Vontobel Holding Ltd. Sells 3,689 Shares of Lennar Corporation (NYSE:LEN)

Vontobel Holding Ltd. lowered its holdings in shares of Lennar Corporation (NYSE:LEN - Free Report) by 26.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,191 shares of the construction company's stock after selling 3,689 shares during the period. Vontobel Holding Ltd.'s holdings in Lennar were worth $1,170,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its holdings in shares of Lennar by 3.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company's stock worth $834,115,000 after buying an additional 213,003 shares in the last quarter. 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 worth $441,769,000 after buying an additional 515,378 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new position in shares of Lennar during the 4th quarter worth $218,533,000. Eminence Capital LP raised its holdings in shares of Lennar by 43.4% during the 4th quarter. Eminence Capital LP now owns 685,225 shares of the construction company's stock worth $93,444,000 after buying an additional 207,343 shares in the last quarter. Finally, D1 Capital Partners L.P. increased its holdings in Lennar by 67.3% in the 4th quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company's stock worth $88,116,000 after purchasing an additional 270,433 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LEN. Zelman & Associates cut Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. Keefe, Bruyette & Woods lowered their target price on Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a report on Friday, June 20th. Wedbush reaffirmed a "neutral" rating and issued a $130.00 target price on shares of Lennar in a report on Wednesday, June 18th. Wall Street Zen cut Lennar from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Finally, UBS Group reduced their price target on Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $128.85.

Lennar Trading Down 4.3%

Shares of Lennar stock traded down $4.96 on Friday, hitting $110.35. 3,163,101 shares of the company's stock traded hands, compared to its average volume of 2,715,093. Lennar Corporation has a one year low of $98.42 and a one year 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 of $108.89 and a two-hundred day moving average of $118.12. The company has a market capitalization of $29.11 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 4.54 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 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 the consensus estimate of $8.21 billion. During the same quarter in the previous year, the company earned $3.45 EPS. The firm's revenue for the quarter was down 4.4% on a year-over-year basis. As a group, sell-side analysts expect that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.00 annualized dividend and a yield of 1.81%. Lennar's payout ratio is currently 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.