Lennar Corporation $LEN Shares Sold by CX Institutional

CX Institutional lowered its position in Lennar Corporation (NYSE:LEN) by 74.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,346 shares of the construction company’s stock after selling 9,568 shares during the quarter. CX Institutional’s holdings in Lennar were worth $370,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in LEN. Brighton Jones LLC increased its stake in shares of Lennar by 27.9% in the fourth 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 period. Ameriflex Group Inc. acquired a new stake in shares of Lennar in the fourth quarter valued at approximately $30,000. Jefferies Financial Group Inc. acquired a new stake in shares of Lennar in the fourth quarter valued at approximately $612,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Lennar in the fourth quarter valued at approximately $17,586,000. Finally, Centaurus Financial Inc. boosted its holdings in shares of Lennar by 7.2% in the fourth quarter. Centaurus Financial Inc. now owns 3,149 shares of the construction company’s stock valued at $429,000 after acquiring an additional 212 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Trading Up 1.7%

Shares of NYSE:LEN opened at $126.08 on Friday. The stock has a market capitalization of $32.66 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 5.55 and a beta of 1.33. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $189.65. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49. The company has a 50 day moving average price of $127.39 and a 200 day moving average price of $116.04.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The firm had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $9.01 billion. During the same period last year, the firm posted $3.90 earnings per share. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, research analysts anticipate that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The company 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 yield of 1.6%. Lennar’s dividend payout ratio is 19.76%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LEN. Wells Fargo & Company increased their price objective on shares of Lennar from $110.00 to $135.00 and gave the company an “equal weight” rating in a report on Tuesday, September 2nd. JMP Securities increased their price objective on shares of Lennar from $130.00 to $140.00 and gave the company a “market outperform” rating in a report on Monday. Royal Bank Of Canada increased their price objective on shares of Lennar from $98.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, September 22nd. The Goldman Sachs Group increased their price objective on shares of Lennar from $122.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Barclays decreased their price objective on shares of Lennar from $110.00 to $95.00 and set an “equal weight” rating for the company in a report on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $123.75.

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.