Wellington Management Group LLP Sells 1,486,390 Shares of Lennar Corporation $LEN

Wellington Management Group LLP lessened its holdings in Lennar Corporation (NYSE:LEN) by 45.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,753,098 shares of the construction company’s stock after selling 1,486,390 shares during the period. Wellington Management Group LLP’s holdings in Lennar were worth $201,221,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC purchased a new position in shares of Lennar during the 4th quarter worth $218,533,000. ANTIPODES PARTNERS Ltd purchased a new position in Lennar during the first quarter valued at $41,788,000. AustralianSuper Pty Ltd bought a new stake in Lennar during the first quarter valued at about $37,055,000. D1 Capital Partners L.P. increased its position in Lennar by 67.3% in the fourth quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company’s stock worth $88,116,000 after buying an additional 270,433 shares in the last quarter. Finally, Man Group plc raised its stake in shares of Lennar by 112.5% in the fourth quarter. Man Group plc now owns 506,722 shares of the construction company’s stock worth $69,102,000 after buying an additional 268,209 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Bank of America cut their price objective on Lennar from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, June 18th. Barclays dropped their price target on shares of Lennar from $110.00 to $95.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 18th. Zelman & Associates lowered Lennar from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 18th. Wedbush reissued a “neutral” rating and issued a $130.00 target price on shares of Lennar in a report on Wednesday, June 18th. Finally, Evercore ISI reduced their target price on Lennar from $131.00 to $114.00 and set an “in-line” rating on the stock in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $128.85.

Lennar Price Performance

LEN stock opened at $130.2190 on Thursday. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $193.80. The firm has a market capitalization of $33.73 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 5.70 and a beta of 1.29. The company has a fifty day simple moving average of $115.19 and a two-hundred day simple moving average of $114.19. The company has a quick ratio of 0.49, a current ratio of 3.65 and a debt-to-equity ratio of 0.12.

Lennar (NYSE:LEN) last announced its earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.04). Lennar had a net margin of 9.20% and a return on equity of 12.73%. The business had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.21 billion. During the same quarter in the prior year, the company posted $3.45 earnings per share. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. Analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were issued a $0.50 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.5%. Lennar’s payout ratio is 16.54%.

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.