Bank Julius Baer & Co. Ltd Zurich Sells 11,652 Shares of Lennar Corporation $LEN

Bank Julius Baer & Co. Ltd Zurich reduced its holdings in shares of Lennar Corporation (NYSE:LEN) by 34.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,579 shares of the construction company’s stock after selling 11,652 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Lennar were worth $2,343,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of LEN. Guerra Advisors Inc bought a new stake in Lennar during the third quarter worth $25,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Lennar in the third quarter valued at $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of Lennar in the third quarter valued at $26,000. High Point Wealth Management LLC bought a new stake in shares of Lennar in the fourth quarter valued at $31,000. Finally, Washington Trust Advisors Inc. raised its stake in shares of Lennar by 102.7% in the third quarter. Washington Trust Advisors Inc. now owns 371 shares of the construction company’s stock valued at $47,000 after buying an additional 188 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Lennar Price Performance

Shares of NYSE LEN opened at $82.28 on Friday. The stock has a market cap of $20.32 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.88 and a beta of 1.41. Lennar Corporation has a fifty-two week low of $82.06 and a fifty-two week high of $144.24. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 4.77. The stock has a fifty day moving average of $91.05 and a 200-day moving average of $107.85.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.07). The company had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.90 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. Lennar’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.14 earnings per share. Equities research analysts anticipate that Lennar Corporation will post 5.87 earnings per share for the current year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd were given a $0.50 dividend. The ex-dividend date was Wednesday, April 22nd. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. Lennar’s payout ratio is 28.74%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LEN shares. Truist Financial lowered their target price on Lennar from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Tuesday, March 31st. Argus lowered their target price on Lennar from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Seaport Research Partners restated a “sell” rating and issued a $74.00 target price (down from $140.00) on shares of Lennar in a research note on Tuesday, April 7th. Barclays lowered their target price on Lennar from $85.00 to $80.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 8th. Finally, The Goldman Sachs Group lowered their target price on Lennar from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target 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.