Systematic Alpha Investments LLC Sells 7,090 Shares of Lennar Corporation $LEN

Systematic Alpha Investments LLC cut its holdings in shares of Lennar Corporation (NYSE:LEN) by 66.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,639 shares of the construction company’s stock after selling 7,090 shares during the quarter. Systematic Alpha Investments LLC’s holdings in Lennar were worth $459,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LEN. Guerra Advisors Inc acquired a new position in shares of Lennar during the third quarter worth $25,000. Redmont Wealth Advisors LLC acquired a new stake in Lennar in the third quarter valued at $26,000. Rexford Capital Inc. bought a new position in Lennar during the 2nd quarter worth $36,000. Washington Trust Advisors Inc. lifted its holdings in Lennar by 102.7% during the 3rd quarter. Washington Trust Advisors Inc. now owns 371 shares of the construction company’s stock worth $47,000 after buying an additional 188 shares during the period. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of Lennar in the second quarter valued at about $47,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LEN shares. Citigroup decreased their target price on shares of Lennar from $133.00 to $113.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Evercore cut shares of Lennar from an “in-line” rating to an “underperform” rating and decreased their price objective for the stock from $114.00 to $92.00 in a research report on Thursday, December 18th. Bank of America reissued an “underperform” rating and set a $95.00 target price (down from $125.00) on shares of Lennar in a research note on Thursday, December 18th. Royal Bank Of Canada set a $88.00 price target on shares of Lennar in a research report on Friday, January 9th. Finally, Truist Financial initiated coverage on Lennar in a research report on Wednesday. They issued a “hold” rating and a $110.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, ten have given a Hold rating and eight have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $106.64.

Lennar Price Performance

LEN stock opened at $104.20 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 company’s 50-day moving average is $113.28 and its 200-day moving average is $121.19. The stock has a market capitalization of $25.74 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.55 and a beta of 1.43. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $144.24.

Lennar (NYSE:LEN) last issued its earnings results on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.27). The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.17 billion. Lennar had a net margin of 6.08% and a return on equity of 9.27%. The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $4.03 earnings per share. Equities research analysts expect that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Wednesday, February 4th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, February 4th. Lennar’s dividend payout ratio (DPR) is currently 25.03%.

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.