Prudential Financial Inc. Trims Holdings in Lennar Co. (NYSE:LEN)

Prudential Financial Inc. trimmed its holdings in shares of Lennar Co. (NYSE:LEN - Free Report) by 29.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,668 shares of the construction company's stock after selling 93,555 shares during the period. Prudential Financial Inc. owned about 0.08% of Lennar worth $30,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Crews Bank & Trust bought a new position in Lennar in the fourth quarter worth approximately $25,000. Armstrong Advisory Group Inc. raised its position in shares of Lennar by 69.4% in the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company's stock worth $25,000 after acquiring an additional 75 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Lennar during the 4th quarter worth $28,000. Legacy Investment Solutions LLC purchased a new position in Lennar in the third quarter worth $39,000. Finally, Quarry LP increased its position in Lennar by 136.7% during the 3rd quarter. Quarry LP now owns 232 shares of the construction company's stock valued at $43,000 after buying an additional 134 shares in the last quarter. Institutional investors own 81.10% of the company's stock.

Lennar Price Performance

LEN traded down $4.15 on Friday, reaching $113.83. 3,553,781 shares of the company's stock were exchanged, compared to its average volume of 2,479,698. Lennar Co. has a twelve month low of $111.26 and a twelve month high of $187.61. The stock has a market cap of $30.22 billion, a PE ratio of 7.94, a P/E/G ratio of 1.24 and a beta of 1.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The stock's fifty day moving average price is $124.05 and its 200-day moving average price is $151.13.

Remove Ads

Lennar (NYSE:LEN - Get Free Report) last issued its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business had revenue of $7.63 billion for the quarter, compared to analysts' expectations of $7.44 billion. During the same period in the previous year, the firm posted $2.57 EPS. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. Sell-side analysts expect that Lennar Co. will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.76%. Lennar's payout ratio is 14.57%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LEN shares. Bank of America cut their target price on Lennar from $140.00 to $130.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 18th. StockNews.com downgraded shares of Lennar from a "hold" rating to a "sell" rating in a report on Saturday. Seaport Res Ptn raised Lennar from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Evercore ISI reiterated an "in-line" rating and set a $131.00 price target (down from $159.00) on shares of Lennar in a research report on Monday, March 24th. Finally, Barclays lowered their price objective on Lennar from $121.00 to $110.00 and set an "equal weight" rating on the stock in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lennar presently has a consensus rating of "Hold" and a consensus target price of $151.07.

Lennar 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.