in Lennar were worth $1,401,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Lazard Asset Management LLC lifted its position in Lennar by 7.1% during the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company's stock valued at $141,000 after acquiring an additional 85 shares during the last quarter. Rossby Financial LCC increased its position in shares of Lennar by 9.1% during the fourth quarter. Rossby Financial LCC now owns 1,059 shares of the construction company's stock worth $109,000 after purchasing an additional 88 shares in the last quarter. New Mexico Educational Retirement Board lifted its holdings in shares of Lennar by 1.0% during the 4th quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company's stock valued at $1,086,000 after purchasing an additional 100 shares during the last quarter. KDT Advisors LLC boosted its position in shares of Lennar by 2.7% in the 3rd quarter. KDT Advisors LLC now owns 4,654 shares of the construction company's stock worth $587,000 after purchasing an additional 123 shares in the last quarter. Finally, KCM Investment Advisors LLC grew its stake in Lennar by 1.3% during the 1st quarter. KCM Investment Advisors LLC now owns 9,879 shares of the construction company's stock worth $858,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Lennar in a research report on Friday, June 5th. Barclays cut their price target on shares of Lennar from $80.00 to $79.00 and set an "underweight" rating on the stock in a research note on Monday, June 15th. Zacks Research cut shares of Lennar from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 16th. Royal Bank Of Canada dropped their price objective on shares of Lennar from $88.00 to $85.00 and set an "underperform" rating on the stock in a report on Monday, June 15th. Finally, BTIG Research set a $67.00 target price on Lennar in a research report on Monday, June 15th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and ten have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $91.80.

Lennar Trading Up 0.0%

LEN stock opened at $79.64 on Monday. Lennar Corporation has a 52-week low of $76.63 and a 52-week high of $140.00. The company has a quick ratio of 0.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.19. The firm has a market cap of $19.18 billion, a P/E ratio of 12.46, a PEG ratio of 2.67 and a beta of 1.39. The company's 50-day simple moving average is $84.79 and its 200-day simple moving average is $89.49.

Lennar (NYSE:LEN - Get Free Report) last announced its earnings results on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.24 by $0.07. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The business had revenue of $7.94 billion during the quarter, compared to analysts' expectations of $8.08 billion. During the same quarter in the prior year, the firm earned $1.81 earnings per share. The business's revenue was down 5.2% compared to the same quarter last year. As a group, equities analysts forecast that Lennar Corporation will post 5.46 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, July 10th. Lennar's dividend payout ratio (DPR) is presently 31.30%.

About Lennar

Lennar Corporation is one of the largest homebuilders in the United States. Founded in 1954 and headquartered in Miami, Florida, the company designs, constructs, and sells single-family homes and communities for a range of buyers, including first-time, move-up, and active-adult purchasers.

Lennar operates across many of the country's major housing markets, including communities in the West, Southwest, Southeast, Mid-Atlantic, and other metropolitan areas. Its homebuilding operations offer a variety of floor plans and home designs, while the company also develops residential communities and provides related services such as mortgage financing, title, and closing services through its financial-services businesses.

In addition to traditional homebuilding, Lennar has expanded into multifamily development and other residential real-estate activities.

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