Lennar Corporation $LEN Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC decreased its position in shares of Lennar Corporation (NYSE:LEN) by 50.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 158,264 shares of the construction company’s stock after selling 160,791 shares during the period. Brandywine Global Investment Management LLC owned 0.06% of Lennar worth $17,506,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Kingstone Capital Partners Texas LLC purchased a new stake in Lennar in the 2nd quarter valued at $424,950,000. The Manufacturers Life Insurance Company increased its stake in Lennar by 45.4% in the first quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company’s stock valued at $1,020,866,000 after purchasing an additional 2,777,567 shares during the period. Eminence Capital LP raised its holdings in shares of Lennar by 130.8% in the first quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company’s stock valued at $181,523,000 after buying an additional 896,264 shares during the last quarter. Brave Warrior Advisors LLC boosted its stake in shares of Lennar by 23.4% during the first quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company’s stock worth $251,323,000 after buying an additional 415,218 shares during the period. Finally, Ceredex Value Advisors LLC purchased a new position in shares of Lennar during the first quarter worth about $38,125,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on LEN. Zacks Research downgraded Lennar from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 7th. Wedbush restated a “neutral” rating and set a $130.00 price target on shares of Lennar in a research note on Monday, September 22nd. Royal Bank Of Canada increased their price target on Lennar from $98.00 to $106.00 and gave the stock a “sector perform” rating in a report on Monday, September 22nd. UBS Group boosted their price objective on shares of Lennar from $146.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Finally, Citigroup restated an “outperform” rating on shares of Lennar in a research note on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $121.75.

Lennar Price Performance

Shares of NYSE LEN opened at $123.04 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49. Lennar Corporation has a one year low of $98.42 and a one year high of $180.12. The firm has a market capitalization of $31.38 billion, a P/E ratio of 12.16, a PEG ratio of 5.78 and a beta of 1.33. The company’s fifty day moving average is $124.17 and its two-hundred day moving average is $119.48.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, September 18th. The construction company reported $2.00 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.14). The company had revenue of $8.81 billion during the quarter, compared to analyst estimates of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the business earned $3.90 EPS. Analysts forecast that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Friday, October 10th were issued a $0.50 dividend. The ex-dividend date was Friday, October 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.6%. Lennar’s dividend payout ratio is currently 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.