Hsbc Holdings PLC Lowers Position in Lennar Corporation $LEN

Hsbc Holdings PLC lessened its stake in Lennar Corporation (NYSE:LEN) by 9.2% during the first quarter, Holdings Channel reports. The firm owned 431,986 shares of the construction company’s stock after selling 44,020 shares during the period. Hsbc Holdings PLC’s holdings in Lennar were worth $37,501,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Lazard Asset Management LLC raised its position in Lennar by 7.1% in the 2nd quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock valued at $141,000 after buying an additional 85 shares during the last quarter. Rossby Financial LCC raised its holdings in shares of Lennar by 9.1% in the fourth quarter. Rossby Financial LCC now owns 1,059 shares of the construction company’s stock valued at $109,000 after purchasing an additional 88 shares during the last quarter. New Mexico Educational Retirement Board lifted its position in shares of Lennar by 1.0% during the fourth quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company’s stock valued at $1,086,000 after purchasing an additional 100 shares in the last quarter. KDT Advisors LLC boosted its holdings in Lennar by 2.7% during the third quarter. KDT Advisors LLC now owns 4,654 shares of the construction company’s stock worth $587,000 after purchasing an additional 123 shares during the last quarter. Finally, Orion Porfolio Solutions LLC grew its position in Lennar by 0.7% in the 4th quarter. Orion Porfolio Solutions LLC now owns 17,725 shares of the construction company’s stock worth $1,822,000 after purchasing an additional 130 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

Shares of LEN opened at $83.03 on Tuesday. The stock’s 50-day simple moving average is $88.15 and its 200 day simple moving average is $97.67. The stock has a market capitalization of $20.00 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 2.79 and a beta of 1.38. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91. Lennar Corporation has a 52-week low of $81.18 and a 52-week high of $144.24.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The business had revenue of $7.94 billion during the quarter, compared to analyst estimates of $8.08 billion. During the same quarter in the previous year, the firm earned $1.81 EPS. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. Research analysts forecast that Lennar Corporation will post 5.52 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Friday, July 10th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.00 annualized dividend and a yield of 2.4%. Lennar’s payout ratio is currently 31.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on LEN shares. Keefe, Bruyette & Woods dropped their target price on shares of Lennar from $86.00 to $85.00 and set an “underperform” rating on the stock in a research report on Wednesday, June 17th. UBS Group decreased their price target on Lennar from $107.00 to $94.00 and set a “neutral” rating for the company in a research report on Tuesday, June 16th. Wells Fargo & Company dropped their price target on Lennar from $90.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, June 15th. Royal Bank Of Canada lowered their target price on Lennar from $88.00 to $85.00 and set an “underperform” rating on the stock in a research note on Monday, June 15th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Lennar in a report on Thursday, June 11th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and ten have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $92.80.

Lennar 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.