Vest Financial LLC Has $20.99 Million Stake in Lennar Corporation $LEN

Key Points

• Vest Financial LLC cut its stake in Lennar by 20.9% in Q4 to 204,222 shares worth about $20.99 million, and institutional investors now own roughly 81.1% of the stock.
• Lennar missed quarterly expectations, reporting EPS of $0.88 vs. a $0.95 consensus and revenue of $6.62 billion vs. $6.90 billion, with revenue down 13.3% year‑over‑year.
• The company declared a quarterly dividend of $0.50 per share (annualized $2.00; 2.2% yield), while analysts' consensus rating is "Reduce" with an average target price of $99.87.

Vest Financial LLC lowered its position in Lennar Corporation (NYSE:LEN - Free Report) by 20.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 204,222 shares of the construction company's stock after selling 54,075 shares during the period. Vest Financial LLC owned 0.08% of Lennar worth $20,994,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LEN. Brighton Jones LLC lifted its stake in shares of Lennar by 27.9% in the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company's stock valued at $236,000 after purchasing an additional 377 shares during the last quarter. Intech Investment Management LLC raised its holdings in Lennar by 29.8% during the first quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company's stock valued at $1,589,000 after buying an additional 3,177 shares in the last quarter. Jump Financial LLC lifted its position in shares of Lennar by 15.0% in the second quarter. Jump Financial LLC now owns 25,622 shares of the construction company's stock worth $2,834,000 after buying an additional 3,345 shares during the last quarter. Cary Street Partners Financial LLC bought a new stake in shares of Lennar during the 2nd quarter worth about $47,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of Lennar by 4.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 34,958 shares of the construction company's stock valued at $3,867,000 after acquiring an additional 1,544 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Down 1.1%

Shares of LEN opened at $92.27 on Wednesday. Lennar Corporation has a 52 week low of $83.03 and a 52 week high of $144.24. The firm has a market capitalization of $22.79 billion, a P/E ratio of 13.26, a P/E/G ratio of 2.05 and a beta of 1.47. The company has a 50-day simple moving average of $96.88 and a 200-day simple moving average of $110.65. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 4.77.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.07). Lennar had a net margin of 5.39% and a return on equity of 7.80%. The firm had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the firm earned $2.14 earnings per share. The company's revenue was down 13.3% on a year-over-year basis. On average, equities research analysts expect that Lennar Corporation will post 5.91 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, April 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. Lennar's payout ratio is currently 28.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LEN shares. Barclays decreased their target price on Lennar from $85.00 to $80.00 and set an "underweight" rating for the company in a research report on Wednesday, April 8th. Weiss Ratings lowered shares of Lennar from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, March 16th. Argus dropped their target price on shares of Lennar from $140.00 to $125.00 and set a "buy" rating on the stock in a report on Wednesday, April 15th. Seaport Research Partners restated a "sell" rating and set a $74.00 price target (down from $140.00) on shares of Lennar in a report on Tuesday, April 7th. Finally, Keefe, Bruyette & Woods dropped their price objective on Lennar from $105.00 to $97.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 1st. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and eight have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $99.87.

About Lennar

Lennar Corporation NYSE: LEN is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.

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