Praxis Investment Management Inc. Sells 5,200 Shares of Lennar Corporation $LEN

Key Points

• Praxis Investment Management Inc. reduced its holdings in Lennar Corporation by 67.7%, selling 5,200 shares during the 2nd quarter, leaving it with a total of 2,480 shares valued at $274,000.
• Lennar recently reported an earnings per share (EPS) of $2.29 for the quarter, surpassing analyst expectations of $2.14, though its revenue of $8.81 billion fell short of estimates.
• The company has declared a quarterly dividend of $0.50 per share, which will be paid on October 27th, resulting in an annualized dividend yield of 1.6%.

Praxis Investment Management Inc. decreased its position in shares of Lennar Corporation (NYSE:LEN - Free Report) by 67.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,480 shares of the construction company's stock after selling 5,200 shares during the period. Praxis Investment Management Inc.'s holdings in Lennar were worth $274,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Lennar by 1.2% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,719 shares of the construction company's stock worth $886,000 after purchasing an additional 89 shares during the period. NorthRock Partners LLC increased its position in shares of Lennar by 1.4% in the first quarter. NorthRock Partners LLC now owns 6,509 shares of the construction company's stock worth $747,000 after purchasing an additional 93 shares during the period. Valeo Financial Advisors LLC increased its position in shares of Lennar by 1.1% in the first quarter. Valeo Financial Advisors LLC now owns 8,841 shares of the construction company's stock worth $1,015,000 after purchasing an additional 95 shares during the period. EP Wealth Advisors LLC increased its position in shares of Lennar by 2.3% in the first quarter. EP Wealth Advisors LLC now owns 4,782 shares of the construction company's stock worth $549,000 after purchasing an additional 107 shares during the period. Finally, Mather Group LLC. increased its position in shares of Lennar by 8.4% in the first quarter. Mather Group LLC. now owns 1,517 shares of the construction company's stock worth $174,000 after purchasing an additional 117 shares during the period. Institutional investors own 81.10% of the company's stock.

Lennar Stock Performance

Shares of LEN stock opened at $125.78 on Friday. The business's 50-day moving average price is $129.60 and its 200-day moving average price is $116.71. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $189.65. The firm has a market capitalization of $32.08 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 5.85 and a beta of 1.37. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 EPS for the quarter, beating analysts' consensus estimates of $2.14 by $0.15. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The firm had revenue of $8.81 billion for the quarter, compared to analyst estimates of $9.01 billion. During the same period last year, the firm posted $3.90 earnings per share. The business's revenue for the quarter was down 6.4% on a year-over-year basis. Equities research analysts forecast that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Friday, October 10th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, October 10th. Lennar's payout ratio is currently 19.76%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wall Street Zen cut Lennar from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. The Goldman Sachs Group lifted their target price on Lennar from $122.00 to $126.00 and gave the company a "neutral" rating in a research report on Tuesday, September 23rd. Zacks Research cut Lennar from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 7th. Wells Fargo & Company decreased their target price on Lennar from $135.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Friday, October 10th. Finally, Raymond James Financial cut Lennar from a "market perform" rating to an "underperform" rating in a research report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Lennar has a consensus rating of "Hold" and a consensus price target of $121.75.

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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