Perigon Wealth Management LLC Trims Stock Position in Lennar Co. (NYSE:LEN)

Perigon Wealth Management LLC lessened its holdings in shares of Lennar Co. (NYSE:LEN – Get Rating) by 12.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,905 shares of the construction company’s stock after selling 726 shares during the period. Perigon Wealth Management LLC’s holdings in Lennar were worth $366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CVA Family Office LLC grew its position in Lennar by 82.2% during the third quarter. CVA Family Office LLC now owns 820 shares of the construction company’s stock valued at $61,000 after buying an additional 370 shares during the period. B. Riley Wealth Advisors Inc. grew its position in Lennar by 50.1% during the third quarter. B. Riley Wealth Advisors Inc. now owns 12,105 shares of the construction company’s stock valued at $903,000 after buying an additional 4,041 shares during the period. Industrial Alliance Investment Management Inc. grew its position in Lennar by 2.2% during the third quarter. Industrial Alliance Investment Management Inc. now owns 6,730 shares of the construction company’s stock valued at $502,000 after buying an additional 146 shares during the period. Advisors Capital Management LLC grew its position in Lennar by 0.4% during the third quarter. Advisors Capital Management LLC now owns 58,916 shares of the construction company’s stock valued at $5,052,000 after buying an additional 239 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its position in Lennar by 3.4% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,138 shares of the construction company’s stock valued at $681,000 after buying an additional 302 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Oppenheimer assumed coverage on shares of Lennar in a research report on Wednesday, March 1st. They set a “market perform” rating on the stock. StockNews.com assumed coverage on shares of Lennar in a research report on Thursday. They issued a “buy” rating on the stock. Royal Bank of Canada lifted their target price on shares of Lennar from $76.00 to $85.00 and gave the company an “underperform” rating in a research report on Friday. BTIG Research lifted their target price on shares of Lennar from $116.00 to $120.00 in a research report on Thursday. Finally, UBS Group lifted their target price on shares of Lennar from $117.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Lennar currently has a consensus rating of “Hold” and an average price target of $102.07.

Lennar Price Performance

Shares of LEN stock opened at $103.50 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.82 and a quick ratio of 1.48. The firm’s 50-day moving average is $99.53 and its two-hundred day moving average is $88.47. Lennar Co. has a 12 month low of $62.54 and a 12 month high of $109.28. The company has a market capitalization of $29.98 billion, a PE ratio of 6.42, a price-to-earnings-growth ratio of 1.84 and a beta of 1.42.

Lennar (NYSE:LEN – Get Rating) last issued its earnings results on Wednesday, March 15th. The construction company reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.56. Lennar had a net margin of 13.86% and a return on equity of 21.18%. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $5.99 billion. During the same period in the previous year, the firm earned $2.70 earnings per share. Lennar’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts predict that Lennar Co. will post 9.05 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 10th. Stockholders of record on Friday, January 27th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Thursday, January 26th. Lennar’s dividend payout ratio (DPR) is 9.30%.

Lennar Profile

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Lennar Corp. engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Central, Texas, and West, Financial Services, Multifamily, and Lennar Other. The Homebuilding East, Central, Texas, and West segment constructs and sells homes primarily for first-time, move-up, and active adult homebuyers primarily under the Lennar brand name.