Wellington Management Group LLP Sells 28,391 Shares of Lennar Corporation $LEN

Wellington Management Group LLP cut its holdings in Lennar Corporation (NYSE:LEN) by 13.3% during the second quarter, Holdings Channel.com reports. The fund owned 184,844 shares of the construction company’s stock after selling 28,391 shares during the period. Wellington Management Group LLP’s holdings in Lennar were worth $16,727,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Phillip James Consulting Co. acquired a new stake in shares of Lennar during the first quarter worth $30,000. DV Equities LLC bought a new position in Lennar during the fourth quarter worth about $31,000. Global Assets Advisory LLC acquired a new position in shares of Lennar during the 1st quarter worth about $39,000. Quarry LP bought a new stake in shares of Lennar in the 4th quarter valued at about $41,000. Finally, IFC & Insurance Marketing Inc. acquired a new stake in shares of Lennar in the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

LEN has been the subject of several recent analyst reports. Barclays lowered their target price on shares of Lennar from $80.00 to $79.00 and set an “underweight” rating for the company in a research note on Monday, June 15th. Weiss Ratings restated a “sell (d+)” rating on shares of Lennar in a research report on Thursday, June 11th. Citigroup dropped their price objective on Lennar from $104.00 to $88.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. BTIG Research set a $67.00 target price on Lennar in a research note on Monday, June 15th. Finally, Argus set a $108.00 price target on Lennar in a report on Thursday, July 9th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and ten have assigned a Sell rating to the company. According to data from MarketBeat, Lennar has an average rating of “Reduce” and an average price target of $92.13.

Lennar Stock Up 0.1%

Lennar stock opened at $83.70 on Monday. The company has a 50 day moving average of $85.63 and a 200-day moving average of $90.82. The company has a quick ratio of 0.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.19. Lennar Corporation has a twelve month low of $79.82 and a twelve month high of $144.24. The stock has a market capitalization of $20.16 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 2.78 and a beta of 1.39.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.24 by $0.07. The business had revenue of $7.94 billion for the quarter, compared to analysts’ expectations of $8.08 billion. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The firm’s revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.81 EPS. On average, equities research analysts anticipate that Lennar Corporation will post 5.52 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, July 10th. Lennar’s payout ratio is 31.30%.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.