Lennar Co. (NYSE:LEN) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its position in shares of Lennar Co. (NYSE:LEN) by 11.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 304,940 shares of the construction company’s stock after selling 38,788 shares during the quarter. Jennison Associates LLC owned 0.11% of Lennar worth $41,585,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Oakworth Capital Inc. acquired a new position in Lennar during the third quarter worth about $27,000. Wolff Wiese Magana LLC boosted its position in shares of Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of Lennar in the 3rd quarter worth approximately $30,000. Asset Dedication LLC boosted its holdings in Lennar by 4,225.0% during the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after buying an additional 169 shares in the last quarter. Finally, Crews Bank & Trust acquired a new position in Lennar in the fourth quarter worth approximately $25,000. Institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LEN. Royal Bank of Canada raised Lennar from an “underperform” rating to a “sector perform” rating and set a $130.00 price objective for the company in a research note on Friday, January 10th. Wedbush restated a “neutral” rating and set a $164.00 price objective on shares of Lennar in a report on Thursday, December 19th. The Goldman Sachs Group decreased their target price on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, December 23rd. JPMorgan Chase & Co. cut their price target on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Finally, Citigroup decreased their price objective on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $167.50.

Lennar Price Performance

NYSE LEN opened at $128.36 on Wednesday. The company has a 50 day moving average price of $145.16 and a two-hundred day moving average price of $165.93. Lennar Co. has a 12-month low of $125.21 and a 12-month high of $193.80. The stock has a market capitalization of $34.08 billion, a PE ratio of 8.95, a price-to-earnings-growth ratio of 1.32 and a beta of 1.67. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last posted its earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing the consensus estimate of $4.15 by ($0.12). Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same period in the previous year, the company earned $4.82 earnings per share. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. As a group, equities analysts predict that Lennar Co. will post 12.52 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.56%. Lennar’s payout ratio is currently 13.95%.

Lennar Company 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.