Vontobel Holding Ltd. Trims Holdings in Lennar Corporation (NYSE:LEN)

by · The Cerbat Gem

Vontobel Holding Ltd. decreased its stake in shares of Lennar Corporation (NYSE:LEN – Free Report) by 26.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 10,191 shares of the construction company’s stock after selling 3,689 shares during the quarter. Vontobel Holding Ltd.’s holdings in Lennar were worth $1,170,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Hurley Capital LLC purchased a new stake in Lennar in the fourth quarter valued at $26,000. SBI Securities Co. Ltd. purchased a new stake in Lennar in the fourth quarter valued at $28,000. Ameriflex Group Inc. purchased a new stake in Lennar in the fourth quarter valued at $30,000. Opal Wealth Advisors LLC purchased a new stake in Lennar in the first quarter valued at $30,000. Finally, NBC Securities Inc. purchased a new stake in Lennar in the first quarter valued at $33,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. UBS Group reduced their target price on Lennar from $164.00 to $146.00 and set a “buy” rating on the stock in a research report on Wednesday, June 18th. Wells Fargo & Company dropped their price objective on Lennar from $120.00 to $110.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Zelman & Associates cut Lennar from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 18th. Wedbush reaffirmed a “neutral” rating and issued a $130.00 price objective on shares of Lennar in a research note on Wednesday, June 18th. Finally, Bank of America dropped their price objective on Lennar from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $128.85.

Get Our Latest Report on Lennar

Lennar Trading Down 4.3%

LEN opened at $110.35 on Friday. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $187.61. The stock has a market capitalization of $29.11 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 4.54 and a beta of 1.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. The business has a fifty day moving average price of $108.89 and a 200 day moving average price of $118.31.

Lennar (NYSE:LEN – Get Free Report) last released its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.04). The business had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.21 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.45 earnings per share. Sell-side analysts expect that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.00 annualized dividend and a dividend yield of 1.81%. Lennar’s dividend payout ratio is currently 16.54%.

Lennar Profile

(Free Report)

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.

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