Plato Investment Management Ltd Sells 2,645 Shares of Lennar Corporation $LEN

Key Points

• Plato Investment Management Ltd reduced its holdings in Lennar Corporation by 37.3%, selling 2,645 shares and now owns 4,454 shares worth approximately $517,000.
• Lennar reported earnings per share of $1.90 for the last quarter, missing the consensus estimate by $0.04, and had a revenue of $8.38 billion.
• The company declared a quarterly dividend of $0.50, translating to an annual yield of 1.4% and a payout ratio of 16.54%.

Plato Investment Management Ltd lowered its position in Lennar Corporation (NYSE:LEN - Free Report) by 37.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,454 shares of the construction company's stock after selling 2,645 shares during the period. Plato Investment Management Ltd's holdings in Lennar were worth $517,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LEN. Ameriflex Group Inc. bought a new position in shares of Lennar in the 4th quarter worth $30,000. Opal Wealth Advisors LLC bought a new stake in Lennar during the 1st quarter valued at $30,000. NBC Securities Inc. acquired a new position in Lennar during the first quarter worth $33,000. Franchise Capital Ltd bought a new position in shares of Lennar in the first quarter valued at $38,000. Finally, Disciplina Capital Management LLC increased its position in shares of Lennar by 179.8% during the first quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company's stock worth $38,000 after acquiring an additional 214 shares in the last quarter. Institutional investors own 81.10% of the company's stock.

Lennar Price Performance

Shares of LEN traded down $2.90 during midday trading on Friday, hitting $137.19. 2,852,061 shares of the company traded hands, compared to its average volume of 2,835,821. Lennar Corporation has a one year low of $98.42 and a one year high of $193.80. The firm has a market cap of $35.53 billion, a P/E ratio of 11.35, a PEG ratio of 5.83 and a beta of 1.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. The stock has a 50-day moving average of $124.07 and a 200-day moving average of $115.53.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.04). The firm had revenue of $8.38 billion for the quarter, compared to analysts' expectations of $8.21 billion. Lennar had a net margin of 9.20% and a return on equity of 12.73%. Lennar's revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.45 EPS. As a group, sell-side analysts predict that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Thursday, July 3rd. Lennar's dividend payout ratio is 16.54%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Royal Bank Of Canada cut 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. Bank of America decreased their price objective on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, June 18th. Zelman & Associates lowered Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. Wedbush reissued a "neutral" rating and set a $130.00 price objective on shares of Lennar in a report on Wednesday, June 18th. Finally, Evercore ISI lowered their target price 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 Strong Buy rating, two have given a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $130.77.

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.