Korea Investment CORP Trims Position in Lennar Corporation $LEN

Korea Investment CORP lowered its position in Lennar Corporation (NYSE:LEN) by 3.7% in the second quarter, HoldingsChannel reports. The firm owned 167,902 shares of the construction company’s stock after selling 6,439 shares during the period. Korea Investment CORP’s holdings in Lennar were worth $18,572,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Lennar during the 2nd quarter worth approximately $424,950,000. The Manufacturers Life Insurance Company increased its position in shares of Lennar by 45.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company’s stock worth $1,020,866,000 after purchasing an additional 2,777,567 shares during the last quarter. Eminence Capital LP raised its holdings in Lennar by 130.8% in the 1st quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company’s stock valued at $181,523,000 after buying an additional 896,264 shares during the period. Brave Warrior Advisors LLC lifted its position in Lennar by 23.4% in the first quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company’s stock valued at $251,323,000 after buying an additional 415,218 shares during the last quarter. Finally, Ceredex Value Advisors LLC acquired a new stake in shares of Lennar during the first quarter valued at about $38,125,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Down 0.0%

Lennar stock opened at $131.25 on Friday. The company has a market capitalization of $33.47 billion, a P/E ratio of 12.97, a PEG ratio of 5.78 and a beta of 1.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $177.15. The stock has a 50-day simple moving average of $123.91 and a 200-day simple moving average of $120.25.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 18th. The construction company reported $2.00 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.14). The firm had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. Lennar’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.90 EPS. Equities research analysts expect 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 Monday, October 27th. Stockholders of record on Friday, October 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, October 10th. Lennar’s dividend payout ratio is presently 19.76%.

Analyst Ratings Changes

Several research analysts have recently commented on LEN shares. Wedbush restated a “neutral” rating and set a $130.00 price target on shares of Lennar in a research report on Monday, September 22nd. Raymond James Financial downgraded shares of Lennar from a “market perform” rating to an “underperform” rating in a research note on Monday, September 22nd. JPMorgan Chase & Co. cut their price objective on Lennar from $97.00 to $92.00 and set a “neutral” rating on the stock in a research report on Monday, September 22nd. Royal Bank Of Canada upped their price target on Lennar from $98.00 to $106.00 and gave the stock a “sector perform” rating in a report on Monday, September 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Lennar in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Lennar has an average rating of “Hold” and a consensus target price of $121.75.

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.