Quantbot Technologies LP Sells 2,376 Shares of Lennar Corporation $LEN

Quantbot Technologies LP cut its stake in shares of Lennar Corporation (NYSE:LEN) by 9.7% during the 1st quarter, Holdings Channel reports. The fund owned 22,122 shares of the construction company’s stock after selling 2,376 shares during the period. Quantbot Technologies LP’s holdings in Lennar were worth $2,539,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of LEN. Ameriflex Group Inc. bought a new position in Lennar during the fourth quarter worth $30,000. Opal Wealth Advisors LLC bought a new position in Lennar during the first quarter worth $30,000. NBC Securities Inc. bought a new position in Lennar during the first quarter worth $33,000. Franchise Capital Ltd bought a new position in Lennar during the first quarter worth $38,000. Finally, Oakworth Capital Inc. boosted its stake in Lennar by 139.9% during the first quarter. Oakworth Capital Inc. now owns 343 shares of the construction company’s stock worth $39,000 after acquiring an additional 200 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Lennar from $128.00 to $114.00 and set a “market perform” rating on the stock in a report on Friday, June 20th. Zelman & Associates downgraded shares of Lennar from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 18th. Royal Bank Of Canada lowered 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. UBS Group lowered their price objective on shares of Lennar from $164.00 to $146.00 and set a “buy” rating on the stock in a report on Wednesday, June 18th. Finally, Evercore ISI lowered their price objective on shares of Lennar from $131.00 to $114.00 and set an “in-line” rating on the stock in a report on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, Lennar has an average rating of “Hold” and an average target price of $128.85.

Lennar Stock Performance

Shares of LEN stock opened at $130.2190 on Thursday. The firm has a 50-day moving average of $115.19 and a 200-day moving average of $114.19. The company has a market cap of $33.73 billion, a P/E ratio of 10.77, a P/E/G ratio of 5.70 and a beta of 1.29. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. Lennar Corporation has a one year low of $98.42 and a one year high of $193.80.

Lennar (NYSE:LEN) last announced its earnings results 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 during 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%. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.45 EPS. Equities research analysts forecast that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were issued a $0.50 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $2.00 annualized dividend and a dividend yield of 1.5%. Lennar’s dividend payout ratio is currently 16.54%.

About Lennar

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.