Lennar Corporation $LEN Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Lennar Corporation by 45.9%, selling 1,486,390 shares, which left it with a total of 1,753,098 shares valued at approximately $201.22 million.
• Analyst ratings for Lennar have varied, with the consensus rating currently being "Hold" and a consensus target price of $128.85.
• Lennar announced a quarterly dividend of $0.50 per share, resulting in an annualized dividend yield of 1.5%.

Wellington Management Group LLP cut its holdings in shares of Lennar Corporation (NYSE:LEN - Free Report) by 45.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 owned about 0.66% of Lennar worth $201,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Lennar by 27.9% in the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company's stock valued at $236,000 after purchasing an additional 377 shares during the period. TD Waterhouse Canada Inc. raised its position in shares of Lennar by 2.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 9,998 shares of the construction company's stock worth $1,363,000 after purchasing an additional 227 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Lennar by 0.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 351,926 shares of the construction company's stock worth $47,993,000 after purchasing an additional 1,986 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Lennar by 7.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,709 shares of the construction company's stock worth $370,000 after purchasing an additional 196 shares during the last quarter. Finally, D1 Capital Partners L.P. raised its position in shares of 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 purchasing an additional 270,433 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Trading Down 0.5%

Lennar stock traded down $0.6760 during trading on Monday, hitting $135.0740. The company had a trading volume of 1,696,816 shares, compared to its average volume of 3,173,134. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $193.80. The company has a current ratio of 3.65, a quick ratio of 0.49 and a debt-to-equity ratio of 0.12. The company's 50 day simple moving average is $116.07 and its 200-day simple moving average is $114.08. The stock has a market cap of $34.99 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 5.76 and a beta of 1.29.

Lennar (NYSE:LEN - Get Free Report) last posted 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). The company had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.21 billion. Lennar had a net margin of 9.20% and a return on equity of 12.73%. The firm's revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter last year, the business posted $3.45 EPS. As a group, analysts expect that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were paid a dividend of $0.50 per share. 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 presently 16.54%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LEN shares. Bank of America reduced their price target on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Wednesday, June 18th. UBS Group reduced their price target on shares of Lennar from $164.00 to $146.00 and set a "buy" rating for the company in a research report on Wednesday, June 18th. Wedbush restated a "neutral" rating and set a $130.00 price target on shares of Lennar in a research report on Wednesday, June 18th. Barclays cut their price objective on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. Finally, JMP Securities cut their price objective on shares of Lennar from $150.00 to $130.00 and set a "market outperform" rating for the company in a report on Friday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Lennar currently has a consensus rating of "Hold" and a consensus target price of $128.85.

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.