Lennar Co. (NYSE:LEN) Shares Sold by JGP Wealth Management LLC

JGP Wealth Management LLC trimmed its holdings in shares of Lennar Co. (NYSE:LEN - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,502 shares of the construction company's stock after selling 5,871 shares during the period. JGP Wealth Management LLC's holdings in Lennar were worth $8,437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Crews Bank & Trust purchased a new stake in Lennar in the 4th quarter worth $25,000. Hurley Capital LLC purchased a new stake in Lennar in the 4th quarter worth $26,000. SBI Securities Co. Ltd. purchased a new stake in Lennar in the 4th quarter worth $28,000. Ameriflex Group Inc. purchased a new stake in Lennar in the 4th quarter worth $30,000. Finally, Franchise Capital Ltd purchased a new stake in Lennar in the 1st quarter worth $38,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of Lennar from $141.00 to $120.00 and set a "neutral" rating for the company in a report on Tuesday, March 25th. Keefe, Bruyette & Woods dropped their target price on shares of Lennar from $141.00 to $128.00 and set a "market perform" rating for the company in a report on Tuesday, March 25th. Wall Street Zen raised shares of Lennar from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Bank of America lowered their price target on shares of Lennar from $140.00 to $130.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 18th. Finally, Wells Fargo & Company decreased their target price on shares of Lennar from $120.00 to $110.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Fifteen analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $150.07.

Lennar Stock Up 0.6%

LEN stock traded up $0.62 during midday trading on Thursday, reaching $110.85. 768,200 shares of the company were exchanged, compared to its average volume of 2,625,704. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. Lennar Co. has a 1-year low of $98.42 and a 1-year high of $187.61. The stock's 50-day simple moving average is $107.84 and its 200 day simple moving average is $126.88. The company has a market cap of $29.24 billion, a price-to-earnings ratio of 7.73, a price-to-earnings-growth ratio of 1.24 and a beta of 1.41.

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

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were issued a $0.50 dividend. The ex-dividend date was Wednesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.80%. Lennar's payout ratio is 14.57%.

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.