ANTIPODES PARTNERS Ltd Cuts Stake in Lennar Corporation $LEN

ANTIPODES PARTNERS Ltd cut its holdings in Lennar Corporation (NYSE:LEN) by 9.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 306,722 shares of the construction company’s stock after selling 33,279 shares during the quarter. ANTIPODES PARTNERS Ltd owned approximately 0.12% of Lennar worth $38,662,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Viking Global Investors LP boosted its stake in shares of Lennar by 86.7% during the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after purchasing an additional 1,172,068 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Lennar by 7.0% during the third quarter. Envestnet Asset Management Inc. now owns 1,154,892 shares of the construction company’s stock worth $145,563,000 after buying an additional 75,574 shares during the period. Swiss National Bank boosted its position in Lennar by 4.3% during the 2nd quarter. Swiss National Bank now owns 702,872 shares of the construction company’s stock valued at $77,745,000 after acquiring an additional 29,300 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Lennar by 16.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 454,585 shares of the construction company’s stock valued at $50,282,000 after acquiring an additional 65,485 shares during the period. Finally, Basswood Capital Management L.L.C. raised its position in shares of Lennar by 10.6% in the 2nd quarter. Basswood Capital Management L.L.C. now owns 448,984 shares of the construction company’s stock worth $49,662,000 after acquiring an additional 43,051 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Trading Up 0.2%

NYSE:LEN opened at $116.32 on Friday. The company has a market capitalization of $28.73 billion, a P/E ratio of 14.56, a PEG ratio of 1.69 and a beta of 1.44. The company has a current ratio of 4.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $144.24. The firm has a fifty day simple moving average of $113.05 and a 200-day simple moving average of $122.02.

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

Lennar Announces Dividend

The firm also recently declared 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 1.7%. Lennar’s dividend payout ratio (DPR) is currently 25.03%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LEN. Argus upgraded Lennar to a “strong-buy” rating in a research note on Friday, January 16th. BTIG Research set a $90.00 price objective on shares of Lennar in a research report on Thursday, December 18th. The Goldman Sachs Group reissued a “neutral” rating and set a $125.00 target price on shares of Lennar in a research report on Tuesday, January 13th. Royal Bank Of Canada set a $88.00 price target on shares of Lennar in a report on Friday, January 9th. Finally, Citigroup decreased their price objective on Lennar from $133.00 to $113.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $106.38.

About Lennar

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.