Swiss Life Asset Management Ltd Sells 19,876 Shares of Lennar Corporation $LEN

Swiss Life Asset Management Ltd decreased its holdings in Lennar Corporation (NYSE:LEN) by 53.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,143 shares of the construction company’s stock after selling 19,876 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Lennar were worth $1,762,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Lazard Asset Management LLC grew its stake in shares of Lennar by 7.1% in the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock worth $141,000 after purchasing an additional 85 shares during the last quarter. Zions Bancorporation National Association UT lifted its stake in shares of Lennar by 8.3% in the third quarter. Zions Bancorporation National Association UT now owns 1,127 shares of the construction company’s stock worth $142,000 after acquiring an additional 86 shares during the period. RFG Advisory LLC lifted its stake in shares of Lennar by 2.1% in the third quarter. RFG Advisory LLC now owns 4,255 shares of the construction company’s stock worth $536,000 after acquiring an additional 87 shares during the period. UMB Bank n.a. lifted its stake in shares of Lennar by 6.2% in the third quarter. UMB Bank n.a. now owns 1,595 shares of the construction company’s stock worth $201,000 after acquiring an additional 93 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its stake in shares of Lennar by 1.1% in the third quarter. TD Waterhouse Canada Inc. now owns 10,837 shares of the construction company’s stock worth $1,389,000 after acquiring an additional 114 shares during the period. Institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on LEN shares. The Goldman Sachs Group cut their price objective on Lennar from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. Truist Financial lowered their target price on shares of Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Tuesday, March 31st. Barclays lowered their target price on shares of Lennar from $85.00 to $80.00 and set an “underweight” rating for the company in a research note on Wednesday, April 8th. Argus lowered their target price on shares of Lennar from $140.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Lennar from $105.00 to $97.00 and set a “market perform” rating for the company in a research note on Wednesday, April 1st. 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 company. According to data from MarketBeat.com, Lennar has a consensus rating of “Reduce” and a consensus price target of $99.87.

Lennar Stock Down 3.5%

Shares of NYSE LEN opened at $82.28 on Friday. The firm has a market cap of $20.32 billion, a PE ratio of 11.82, a P/E/G ratio of 1.88 and a beta of 1.41. Lennar Corporation has a 12-month low of $82.06 and a 12-month high of $144.24. The company’s fifty day simple moving average is $91.05 and its 200 day simple moving average is $107.85. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18.

Lennar (NYSE:LEN) last issued its 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). The company had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.The firm’s revenue was down 13.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.14 earnings per share. As a group, sell-side analysts forecast that Lennar Corporation will post 5.87 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, April 22nd. Lennar’s dividend payout ratio is 28.74%.

Lennar Company 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.