Jennison Associates LLC Has $41.59 Million Holdings in Lennar Co. (NYSE:LEN)

Jennison Associates LLC cut its stake in shares of Lennar Co. (NYSE:LEN - Free Report) by 11.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Moors & Cabot Inc. raised its holdings in Lennar by 2.2% during the third quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company's stock valued at $577,000 after buying an additional 66 shares in the last quarter. Centaurus Financial Inc. raised its stake in shares of Lennar by 2.5% in the third quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company's stock valued at $551,000 after acquiring an additional 71 shares during the last quarter. Commerce Bank raised its stake in shares of Lennar by 0.5% in the third quarter. Commerce Bank now owns 15,074 shares of the construction company's stock valued at $2,826,000 after acquiring an additional 74 shares during the last quarter. Jupiter Wealth Management LLC raised its position in Lennar by 1.0% in the 3rd quarter. Jupiter Wealth Management LLC now owns 7,667 shares of the construction company's stock worth $1,437,000 after purchasing an additional 75 shares during the last quarter. Finally, Armstrong Advisory Group Inc. raised its position in shares of Lennar by 69.4% during the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company's stock valued at $25,000 after acquiring an additional 75 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LEN shares. Citigroup decreased their price target on shares of Lennar from $196.00 to $150.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Keefe, Bruyette & Woods dropped their target price on shares of Lennar from $210.00 to $170.00 and set an "outperform" rating on the stock in a report on Friday, December 20th. Wolfe Research cut shares of Lennar from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their target price on shares of Lennar from $192.00 to $173.00 and set a "neutral" rating on the stock in a research report on Friday, December 13th. Finally, UBS Group reduced their price target on shares of Lennar from $205.00 to $192.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $167.19.

Lennar Price Performance

Lennar stock traded down $5.30 during trading on Friday, reaching $121.95. The company had a trading volume of 6,100,776 shares, compared to its average volume of 3,580,348. The firm's 50-day simple moving average is $141.34 and its 200 day simple moving average is $164.74. Lennar Co. has a 1-year low of $121.40 and a 1-year high of $193.80. The firm has a market capitalization of $32.38 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 1.28 and a beta of 1.67. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly 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 company had revenue of $9.95 billion for the quarter, compared to analysts' expectations of $10.06 billion. During the same quarter in the prior year, the firm earned $4.82 EPS. The firm's revenue was down 9.3% on a year-over-year basis. As a group, equities research analysts anticipate that Lennar Co. will post 12.52 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Wednesday, January 29th. Lennar's dividend payout ratio is presently 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.