Lennar Co. (NYSE:LEN) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. trimmed its stake in shares of Lennar Co. (NYSE:LENGet Rating) by 5.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,547 shares of the construction company’s stock after selling 962 shares during the quarter. Baird Financial Group Inc.’s holdings in Lennar were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in LEN. Daiwa Securities Group Inc. lifted its position in Lennar by 1.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 16,499 shares of the construction company’s stock worth $1,339,000 after acquiring an additional 279 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Lennar by 66.6% in the 1st quarter. SG Americas Securities LLC now owns 4,722 shares of the construction company’s stock valued at $383,000 after buying an additional 1,888 shares during the period. Atria Investments LLC lifted its holdings in shares of Lennar by 3.8% in the 1st quarter. Atria Investments LLC now owns 34,465 shares of the construction company’s stock valued at $2,797,000 after buying an additional 1,250 shares during the period. DAVENPORT & Co LLC lifted its holdings in shares of Lennar by 2.2% in the 1st quarter. DAVENPORT & Co LLC now owns 26,830 shares of the construction company’s stock valued at $2,178,000 after buying an additional 570 shares during the period. Finally, National Asset Management Inc. lifted its holdings in shares of Lennar by 2.3% in the 1st quarter. National Asset Management Inc. now owns 5,924 shares of the construction company’s stock valued at $482,000 after buying an additional 136 shares during the period. 81.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LEN has been the subject of several recent analyst reports. Wedbush cut Lennar from an “outperform” rating to a “neutral” rating in a report on Friday, August 12th. StockNews.com assumed coverage on Lennar in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Raymond James downgraded Lennar from an “outperform” rating to a “market perform” rating in a research note on Friday, October 21st. KeyCorp raised their price objective on Lennar from $89.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, November 14th. Finally, JMP Securities dropped their price objective on Lennar from $130.00 to $115.00 and set a “market outperform” rating for the company in a research note on Tuesday, October 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $96.21.

Lennar Stock Performance

Lennar stock opened at $84.71 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.62 and a current ratio of 7.73. The stock has a fifty day moving average of $78.44 and a two-hundred day moving average of $78.31. The company has a market capitalization of $24.66 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 4.86 and a beta of 1.44. Lennar Co. has a fifty-two week low of $62.54 and a fifty-two week high of $117.54.

Lennar (NYSE:LENGet Rating) last announced its quarterly earnings data on Wednesday, September 21st. The construction company reported $5.18 EPS for the quarter, beating analysts’ consensus estimates of $4.76 by $0.42. The business had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $9.04 billion. Lennar had a return on equity of 23.12% and a net margin of 14.04%. On average, analysts anticipate that Lennar Co. will post 17.45 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 27th. Stockholders of record on Thursday, October 13th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Wednesday, October 12th. Lennar’s dividend payout ratio is currently 9.92%.

About Lennar

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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

Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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