Wellington Management Group LLP Boosts Holdings in Lennar Co. (NYSE:LEN)

Wellington Management Group LLP lifted its stake in shares of Lennar Co. (NYSE:LEN - Free Report) by 18.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,239,488 shares of the construction company's stock after buying an additional 515,378 shares during the quarter. Wellington Management Group LLP owned about 1.22% of Lennar worth $441,769,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Bamco Inc. NY increased its stake in Lennar by 2.6% in the third quarter. Bamco Inc. NY now owns 711,023 shares of the construction company's stock valued at $133,303,000 after purchasing an additional 17,834 shares in the last quarter. Community Bank N.A. increased its position in Lennar by 14.6% in the 3rd quarter. Community Bank N.A. now owns 4,465 shares of the construction company's stock valued at $837,000 after buying an additional 570 shares in the last quarter. Holocene Advisors LP acquired a new position in Lennar during the 3rd quarter worth approximately $115,229,000. Hilltop Holdings Inc. bought a new position in Lennar in the third quarter worth approximately $533,000. Finally, HighVista Strategies LLC bought a new stake in shares of Lennar during the third quarter valued at approximately $1,444,000. Institutional investors own 81.10% of the company's stock.

Lennar Price Performance

Shares of LEN traded up $2.47 during trading hours on Friday, reaching $110.87. 7,728,176 shares of the company's stock traded hands, compared to its average volume of 2,516,754. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The firm's 50 day simple moving average is $121.78 and its 200-day simple moving average is $148.63. The stock has a market cap of $29.44 billion, a PE ratio of 7.73, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. Lennar Co. has a 12 month low of $106.20 and a 12 month high of $187.61.

Remove Ads

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.44. The business had revenue of $7.63 billion during the quarter, compared to analysts' expectations of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.57 EPS. Equities analysts expect that Lennar Co. will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.80%. Lennar's payout ratio is 14.57%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LEN. UBS Group cut their target price on Lennar from $183.00 to $164.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Wedbush reiterated a "neutral" rating and set a $158.00 price objective on shares of Lennar in a report on Monday, March 17th. Keefe, Bruyette & Woods lowered their target price on shares of Lennar from $141.00 to $128.00 and set a "market perform" rating on the stock in a report on Tuesday, March 25th. Evercore ISI reiterated an "in-line" rating and set a $131.00 price target (down previously from $159.00) on shares of Lennar in a research note on Monday, March 24th. Finally, Barclays lowered their price objective on Lennar from $121.00 to $110.00 and set an "equal weight" rating for the company in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $151.07.

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.