Lennar Corporation (NYSE:LEN) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its position in shares of Lennar Corporation (NYSE:LEN - Free Report) by 2.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 122,472 shares of the construction company's stock after selling 2,848 shares during the quarter. Chevy Chase Trust Holdings LLC's holdings in Lennar were worth $14,057,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LEN. Castlekeep Investment Advisors LLC acquired a new stake in Lennar in the 4th quarter valued at $218,533,000. Wellington Management Group LLP raised its holdings in shares of Lennar by 18.9% during the 4th quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company's stock valued at $441,769,000 after buying an additional 515,378 shares during the period. D1 Capital Partners L.P. lifted its position in Lennar by 67.3% during the 4th quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company's stock worth $88,116,000 after acquiring an additional 270,433 shares in the last quarter. Man Group plc grew its position in Lennar by 112.5% in the fourth quarter. Man Group plc now owns 506,722 shares of the construction company's stock valued at $69,102,000 after acquiring an additional 268,209 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Lennar by 3.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company's stock worth $834,115,000 after purchasing an additional 213,003 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Stock Performance

NYSE:LEN traded up $1.23 during midday trading on Friday, reaching $111.04. 337,791 shares of the company traded hands, compared to its average volume of 2,667,084. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $187.61. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. The company has a fifty day moving average price of $108.26 and a 200 day moving average price of $120.10. The firm has a market capitalization of $29.29 billion, a price-to-earnings ratio of 9.19, a price-to-earnings-growth ratio of 4.41 and a beta of 1.33.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.04). The firm had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%. The firm's revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.45 EPS. On average, analysts expect that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.00 annualized dividend and a dividend yield of 1.80%. Lennar's dividend payout ratio is presently 16.54%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LEN. Keefe, Bruyette & Woods cut their price objective on shares of Lennar from $128.00 to $114.00 and set a "market perform" rating on the stock in a report on Friday, June 20th. Zelman & Associates downgraded Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. JMP Securities dropped their price objective on Lennar from $150.00 to $130.00 and set a "market outperform" rating on the stock in a report on Friday, June 20th. Royal Bank Of Canada reduced their target price on Lennar from $122.00 to $98.00 and set a "sector perform" rating for the company in a research note on Wednesday, June 18th. Finally, Barclays cut their price target on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lennar presently has an average rating of "Hold" and an average target price of $132.50.

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.