Smead Capital Management Inc. Sells 126,558 Shares of Lennar Corporation $LEN

Smead Capital Management Inc. lowered its stake in shares of Lennar Corporation (NYSE:LEN) by 6.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,822,291 shares of the construction company’s stock after selling 126,558 shares during the quarter. Lennar accounts for 3.9% of Smead Capital Management Inc.’s investment portfolio, making the stock its 9th largest position. Smead Capital Management Inc.’s holdings in Lennar were worth $187,332,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC raised its position in Lennar by 14.6% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock valued at $596,504,000 after purchasing an additional 603,004 shares during the period. Viking Global Investors LP raised its position in Lennar by 86.7% in the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after purchasing an additional 1,172,068 shares during the period. Envestnet Asset Management Inc. raised its position in Lennar by 7.0% in the third quarter. Envestnet Asset Management Inc. now owns 1,154,892 shares of the construction company’s stock valued at $145,563,000 after purchasing an additional 75,574 shares during the period. California Public Employees Retirement System raised its position in Lennar by 41.0% in the third quarter. California Public Employees Retirement System now owns 578,927 shares of the construction company’s stock valued at $72,968,000 after purchasing an additional 168,196 shares during the period. Finally, Caisse de depot et placement du Quebec raised its position in Lennar by 3.7% in the third quarter. Caisse de depot et placement du Quebec now owns 555,305 shares of the construction company’s stock valued at $69,991,000 after purchasing an additional 19,566 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Stock Up 0.0%

Shares of NYSE:LEN opened at $88.86 on Friday. 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 firm has a market capitalization of $21.95 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 1.96 and a beta of 1.41. The firm’s 50-day moving average is $89.67 and its two-hundred day moving average is $106.47. Lennar Corporation has a 1 year low of $81.18 and a 1 year high of $144.24.

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

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders 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 annualized dividend and a yield of 2.3%. Lennar’s dividend payout ratio is 28.74%.

Wall Street Analyst Weigh In

A number of research firms have commented on LEN. Barclays reduced their target price on Lennar from $85.00 to $80.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 8th. Argus reduced their target price on Lennar from $140.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Zacks Research upgraded Lennar from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. Seaport Research Partners reiterated a “sell” rating and issued a $74.00 price objective (down from $140.00) on shares of Lennar in a report on Tuesday, April 7th. Finally, Evercore cut their price objective on Lennar from $89.00 to $82.00 and set an “underperform” rating on the stock in a report on Monday, April 13th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and eight have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $99.87.

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.