Macquarie Group Ltd. Sells 2,863 Shares of Lennar Co. (NYSE:LEN)

Macquarie Group Ltd. trimmed its holdings in Lennar Co. (NYSE:LEN – Get Rating) by 10.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 23,356 shares of the construction company’s stock after selling 2,863 shares during the quarter. Macquarie Group Ltd.’s holdings in Lennar were worth $1,742,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LEN. Tyler Stone Wealth Management lifted its holdings in shares of Lennar by 92.9% in the 2nd quarter. Tyler Stone Wealth Management now owns 407 shares of the construction company’s stock worth $29,000 after acquiring an additional 196 shares during the last quarter. Karp Capital Management Corp bought a new stake in Lennar during the 3rd quarter valued at $30,000. Annapolis Financial Services LLC raised its holdings in Lennar by 44.5% during the 3rd quarter. Annapolis Financial Services LLC now owns 552 shares of the construction company’s stock valued at $41,000 after buying an additional 170 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in Lennar during the 3rd quarter valued at $45,000. Finally, Picton Mahoney Asset Management purchased a new position in Lennar during the 3rd quarter valued at $60,000. 82.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LEN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Lennar from $73.00 to $97.00 and gave the company a “neutral” rating in a research report on Tuesday, November 22nd. Citigroup upped their target price on shares of Lennar from $103.00 to $113.00 and gave the stock a “buy” rating in a research report on Monday, December 19th. KeyCorp upped their target price on shares of Lennar from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, December 16th. StockNews.com raised shares of Lennar from a “hold” rating to a “buy” rating in a research report on Friday, February 3rd. Finally, Bank of America raised shares of Lennar from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $92.00 to $102.00 in a research report on Wednesday, January 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine 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 $102.53.

Lennar Price Performance

Shares of NYSE:LEN opened at $97.38 on Friday. The firm’s 50 day moving average price is $98.69 and its 200-day moving average price is $87.73. Lennar Co. has a twelve month low of $62.54 and a twelve month high of $109.28. The company has a quick ratio of 1.48, a current ratio of 7.46 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $28.21 billion, a PE ratio of 6.18, a price-to-earnings-growth ratio of 1.82 and a beta of 1.42.

Lennar (NYSE:LEN – Get Rating) last issued its quarterly earnings data on Wednesday, December 14th. The construction company reported $5.02 earnings per share for the quarter, topping the consensus estimate of $4.92 by $0.10. The firm had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $10.24 billion. Lennar had a net margin of 13.70% and a return on equity of 22.87%. Equities research analysts expect that Lennar Co. will post 9.09 EPS for the current year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 10th. Investors of record on Friday, January 27th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Thursday, January 26th. Lennar’s dividend payout ratio is 9.52%.

Lennar Profile

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Lennar Corp. engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Central, Texas, and West, Financial Services, Multifamily, and Lennar Other. The Homebuilding East, Central, Texas, and West segment constructs and sells homes primarily for first-time, move-up, and active adult homebuyers primarily under the Lennar brand name.