Intech Investment Management LLC Has $644,000 Stake in Lennar Corporation $LEN

Intech Investment Management LLC decreased its holdings in shares of Lennar Corporation (NYSE:LEN) by 54.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,268 shares of the construction company’s stock after selling 7,557 shares during the quarter. Intech Investment Management LLC’s holdings in Lennar were worth $644,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cibc World Market Inc. grew its holdings in shares of Lennar by 993.0% during the third quarter. Cibc World Market Inc. now owns 129,487 shares of the construction company’s stock worth $16,321,000 after purchasing an additional 117,640 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Lennar by 5.9% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 466,027 shares of the construction company’s stock worth $58,738,000 after purchasing an additional 26,117 shares during the last quarter. Boothbay Fund Management LLC grew its holdings in shares of Lennar by 201.1% during the third quarter. Boothbay Fund Management LLC now owns 24,004 shares of the construction company’s stock worth $3,025,000 after purchasing an additional 16,031 shares during the last quarter. Tounjian Advisory Partners LLC bought a new stake in shares of Lennar during the fourth quarter worth about $2,599,000. Finally, Coronation Fund Managers Ltd. bought a new stake in shares of Lennar during the third quarter worth about $14,160,000. 81.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LEN shares. Citigroup reduced their price target on Lennar from $113.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, March 17th. Wells Fargo & Company reduced their price target on Lennar from $100.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Weiss Ratings cut Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 16th. The Goldman Sachs Group restated a “neutral” rating on shares of Lennar in a report on Friday. Finally, Zacks Research upgraded Lennar from a “strong sell” rating to a “hold” rating in a report on Thursday, March 19th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and nine have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $98.00.

Key Stories Impacting Lennar

Here are the key news stories impacting Lennar this week:

• Positive Sentiment: Lennar sold Raleigh townhomes to an investor, reinforcing demand for rental housing and showing the company can monetize completed projects even in a tougher housing market. Lennar sells Raleigh townhomes to California investor as rental demand surges
• Positive Sentiment: Ongoing planning progress for the Cortlandt townhomes suggests Lennar continues to advance its land and community-development pipeline, which supports future growth. VS and Lennar move forward with planning for Cortlandt townhomes
• Neutral Sentiment: Several recent articles focus on Lennar’s valuation, margin pressure, and upcoming earnings expectations, keeping attention on whether the stock is fairly priced ahead of the next results. Evaluating Lennar (LEN) As Shares Trade Near Analyst Fair Value Estimates
• Neutral Sentiment: Industry commentary continues to point to the housing “lock-in effect,” which could help homebuilders like Lennar if lower rates improve affordability and unlock more demand. The Lock-In Effect Is Real—These 3 Homebuilders Are Betting on It (LEN)
• Negative Sentiment: Keefe, Bruyette & Woods downgraded Lennar from “market perform” to “underperform” and cut its price target to $86 from $97, signaling concern about limited upside and possible margin pressure. KBW downgrades Lennar

Lennar Price Performance

Lennar stock opened at $92.63 on Wednesday. The stock has a market capitalization of $22.88 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 2.00 and a beta of 1.39. Lennar Corporation has a 52-week low of $81.18 and a 52-week high of $144.24. The stock’s 50 day moving average price is $89.02 and its two-hundred day moving average price is $103.84. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 4.77.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). The business had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.Lennar’s quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.14 earnings per share. On average, equities analysts predict that Lennar Corporation will post 5.87 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, April 22nd. Lennar’s dividend payout ratio is presently 28.74%.

Lennar Company 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.