Lennar Corporation $LEN Shares Sold by JGP Wealth Management LLC

JGP Wealth Management LLC lowered its stake in shares of Lennar Corporation (NYSE:LEN) by 21.4% in the third quarter, HoldingsChannel reports. The fund owned 58,762 shares of the construction company’s stock after selling 15,957 shares during the quarter. JGP Wealth Management LLC’s holdings in Lennar were worth $7,541,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in Lennar during the second quarter worth approximately $33,000. Rexford Capital Inc. purchased a new stake in shares of Lennar during the 2nd quarter valued at $36,000. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Lennar during the 2nd quarter worth $43,000. Cary Street Partners Financial LLC purchased a new position in shares of Lennar in the 2nd quarter worth $47,000. Finally, SBI Securities Co. Ltd. boosted its holdings in Lennar by 190.9% in the second quarter. SBI Securities Co. Ltd. now owns 573 shares of the construction company’s stock valued at $63,000 after acquiring an additional 376 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Price Performance

LEN opened at $105.00 on Thursday. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $144.24. The company has a current ratio of 4.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18. The firm has a market cap of $26.78 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.07 and a beta of 1.38. The company has a fifty day simple moving average of $121.80 and a 200 day simple moving average of $121.55.

Lennar (NYSE:LEN) last announced its earnings results on Tuesday, December 16th. The construction company reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.27). The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.17 billion. Lennar had a return on equity of 9.27% and a net margin of 6.08%.The firm’s revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.03 earnings per share. Equities research analysts expect that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Friday, October 10th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, October 10th. Lennar’s dividend payout ratio is 25.03%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LEN shares. Zacks Research upgraded Lennar from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 4th. The Goldman Sachs Group reissued a “neutral” rating and set a $120.00 target price on shares of Lennar in a research report on Thursday, December 18th. Barclays reduced their price target on shares of Lennar from $98.00 to $88.00 and set an “underweight” rating on the stock in a research report on Thursday, December 18th. JPMorgan Chase & Co. cut their target price on shares of Lennar from $115.00 to $80.00 and set an “underweight” rating on the stock in a research note on Thursday, December 18th. Finally, UBS Group decreased their price target on shares of Lennar from $161.00 to $137.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat, Lennar currently has an average rating of “Reduce” and a consensus target price of $109.62.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.