Hsbc Holdings PLC Trims Holdings in Lennar Corporation $LEN

Hsbc Holdings PLC decreased its position in shares of Lennar Corporation (NYSE:LEN) by 14.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 468,006 shares of the construction company’s stock after selling 77,016 shares during the period. Hsbc Holdings PLC’s holdings in Lennar were worth $48,173,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Lennar during the 3rd quarter valued at $25,000. High Point Wealth Management LLC purchased a new stake in shares of Lennar during the fourth quarter worth about $31,000. DV Equities LLC purchased a new stake in shares of Lennar during the fourth quarter worth about $31,000. Quarry LP bought a new stake in Lennar during the 4th quarter valued at approximately $41,000. Finally, IFC & Insurance Marketing Inc. purchased a new position in Lennar in the 4th quarter worth approximately $45,000. 81.10% of the stock is currently owned by institutional investors.

Lennar Stock Performance

LEN stock opened at $87.49 on Wednesday. Lennar Corporation has a 1-year low of $81.18 and a 1-year high of $144.24. The business has a 50-day moving average price of $89.51 and a 200 day moving average price of $101.12. The company has a market capitalization of $21.61 billion, a P/E ratio of 13.69, a PEG ratio of 2.93 and a beta of 1.39. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.91 and a quick ratio of 0.91.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The business had revenue of $7.94 billion for the quarter, compared to the consensus estimate of $8.08 billion. During the same quarter last year, the firm posted $1.81 EPS. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities research analysts forecast that Lennar Corporation will post 5.47 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. Lennar’s payout ratio is 31.30%.

Analysts Set New Price Targets

LEN has been the subject of several research analyst reports. Seaport Research Partners reaffirmed a “sell” rating and set a $74.00 target price (down from $140.00) on shares of Lennar in a research note on Tuesday, April 7th. Keefe, Bruyette & Woods lowered their target price on Lennar from $86.00 to $85.00 and set an “underperform” rating for the company in a research report on Wednesday, June 17th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Lennar in a research report on Friday, June 5th. UBS Group reduced their target price on shares of Lennar from $107.00 to $94.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 16th. Finally, Bank of America lowered their target price on shares of Lennar from $84.00 to $77.00 and set an “underperform” rating for the company in a report on Friday, June 12th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and ten have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $95.00.

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.