Wedge Capital Management L L P NC Sells 17,393 Shares of Lennar Co. (NYSE:LEN)

Wedge Capital Management L L P NC cut its position in Lennar Co. (NYSE:LEN) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 252,007 shares of the construction company’s stock after selling 17,393 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Lennar were worth $37,768,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LEN. Seed Wealth Management Inc. grew its position in shares of Lennar by 11.6% in the 2nd quarter. Seed Wealth Management Inc. now owns 3,750 shares of the construction company’s stock valued at $562,000 after acquiring an additional 390 shares during the period. V Square Quantitative Management LLC lifted its stake in Lennar by 7.6% in the 2nd quarter. V Square Quantitative Management LLC now owns 2,882 shares of the construction company’s stock valued at $432,000 after purchasing an additional 204 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Lennar by 12.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 226,926 shares of the construction company’s stock valued at $34,009,000 after buying an additional 25,282 shares during the period. NorthCrest Asset Manangement LLC increased its holdings in shares of Lennar by 1.5% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock worth $730,000 after acquiring an additional 73 shares during the last quarter. Finally, Foguth Wealth Management LLC. raised its stake in Lennar by 45.6% in the 2nd quarter. Foguth Wealth Management LLC. now owns 1,813 shares of the construction company’s stock valued at $272,000 after acquiring an additional 568 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Raymond James lowered shares of Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Argus raised their price objective on shares of Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. StockNews.com downgraded Lennar from a “buy” rating to a “hold” rating in a research report on Monday. Finally, JMP Securities reissued a “market outperform” rating and set a $170.00 price target on shares of Lennar in a report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Lennar presently has an average rating of “Hold” and an average target price of $169.13.

Insider Activity at Lennar

In related news, VP Mark Sustana sold 9,176 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $164.88, for a total transaction of $1,512,938.88. Following the completion of the transaction, the vice president now directly owns 16,768 shares in the company, valued at approximately $2,764,707.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 9.36% of the stock is currently owned by insiders.

Lennar Price Performance

LEN traded up $1.49 on Thursday, hitting $170.61. 1,217,871 shares of the stock were exchanged, compared to its average volume of 2,138,378. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91. Lennar Co. has a 12 month low of $102.90 and a 12 month high of $182.53. The firm has a market capitalization of $46.85 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 1.60 and a beta of 1.60. The business has a 50-day moving average of $160.11 and a two-hundred day moving average of $158.93.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Monday, June 17th. The construction company reported $3.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.18. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.57 billion. Sell-side analysts forecast that Lennar Co. will post 14.16 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. Lennar’s dividend payout ratio is currently 13.60%.

Lennar 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.