Lennar Corporation $LEN Stock Position Lowered by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd trimmed its position in shares of Lennar Corporation (NYSE:LEN) by 98.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 257 shares of the construction company’s stock after selling 14,508 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Lennar were worth $32,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Guerra Advisors Inc acquired a new position in Lennar during the third quarter valued at $25,000. Redmont Wealth Advisors LLC purchased a new position in Lennar during the 3rd quarter valued at about $26,000. Rexford Capital Inc. acquired a new position in shares of Lennar in the 2nd quarter valued at about $36,000. Washington Trust Advisors Inc. boosted its holdings in shares of Lennar by 102.7% during the third quarter. Washington Trust Advisors Inc. now owns 371 shares of the construction company’s stock worth $47,000 after purchasing an additional 188 shares during the period. Finally, Cary Street Partners Financial LLC purchased a new position in Lennar during the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LEN shares. Evercore downgraded shares of Lennar from an “in-line” rating to an “underperform” rating and cut their target price for the stock from $114.00 to $92.00 in a research report on Thursday, December 18th. Keefe, Bruyette & Woods cut their price objective on Lennar from $125.00 to $115.00 and set a “market perform” rating for the company in a report on Thursday, December 18th. Weiss Ratings restated a “hold (c)” rating on shares of Lennar in a research note on Thursday, January 22nd. BTIG Research set a $90.00 target price on Lennar in a research report on Thursday, December 18th. Finally, Wall Street Zen lowered Lennar from a “hold” rating to a “sell” rating in a report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and eight have assigned a Sell rating to the stock. According to MarketBeat, Lennar currently has a consensus rating of “Reduce” and an average target price of $106.38.

Lennar Stock Down 1.9%

Shares of LEN stock opened at $108.47 on Wednesday. The stock’s 50 day simple moving average is $113.27 and its 200 day simple moving average is $121.41. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $144.24. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.36 and a current ratio of 4.89. The company has a market capitalization of $26.79 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 1.61 and a beta of 1.43.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.27). Lennar had a net margin of 6.08% and a return on equity of 9.27%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same quarter last year, the business earned $4.03 EPS. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, research analysts predict that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Wednesday, February 4th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $2.00 dividend on an annualized basis and a yield of 1.8%. Lennar’s payout ratio is currently 25.03%.

Lennar Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.