Lennar Corporation $LEN Shares Sold by Knightsbridge Asset Management LLC

Key Points

• Knightsbridge Asset Management LLC has reduced its position in Lennar Corporation by 7.9%, now holding 37,781 shares valued at $4.34 million.
• Lennar's stock is currently trading at $141.81, with a market cap of $36.73 billion and a P/E ratio of 11.73.
• The company recently declared a quarterly dividend of $0.50 per share, yielding 1.4% annually, with a payout ratio of 16.54%.

Knightsbridge Asset Management LLC cut its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 7.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,781 shares of the construction company's stock after selling 3,256 shares during the quarter. Knightsbridge Asset Management LLC's holdings in Lennar were worth $4,337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new stake in Lennar during the 4th quarter worth about $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of Lennar during the first quarter worth about $30,000. NBC Securities Inc. purchased a new stake in Lennar in the first quarter valued at approximately $33,000. Franchise Capital Ltd acquired a new position in Lennar in the 1st quarter worth approximately $38,000. Finally, Disciplina Capital Management LLC raised its position in Lennar by 179.8% during the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company's stock worth $38,000 after buying an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Lennar Price Performance

LEN stock traded down $2.27 during mid-day trading on Friday, reaching $137.82. 1,386,892 shares of the company's stock were exchanged, compared to its average volume of 3,151,516. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $193.80. The stock's 50 day moving average is $123.53 and its 200 day moving average is $115.51. The company has a market cap of $35.70 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 5.80 and a beta of 1.33.

Lennar (NYSE:LEN - Get Free Report) last announced its earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.04). Lennar had a return on equity of 12.73% and a net margin of 9.20%.The business had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.21 billion. During the same period in the previous year, the company earned $3.45 earnings per share. The company's quarterly revenue was down 4.4% compared to the same quarter last year. On average, research analysts expect that Lennar Corporation will post 12.48 EPS for the current 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 paid a dividend of $0.50 per share. The ex-dividend date of this dividend 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 currently 16.54%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LEN. Zacks Research raised shares of Lennar from a "strong sell" rating to a "hold" rating in a report on Monday. Bank of America lowered their price target on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, June 18th. Wells Fargo & Company lifted their price objective on Lennar from $110.00 to $135.00 and gave the company an "equal weight" rating in a research note on Tuesday, September 2nd. UBS Group decreased their price objective on Lennar from $164.00 to $146.00 and set a "buy" rating for the company in a report on Wednesday, June 18th. Finally, Evercore ISI dropped 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 analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and fifteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $130.77.

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.