Lennar Co. (NYSE:LEN) Shares Sold by Waratah Capital Advisors Ltd.

Waratah Capital Advisors Ltd. lowered its position in shares of Lennar Co. (NYSE:LENGet Rating) by 70.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,662 shares of the construction company’s stock after selling 182,492 shares during the period. Waratah Capital Advisors Ltd.’s holdings in Lennar were worth $6,304,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Mizuho Securities Co. Ltd. purchased a new stake in shares of Lennar during the fourth quarter valued at approximately $34,000. City State Bank purchased a new stake in shares of Lennar during the fourth quarter valued at approximately $27,000. Riverview Trust Co purchased a new stake in shares of Lennar during the first quarter valued at approximately $28,000. North Star Investment Management Corp. bought a new stake in shares of Lennar in the first quarter worth $49,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of Lennar in the first quarter worth $66,000. Hedge funds and other institutional investors own 82.00% of the company’s stock.

Analyst Ratings Changes

LEN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered shares of Lennar from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $83.00 to $80.00 in a research note on Tuesday, July 12th. Raymond James reduced their price target on shares of Lennar from $125.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, June 22nd. Wells Fargo & Company reduced their price target on shares of Lennar from $85.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, June 17th. KeyCorp reduced their price target on shares of Lennar from $75.00 to $60.00 and set an “underweight” rating for the company in a report on Wednesday, June 22nd. Finally, StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Lennar presently has a consensus rating of “Hold” and a consensus price target of $93.31.

Insider Activity

In other news, VP David M. Collins sold 15,000 shares of the company’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $82.00, for a total value of $1,230,000.00. Following the transaction, the vice president now owns 41,382 shares in the company, valued at approximately $3,393,324. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 9.08% of the stock is owned by corporate insiders.

Lennar Price Performance

Lennar stock traded down $0.67 during midday trading on Friday, hitting $84.73. The company’s stock had a trading volume of 2,315,407 shares, compared to its average volume of 2,767,051. The stock’s 50-day moving average price is $76.87 and its 200-day moving average price is $81.75. The company has a quick ratio of 0.62, a current ratio of 8.06 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $24.69 billion, a PE ratio of 5.80, a price-to-earnings-growth ratio of 4.86 and a beta of 1.51. Lennar Co. has a 12 month low of $62.54 and a 12 month high of $117.54.

Lennar (NYSE:LENGet Rating) last posted its quarterly earnings data on Tuesday, June 21st. The construction company reported $4.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.95 by $0.74. The firm had revenue of $8.36 billion for the quarter, compared to the consensus estimate of $8.13 billion. Lennar had a return on equity of 21.45% and a net margin of 14.77%. During the same quarter in the previous year, the company earned $2.95 EPS. Analysts anticipate that Lennar Co. will post 17.24 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 21st. Stockholders of record on Thursday, July 7th were issued a $0.375 dividend. The ex-dividend date of this dividend was Wednesday, July 6th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.77%. Lennar’s dividend payout ratio is 10.27%.

Lennar Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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