Glassy Mountain Advisors Inc. Decreases Position in Lennar Co. (NYSE:LEN)

Glassy Mountain Advisors Inc. cut its stake in Lennar Co. (NYSE:LEN) by 10.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,517 shares of the construction company’s stock after selling 296 shares during the quarter. Glassy Mountain Advisors Inc.’s holdings in Lennar were worth $343,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Armstrong Advisory Group Inc. lifted its stake in Lennar by 69.4% in the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after purchasing an additional 75 shares in the last quarter. Crews Bank & Trust purchased a new position in Lennar in the 4th quarter worth approximately $25,000. Oakworth Capital Inc. purchased a new position in Lennar in the 3rd quarter worth approximately $27,000. Wolff Wiese Magana LLC lifted its stake in Lennar by 933.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after purchasing an additional 140 shares in the last quarter. Finally, GHP Investment Advisors Inc. purchased a new position in Lennar in the 3rd quarter worth approximately $30,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Stock Down 0.3 %

Lennar stock opened at $127.11 on Friday. Lennar Co. has a twelve month low of $125.21 and a twelve month high of $193.80. The stock’s fifty day simple moving average is $143.33 and its 200-day simple moving average is $165.36. 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 has a market capitalization of $33.75 billion, a P/E ratio of 8.86, a P/E/G ratio of 1.32 and a beta of 1.67.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the company posted $4.82 EPS. The firm’s revenue was down 9.3% compared to the same quarter last year. As a group, equities analysts expect that Lennar Co. will post 12.52 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.57%. Lennar’s payout ratio is currently 13.95%.

Analyst Ratings Changes

LEN has been the topic of a number of research reports. The Goldman Sachs Group decreased their target price on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, December 23rd. JPMorgan Chase & Co. cut their price target on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Citigroup cut 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. BTIG Research downgraded shares of Lennar from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, Wedbush restated a “neutral” rating and set a $164.00 price target on shares of Lennar in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $167.19.

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.