Lennar Corporation $LEN Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its position in shares of Lennar Corporation (NYSE:LEN) by 43.8% in the second quarter, Holdings Channel.com reports. The firm owned 2,049 shares of the construction company’s stock after selling 1,596 shares during the period. Ritholtz Wealth Management’s holdings in Lennar were worth $227,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Disciplina Capital Management LLC grew its holdings in Lennar by 179.8% during the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock valued at $38,000 after purchasing an additional 214 shares in the last quarter. Oakworth Capital Inc. grew its holdings in Lennar by 139.9% during the 1st quarter. Oakworth Capital Inc. now owns 343 shares of the construction company’s stock worth $39,000 after acquiring an additional 200 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Lennar during the 1st quarter worth $44,000. Valley National Advisers Inc. grew its holdings in Lennar by 34.7% during the 1st quarter. Valley National Advisers Inc. now owns 466 shares of the construction company’s stock worth $53,000 after acquiring an additional 120 shares in the last quarter. Finally, Horizon Financial Services LLC acquired a new position in Lennar during the 1st quarter worth $66,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Lennar from $135.00 to $125.00 and set an “equal weight” rating for the company in a report on Friday, October 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Lennar in a report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price objective on shares of Lennar from $97.00 to $92.00 and set a “neutral” rating for the company in a report on Monday, September 22nd. Raymond James Financial downgraded shares of Lennar from a “market perform” rating to an “underperform” rating in a research report on Monday, September 22nd. Finally, The Goldman Sachs Group raised their price target on shares of Lennar from $122.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $121.75.

Lennar Trading Up 1.9%

Shares of NYSE:LEN opened at $128.20 on Wednesday. The company has a market cap of $32.69 billion, a PE ratio of 12.67, a P/E/G ratio of 5.86 and a beta of 1.37. The company’s 50-day moving average price is $129.78 and its 200 day moving average price is $116.95. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $180.12. The company has a quick ratio of 0.68, a current ratio of 4.49 and a debt-to-equity ratio of 0.15.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.15. The firm had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. Lennar’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period last year, the firm posted $3.90 EPS. Sell-side analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, October 10th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.00 annualized dividend and a yield of 1.6%. Lennar’s dividend payout ratio (DPR) is presently 19.76%.

About Lennar

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.