Atria Investments Inc Sells 4,352 Shares of Lennar Corporation $LEN

Atria Investments Inc trimmed its holdings in shares of Lennar Corporation (NYSE:LEN) by 3.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 110,805 shares of the construction company’s stock after selling 4,352 shares during the period. Atria Investments Inc’s holdings in Lennar were worth $13,966,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Viking Global Investors LP raised its position in Lennar by 86.7% in the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock worth $279,135,000 after purchasing an additional 1,172,068 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Lennar by 7.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,154,892 shares of the construction company’s stock worth $145,563,000 after buying an additional 75,574 shares in the last quarter. Swiss National Bank lifted its position in shares of Lennar by 4.3% during the 2nd quarter. Swiss National Bank now owns 702,872 shares of the construction company’s stock worth $77,745,000 after buying an additional 29,300 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in Lennar by 16.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 454,585 shares of the construction company’s stock valued at $50,282,000 after buying an additional 65,485 shares in the last quarter. Finally, Basswood Capital Management L.L.C. grew its position in Lennar by 10.6% in the second quarter. Basswood Capital Management L.L.C. now owns 448,984 shares of the construction company’s stock valued at $49,662,000 after acquiring an additional 43,051 shares during the period. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Down 0.1%

Shares of NYSE:LEN opened at $120.84 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.89 and a quick ratio of 1.36. The stock has a market cap of $29.85 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 1.76 and a beta of 1.44. The company has a 50 day moving average of $113.05 and a 200-day moving average of $121.83. Lennar Corporation has a one year low of $98.42 and a one year high of $144.24.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Tuesday, December 16th. The construction company reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.27). Lennar had a net margin of 6.08% and a return on equity of 9.27%. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.17 billion. During the same quarter in the prior year, the company earned $4.03 earnings per share. The company’s quarterly revenue was down 5.8% on a year-over-year basis. On average, sell-side analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Wednesday, February 4th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.7%. Lennar’s payout ratio is 25.03%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $125.00 target price on shares of Lennar in a research note on Tuesday, January 13th. Wells Fargo & Company reduced their price target on shares of Lennar from $110.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 6th. Wall Street Zen lowered shares of Lennar from a “hold” rating to a “sell” rating in a report on Monday, December 8th. Bank of America reissued an “underperform” rating and issued a $95.00 target price (down from $125.00) on shares of Lennar in a report on Thursday, December 18th. Finally, Evercore cut Lennar from an “in-line” rating to an “underperform” rating and dropped their price target for the company from $114.00 to $92.00 in a report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $106.38.

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.