Voya Investment Management LLC Decreases Stake in Lennar Corporation $LEN

Voya Investment Management LLC reduced its stake in shares of Lennar Corporation (NYSE:LEN) by 1.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,877 shares of the construction company’s stock after selling 1,096 shares during the period. Voya Investment Management LLC’s holdings in Lennar were worth $7,906,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of LEN. Brighton Jones LLC raised its position in Lennar by 27.9% during the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after buying an additional 377 shares during the last quarter. Two Sigma Advisers LP increased its stake in shares of Lennar by 1,163.6% in the fourth quarter. Two Sigma Advisers LP now owns 122,820 shares of the construction company’s stock worth $16,749,000 after acquiring an additional 113,100 shares during the period. Vident Advisory LLC raised its holdings in shares of Lennar by 90.7% during the fourth quarter. Vident Advisory LLC now owns 18,107 shares of the construction company’s stock worth $2,469,000 after purchasing an additional 8,611 shares during the last quarter. Woodline Partners LP acquired a new position in Lennar during the fourth quarter valued at $1,956,000. Finally, Waverly Advisors LLC purchased a new stake in Lennar in the fourth quarter valued at $329,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Trading Down 0.7%

Shares of LEN stock opened at $132.92 on Thursday. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $193.80. The company has a market cap of $34.43 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 5.68 and a beta of 1.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. The stock has a 50 day simple moving average of $125.38 and a 200-day simple moving average of $115.87.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.04). The company had revenue of $8.38 billion during the quarter, compared to analysts’ expectations of $8.21 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%.Lennar’s revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.45 EPS. On average, equities research analysts expect that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LEN. Barclays reduced their price objective on Lennar from $110.00 to $95.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 18th. Royal Bank Of Canada reduced their price target on Lennar from $122.00 to $98.00 and set a “sector perform” rating for the company in a research report on Wednesday, June 18th. Bank of America decreased their price target on Lennar from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, June 18th. Evercore ISI dropped their price objective on shares of Lennar from $131.00 to $114.00 and set an “in-line” rating on the stock in a research note on Wednesday, June 18th. Finally, Zacks Research upgraded shares of Lennar from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $130.77.

About Lennar

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.