Vest Financial LLC Sells 54,075 Shares of Lennar Corporation $LEN

Vest Financial LLC reduced its stake in Lennar Corporation (NYSE:LEN) by 20.9% during the 4th quarter, HoldingsChannel reports. The firm owned 204,222 shares of the construction company’s stock after selling 54,075 shares during the quarter. Vest Financial LLC’s holdings in Lennar were worth $20,994,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of LEN. Guerra Advisors Inc acquired a new position in Lennar during the third quarter worth $25,000. KERR FINANCIAL PLANNING Corp bought a new position in Lennar during the 3rd quarter valued at about $25,000. Redmont Wealth Advisors LLC bought a new stake in Lennar during the third quarter worth about $26,000. High Point Wealth Management LLC bought a new position in shares of Lennar in the fourth quarter valued at approximately $31,000. Finally, Washington Trust Advisors Inc. boosted its holdings in shares of Lennar by 102.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 371 shares of the construction company’s stock worth $47,000 after acquiring an additional 188 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Trading Down 1.1%

LEN opened at $92.27 on Wednesday. The firm has a 50 day simple moving average of $96.88 and a 200 day simple moving average of $110.65. Lennar Corporation has a fifty-two week low of $83.03 and a fifty-two week high of $144.24. The company has a market cap of $22.79 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 2.05 and a beta of 1.47. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97.

Lennar (NYSE:LEN) last released its earnings results on Thursday, March 12th. The construction company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). The business had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.Lennar’s revenue was down 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.14 EPS. On average, sell-side analysts anticipate that Lennar Corporation will post 5.91 earnings per share for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $2.00 annualized dividend and a yield of 2.2%. Lennar’s dividend payout ratio is presently 28.74%.

Analyst Upgrades and Downgrades

LEN has been the topic of a number of recent analyst reports. UBS Group reduced their price objective on Lennar from $122.00 to $107.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. The Goldman Sachs Group reduced their price target on shares of Lennar from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 10th. Barclays lowered their price objective on shares of Lennar from $85.00 to $80.00 and set an “underweight” rating for the company in a research report on Wednesday, April 8th. Zacks Research raised shares of Lennar from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Finally, Weiss Ratings downgraded Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 16th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and eight have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $99.87.

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.