Todd Asset Management LLC Cuts Position in Lennar Corporation $LEN

Todd Asset Management LLC decreased its holdings in Lennar Corporation (NYSE:LEN) by 8.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 192,542 shares of the construction company’s stock after selling 16,682 shares during the quarter. Todd Asset Management LLC owned about 0.08% of Lennar worth $19,793,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Guerra Advisors Inc purchased a new stake in Lennar during the 3rd quarter worth about $25,000. Redmont Wealth Advisors LLC purchased a new stake in Lennar during the 3rd quarter worth about $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Lennar during the 3rd quarter worth about $25,000. High Point Wealth Management LLC purchased a new stake in Lennar during the 4th quarter worth about $31,000. Finally, Washington Trust Advisors Inc. increased its position in Lennar by 102.7% during the 3rd quarter. Washington Trust Advisors Inc. now owns 371 shares of the construction company’s stock worth $47,000 after purchasing an additional 188 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

LEN has been the subject of a number of recent research reports. Zacks Research upgraded Lennar from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. Truist Financial lowered their price target on Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a report on Tuesday, March 31st. Wells Fargo & Company lowered their price target on Lennar from $100.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Evercore reduced their target price on shares of Lennar from $89.00 to $82.00 and set an “underperform” rating on the stock in a report on Monday, April 13th. Finally, Citigroup reduced their price objective on Lennar from $113.00 to $104.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat, Lennar currently has a consensus rating of “Reduce” and an average price target of $99.87.

Lennar Price Performance

Lennar stock opened at $88.86 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18. The firm’s 50-day simple moving average is $89.60 and its 200 day simple moving average is $106.14. Lennar Corporation has a 52 week low of $81.18 and a 52 week high of $144.24. The firm has a market capitalization of $21.95 billion, a PE ratio of 12.77, a P/E/G ratio of 1.96 and a beta of 1.41.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 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 business had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the prior year, the company earned $2.14 earnings per share. The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. On average, equities research analysts predict that Lennar Corporation will post 5.87 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, April 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.3%. Lennar’s payout ratio is 28.74%.

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.