Axxcess Wealth Management LLC Has $267,000 Holdings in Lennar Co. (NYSE:LEN)

Axxcess Wealth Management LLC cut its stake in shares of Lennar Co. (NYSE:LEN) by 31.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,956 shares of the construction company’s stock after selling 880 shares during the period. Axxcess Wealth Management LLC’s holdings in Lennar were worth $267,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. TCTC Holdings LLC grew its stake in shares of Lennar by 458.8% during the fourth quarter. TCTC Holdings LLC now owns 447 shares of the construction company’s stock worth $61,000 after purchasing an additional 367 shares during the period. Cibc World Markets Corp grew its stake in Lennar by 14.9% in the fourth quarter. Cibc World Markets Corp now owns 37,654 shares of the construction company’s stock valued at $5,135,000 after acquiring an additional 4,889 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in Lennar by 10.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,377 shares of the construction company’s stock valued at $1,006,000 after acquiring an additional 672 shares during the period. Avalon Trust Co grew its stake in Lennar by 3.5% in the fourth quarter. Avalon Trust Co now owns 9,315 shares of the construction company’s stock valued at $1,270,000 after acquiring an additional 315 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in Lennar by 5.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 50,054 shares of the construction company’s stock valued at $6,826,000 after acquiring an additional 2,621 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Price Performance

NYSE:LEN opened at $115.09 on Friday. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average price is $126.09 and its two-hundred day moving average price is $153.31. The firm has a market capitalization of $30.56 billion, a price-to-earnings ratio of 8.03, a P/E/G ratio of 1.24 and a beta of 1.69. Lennar Co. has a 12-month low of $111.26 and a 12-month high of $187.61.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.44. The firm had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.57 earnings per share. On average, analysts anticipate that Lennar Co. will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 annualized dividend and a yield of 1.74%. Lennar’s dividend payout ratio is 13.95%.

Wall Street Analyst Weigh In

LEN has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods cut Lennar from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $152.00 to $141.00 in a research note on Tuesday, March 11th. Wolfe Research cut Lennar from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. UBS Group reduced their price objective on Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Seaport Res Ptn raised Lennar from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Finally, Wedbush reaffirmed a “neutral” rating and set a $158.00 price objective on shares of Lennar in a research report on Monday, March 17th. Fourteen equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $164.53.

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.