Sherbrooke Park Advisers LLC Sells 8,290 Shares of Lennar Co. (NYSE:LEN)

Sherbrooke Park Advisers LLC reduced its stake in Lennar Co. (NYSE:LEN) by 57.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,266 shares of the construction company’s stock after selling 8,290 shares during the period. Sherbrooke Park Advisers LLC’s holdings in Lennar were worth $854,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LEN. Sig Brokerage LP acquired a new stake in Lennar during the fourth quarter worth about $256,000. Raiffeisen Bank International AG bought a new position in Lennar during the 4th quarter worth approximately $524,000. ProShare Advisors LLC raised its holdings in Lennar by 13.4% during the 4th quarter. ProShare Advisors LLC now owns 45,245 shares of the construction company’s stock worth $6,170,000 after purchasing an additional 5,337 shares during the last quarter. Mufg Securities Americas Inc. acquired a new stake in shares of Lennar during the 4th quarter worth approximately $481,000. Finally, Parkwood LLC grew its position in Lennar by 55.0% in the 4th quarter. Parkwood LLC now owns 61,097 shares of the construction company’s stock valued at $8,332,000 after purchasing an additional 21,670 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Up 1.6%

Shares of LEN opened at $110.15 on Friday. The company has a market capitalization of $29.06 billion, a price-to-earnings ratio of 7.68, a PEG ratio of 1.24 and a beta of 1.41. The stock’s 50-day moving average price is $110.89 and its 200-day moving average price is $133.00. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. Lennar Co. has a 52 week low of $98.42 and a 52 week high of $187.61.

Lennar (NYSE:LEN) last released its earnings results on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.44. The business had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.57 earnings per share. On average, sell-side analysts predict that Lennar Co. will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, April 23rd. This represents a $2.00 annualized dividend and a yield of 1.82%. Lennar’s dividend payout ratio (DPR) is 14.57%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on LEN shares. The Goldman Sachs Group lowered their target price on Lennar from $141.00 to $120.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 25th. Evercore ISI reiterated an “in-line” rating and issued a $131.00 price objective (down previously from $159.00) on shares of Lennar in a research report on Monday, March 24th. Bank of America decreased their target price on Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, March 18th. Royal Bank of Canada cut their target price on Lennar from $125.00 to $122.00 and set a “sector perform” rating on the stock in a research note on Monday, March 24th. Finally, StockNews.com raised Lennar from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Fifteen equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lennar currently has a consensus rating of “Hold” and an average target price of $150.07.

Lennar Profile

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.