Assenagon Asset Management S.A. Sells 223,199 Shares of Lennar Corporation (NYSE:LEN)

Assenagon Asset Management S.A. lessened its holdings in Lennar Corporation (NYSE:LEN) by 98.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,882 shares of the construction company’s stock after selling 223,199 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Lennar were worth $331,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Hurley Capital LLC bought a new position in Lennar during the 4th quarter worth approximately $26,000. SBI Securities Co. Ltd. purchased a new position in Lennar during the 4th quarter worth $28,000. Ameriflex Group Inc. purchased a new position in Lennar during the 4th quarter worth $30,000. NBC Securities Inc. purchased a new position in Lennar during the 1st quarter worth $33,000. Finally, Franchise Capital Ltd purchased a new position in Lennar during the 1st quarter worth $38,000. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

NYSE:LEN opened at $103.37 on Friday. The firm has a market cap of $27.27 billion, a PE ratio of 8.55, a price-to-earnings-growth ratio of 2.82 and a beta of 1.33. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $187.61. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.68 and a current ratio of 3.65. The business has a 50 day moving average price of $107.76 and a 200-day moving average price of $122.08.

Lennar (NYSE:LEN) last released its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.04). The company had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.21 billion. Lennar had a net margin of 9.20% and a return on equity of 12.73%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the company posted $3.45 EPS. Equities research analysts predict that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.93%. Lennar’s dividend payout ratio is presently 16.54%.

Wall Street Analyst Weigh In

LEN has been the topic of a number of research analyst reports. Barclays cut their price target on shares of Lennar from $110.00 to $95.00 and set an “equal weight” rating on the stock in a report on Wednesday. The Goldman Sachs Group cut their price target on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. UBS Group cut their price target on shares of Lennar from $164.00 to $146.00 and set a “buy” rating on the stock in a report on Wednesday. Bank of America cut their price target on shares of Lennar from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Seaport Res Ptn upgraded Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Sixteen investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $141.60.

Lennar Company Profile

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.