Lennar Corporation $LEN Shares Sold by Argonautica Private Wealth Management Inc.

Argonautica Private Wealth Management Inc. decreased its stake in shares of Lennar Corporation (NYSE:LEN) by 12.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,404 shares of the construction company’s stock after selling 491 shares during the quarter. Argonautica Private Wealth Management Inc.’s holdings in Lennar were worth $377,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Disciplina Capital Management LLC lifted its position in Lennar by 179.8% during the first quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock worth $38,000 after buying an additional 214 shares in the last quarter. Oakworth Capital Inc. lifted its position in Lennar by 139.9% during the first quarter. Oakworth Capital Inc. now owns 343 shares of the construction company’s stock worth $39,000 after buying an additional 200 shares in the last quarter. Mid American Wealth Advisory Group Inc. purchased a new position in Lennar during the second quarter worth approximately $43,000. Wayfinding Financial LLC purchased a new position in Lennar during the first quarter worth approximately $44,000. Finally, Valley National Advisers Inc. lifted its position in Lennar by 34.7% during the first quarter. Valley National Advisers Inc. now owns 466 shares of the construction company’s stock worth $53,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

NYSE:LEN opened at $128.20 on Wednesday. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $180.12. The company has a quick ratio of 0.68, a current ratio of 4.49 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $32.69 billion, a P/E ratio of 12.67, a P/E/G ratio of 5.86 and a beta of 1.37. The stock’s fifty day moving average is $129.78 and its two-hundred day moving average is $116.95.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The business had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $9.01 billion. During the same period in the previous year, the firm posted $3.90 earnings per share. The company’s revenue was down 6.4% on a year-over-year basis. Equities analysts expect that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, October 10th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.6%. Lennar’s payout ratio is presently 19.76%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LEN. Zacks Research downgraded Lennar from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 7th. Citigroup restated an “outperform” rating on shares of Lennar in a research report on Monday, September 22nd. Wells Fargo & Company reduced their target price on Lennar from $135.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Friday, October 10th. JPMorgan Chase & Co. reduced their target price on Lennar from $97.00 to $92.00 and set a “neutral” rating on the stock in a research report on Monday, September 22nd. Finally, Bank of America reduced their target price on Lennar from $133.00 to $125.00 and set a “neutral” rating on the stock in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $121.75.

About Lennar

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.