Townsquare Capital LLC Sells 442 Shares of Lennar Co. (NYSE:LEN)

Townsquare Capital LLC lowered its holdings in shares of Lennar Co. (NYSE:LEN) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,276 shares of the construction company’s stock after selling 442 shares during the quarter. Townsquare Capital LLC’s holdings in Lennar were worth $2,220,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of LEN. Pacer Advisors Inc. boosted its stake in shares of Lennar by 22.0% during the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock worth $446,110,000 after acquiring an additional 589,553 shares in the last quarter. Wellington Management Group LLP boosted its position in Lennar by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company’s stock worth $441,769,000 after purchasing an additional 515,378 shares during the period. Nordea Investment Management AB grew its holdings in Lennar by 21.4% during the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after purchasing an additional 397,492 shares during the last quarter. Cannell & Spears LLC raised its position in shares of Lennar by 1.0% in the fourth quarter. Cannell & Spears LLC now owns 514,970 shares of the construction company’s stock valued at $70,226,000 after purchasing an additional 5,311 shares during the period. Finally, Sound Shore Management Inc. CT boosted its holdings in shares of Lennar by 12.2% during the 4th quarter. Sound Shore Management Inc. CT now owns 396,289 shares of the construction company’s stock worth $54,042,000 after buying an additional 42,949 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Evercore ISI restated an “in-line” rating and set a $131.00 price target (down from $159.00) on shares of Lennar in a report on Monday, March 24th. Bank of America lowered their target price on Lennar from $140.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. StockNews.com cut Lennar from a “hold” rating to a “sell” rating in a research report on Saturday, March 29th. Wells Fargo & Company dropped their price objective on shares of Lennar from $120.00 to $110.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Finally, Seaport Res Ptn upgraded shares of Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $150.07.

Lennar Price Performance

Shares of NYSE LEN opened at $102.88 on Thursday. The firm has a market capitalization of $27.14 billion, a P/E ratio of 7.17, a P/E/G ratio of 1.24 and a beta of 1.51. The firm’s 50-day moving average price is $116.79 and its 200-day moving average price is $143.61. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. Lennar Co. has a 1-year low of $98.42 and a 1-year high of $187.61.

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

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $2.00 annualized dividend and a dividend yield of 1.94%. Lennar’s dividend payout ratio is currently 14.57%.

Lennar Company 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.