Intech Investment Management LLC Has $644,000 Stake in Lennar Corporation $LEN

Intech Investment Management LLC trimmed its position in shares of Lennar Corporation (NYSE:LEN) by 54.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,268 shares of the construction company’s stock after selling 7,557 shares during the quarter. Intech Investment Management LLC’s holdings in Lennar were worth $644,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cibc World Market Inc. raised its position in shares of Lennar by 993.0% during the third quarter. Cibc World Market Inc. now owns 129,487 shares of the construction company’s stock worth $16,321,000 after purchasing an additional 117,640 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Lennar by 5.9% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 466,027 shares of the construction company’s stock worth $58,738,000 after purchasing an additional 26,117 shares during the period. Boothbay Fund Management LLC raised its position in shares of Lennar by 201.1% during the third quarter. Boothbay Fund Management LLC now owns 24,004 shares of the construction company’s stock worth $3,025,000 after purchasing an additional 16,031 shares during the period. Tounjian Advisory Partners LLC acquired a new position in shares of Lennar during the fourth quarter worth approximately $2,599,000. Finally, Coronation Fund Managers Ltd. acquired a new position in shares of Lennar during the third quarter worth approximately $14,160,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Stock Up 2.1%

Shares of NYSE:LEN opened at $92.63 on Wednesday. The company has a market capitalization of $22.88 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 2.00 and a beta of 1.39. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97. The business has a fifty day moving average price of $89.02 and a two-hundred day moving average price of $103.84. Lennar Corporation has a 1 year low of $81.18 and a 1 year high of $144.24.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, March 12th. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). The business had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.90 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.14 EPS. Analysts forecast that Lennar Corporation will post 5.87 earnings per share for the current year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, April 22nd. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. Lennar’s dividend payout ratio is presently 28.74%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on LEN shares. Keefe, Bruyette & Woods lowered Lennar from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $97.00 to $86.00 in a research report on Tuesday. Truist Financial lowered their target price on Lennar from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Tuesday, March 31st. Zacks Research raised Lennar from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. Evercore lowered their price target on Lennar from $89.00 to $82.00 and set an “underperform” rating for the company in a research report on Monday, April 13th. Finally, Citigroup lowered their price target on Lennar from $113.00 to $104.00 and set a “neutral” rating for the company in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $98.00.

Lennar News Roundup

Here are the key news stories impacting Lennar this week:

• Positive Sentiment: Lennar sold Raleigh townhomes to an investor, reinforcing demand for rental housing and showing the company can monetize completed projects even in a tougher housing market. Lennar sells Raleigh townhomes to California investor as rental demand surges
• Positive Sentiment: Ongoing planning progress for the Cortlandt townhomes suggests Lennar continues to advance its land and community-development pipeline, which supports future growth. VS and Lennar move forward with planning for Cortlandt townhomes
• Neutral Sentiment: Several recent articles focus on Lennar’s valuation, margin pressure, and upcoming earnings expectations, keeping attention on whether the stock is fairly priced ahead of the next results. Evaluating Lennar (LEN) As Shares Trade Near Analyst Fair Value Estimates
• Neutral Sentiment: Industry commentary continues to point to the housing “lock-in effect,” which could help homebuilders like Lennar if lower rates improve affordability and unlock more demand. The Lock-In Effect Is Real—These 3 Homebuilders Are Betting on It (LEN)
• Negative Sentiment: Keefe, Bruyette & Woods downgraded Lennar from “market perform” to “underperform” and cut its price target to $86 from $97, signaling concern about limited upside and possible margin pressure. KBW downgrades Lennar

Lennar Profile

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.