Lennar Co. (NYSE:LEN) Position Cut by Pitcairn Co.

Pitcairn Co. lowered its position in shares of Lennar Co. (NYSE:LEN) by 7.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,181 shares of the construction company’s stock after selling 239 shares during the period. Pitcairn Co.’s holdings in Lennar were worth $434,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of LEN. Quarry LP boosted its position in shares of Lennar by 136.7% during the third quarter. Quarry LP now owns 232 shares of the construction company’s stock worth $43,000 after buying an additional 134 shares during the period. Worldquant Millennium Advisors LLC bought a new stake in Lennar during the 3rd quarter valued at $1,650,000. Kovitz Investment Group Partners LLC boosted its position in Lennar by 71.7% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 14,327 shares of the construction company’s stock worth $2,686,000 after acquiring an additional 5,981 shares during the period. Insigneo Advisory Services LLC increased its holdings in shares of Lennar by 14.5% during the third quarter. Insigneo Advisory Services LLC now owns 1,443 shares of the construction company’s stock valued at $271,000 after purchasing an additional 183 shares during the period. Finally, EP Wealth Advisors LLC raised its stake in shares of Lennar by 9.9% during the third quarter. EP Wealth Advisors LLC now owns 5,216 shares of the construction company’s stock valued at $978,000 after purchasing an additional 472 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Lennar Price Performance

LEN opened at $110.87 on Friday. Lennar Co. has a 12-month low of $106.20 and a 12-month high of $187.61. 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 firm has a market capitalization of $29.44 billion, a P/E ratio of 7.73, a PEG ratio of 1.24 and a beta of 1.51. The stock has a fifty day moving average of $121.78 and a 200-day moving average of $148.63.

Lennar (NYSE:LEN) last released its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.44. The company had revenue of $7.63 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.57 EPS. Equities analysts forecast that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) is currently 14.57%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group lowered their target price on shares of Lennar from $183.00 to $164.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Bank of America lowered their price objective on shares of Lennar from $140.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. The Goldman Sachs Group decreased their price target on Lennar from $141.00 to $120.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Wedbush reissued a “neutral” rating and issued a $158.00 price objective on shares of Lennar in a research note on Monday, March 17th. Finally, Seaport Res Ptn raised Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Lennar currently has an average rating of “Hold” and a consensus price target of $151.07.

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.