Renaissance Technologies LLC Reduces Holdings in Lennar Corporation $LEN

Renaissance Technologies LLC reduced its position in Lennar Corporation (NYSE:LEN) by 25.7% in the 1st quarter, Holdings Channel reports. The firm owned 377,239 shares of the construction company’s stock after selling 130,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Lennar were worth $32,759,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Magnolia Group LLC purchased a new stake in Lennar during the 4th quarter valued at about $6,756,000. KBC Group NV raised its holdings in Lennar by 34.3% in the 4th quarter. KBC Group NV now owns 62,689 shares of the construction company’s stock valued at $6,445,000 after acquiring an additional 15,998 shares during the last quarter. MUFG Securities EMEA plc lifted its stake in Lennar by 2,522.7% in the 4th quarter. MUFG Securities EMEA plc now owns 114,245 shares of the construction company’s stock worth $11,744,000 after purchasing an additional 109,889 shares in the last quarter. Third View Private Wealth LLC acquired a new position in shares of Lennar during the 4th quarter worth approximately $1,269,000. Finally, Element Capital Management LLC purchased a new stake in shares of Lennar in the fourth quarter valued at approximately $6,437,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Trading Up 3.0%

LEN opened at $87.61 on Wednesday. The stock has a market capitalization of $21.11 billion, a PE ratio of 13.71, a P/E/G ratio of 2.82 and a beta of 1.38. Lennar Corporation has a one year low of $79.82 and a one year high of $144.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91. The business’s 50 day moving average price is $88.12 and its 200 day moving average price is $96.81.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.07. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The company had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $8.08 billion. During the same quarter last year, the firm earned $1.81 earnings per share. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Lennar Corporation will post 5.52 EPS for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.3%. Lennar’s dividend payout ratio is currently 31.30%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods cut their price target on Lennar from $86.00 to $85.00 and set an “underperform” rating for the company in a report on Wednesday, June 17th. Citigroup lowered their price objective on Lennar from $104.00 to $88.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Truist Financial cut their target price on Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a research note on Tuesday, March 31st. The Goldman Sachs Group reiterated a “neutral” rating on shares of Lennar in a report on Friday, June 5th. Finally, Barclays lowered their price target on shares of Lennar from $80.00 to $79.00 and set an “underweight” rating on the stock in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and ten have assigned a Sell rating to the company. According to MarketBeat.com, Lennar has an average rating of “Reduce” and a consensus price target of $92.80.

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.