Lennar Corporation $LEN Stock Position Lowered by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lessened its position in Lennar Corporation (NYSE:LEN) by 81.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,493 shares of the construction company’s stock after selling 54,848 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Lennar were worth $1,382,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FNY Investment Advisers LLC bought a new stake in shares of Lennar in the 2nd quarter worth $33,000. Disciplina Capital Management LLC raised its stake in shares of Lennar by 179.8% in the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock worth $38,000 after buying an additional 214 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Lennar in the 1st quarter worth $44,000. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Lennar in the 2nd quarter worth $43,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Lennar in the 1st quarter worth $66,000. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

Shares of LEN stock opened at $123.84 on Monday. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $180.12. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $31.58 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 5.78 and a beta of 1.37. The stock’s fifty day simple moving average is $128.92 and its 200-day simple moving average is $118.29.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The business had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $9.01 billion. During the same quarter in the previous year, the company posted $3.90 earnings per share. Lennar’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, sell-side analysts predict that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Friday, October 10th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, October 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.6%. Lennar’s payout ratio is currently 19.76%.

Analysts Set New Price Targets

A number of analysts have recently commented on LEN shares. Royal Bank Of Canada boosted their price objective on Lennar from $98.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Monday, September 22nd. Evercore ISI decreased their target price on Lennar from $118.00 to $114.00 and set an “in-line” rating on the stock in a report on Tuesday, October 7th. Zacks Research cut Lennar from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 7th. Wells Fargo & Company decreased their target price on Lennar from $135.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, October 10th. Finally, Bank of America decreased their target price on Lennar from $133.00 to $125.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $121.75.

Lennar 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.