Lennar Co. (NYSE:LEN) Shares Sold by abrdn plc

abrdn plc lessened its position in Lennar Co. (NYSE:LEN - Free Report) by 21.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 58,118 shares of the construction company's stock after selling 15,767 shares during the period. abrdn plc's holdings in Lennar were worth $7,938,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Holocene Advisors LP acquired a new position in Lennar during the third quarter worth $115,229,000. Pacer Advisors Inc. lifted its position in Lennar by 22.0% in the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company's stock valued at $446,110,000 after acquiring an additional 589,553 shares in the last quarter. Nordea Investment Management AB boosted its stake in Lennar by 21.4% during the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company's stock valued at $308,696,000 after purchasing an additional 397,492 shares during the last quarter. KBC Group NV increased its holdings in Lennar by 258.3% during the 3rd quarter. KBC Group NV now owns 494,848 shares of the construction company's stock worth $92,774,000 after purchasing an additional 356,731 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Lennar by 23,048.0% in the third quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company's stock valued at $28,209,000 after purchasing an additional 149,812 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LEN shares. Bank of America lowered their price target on Lennar from $150.00 to $140.00 and set a "neutral" rating for the company in a research report on Monday, January 27th. Royal Bank of Canada lowered their target price on shares of Lennar from $130.00 to $125.00 and set a "sector perform" rating for the company in a report on Thursday. Keefe, Bruyette & Woods reduced their price objective on shares of Lennar from $210.00 to $170.00 and set an "outperform" rating for the company in a research report on Friday, December 20th. UBS Group dropped their target price on shares of Lennar from $205.00 to $192.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Finally, Wedbush reaffirmed a "neutral" rating and set a $164.00 price target on shares of Lennar in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $167.19.

Lennar Stock Performance

Shares of NYSE LEN traded up $0.67 during midday trading on Monday, hitting $122.61. 4,119,623 shares of the stock traded hands, compared to its average volume of 3,601,097. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. Lennar Co. has a one year low of $121.40 and a one year high of $193.80. The firm has a market capitalization of $32.56 billion, a P/E ratio of 8.55, a PEG ratio of 1.28 and a beta of 1.67. The firm has a 50-day moving average of $141.34 and a two-hundred day moving average of $164.66.

Lennar (NYSE:LEN - Get Free Report) last announced its earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing analysts' consensus estimates of $4.15 by ($0.12). Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business had revenue of $9.95 billion for the quarter, compared to analysts' expectations of $10.06 billion. During the same period in the prior year, the company posted $4.82 earnings per share. The firm's quarterly revenue was down 9.3% on a year-over-year basis. On average, equities analysts forecast that Lennar Co. will post 12.52 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.63%. Lennar's dividend payout ratio (DPR) is presently 13.95%.

About Lennar

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.