Cornerstone Wealth Management LLC lifted its position in shares of Lennar Co. (NYSE:LEN – Free Report) by 36.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,890 shares of the construction company’s stock after buying an additional 501 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Lennar were worth $258,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. Armstrong Advisory Group Inc. raised its holdings in Lennar by 69.4% in the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after acquiring an additional 75 shares during the last quarter. Oakworth Capital Inc. acquired a new position in Lennar in the third quarter valued at $27,000. Wolff Wiese Magana LLC lifted its position in Lennar by 933.3% during the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after buying an additional 140 shares during the period. GHP Investment Advisors Inc. acquired a new stake in Lennar in the 3rd quarter worth about $30,000. Finally, Asset Dedication LLC grew its holdings in Lennar by 4,225.0% in the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after buying an additional 169 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on LEN. 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 report on Monday, December 23rd. UBS Group lowered their price objective on shares of Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. BTIG Research lowered Lennar from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. lowered their price target on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Finally, Barclays cut their price objective on Lennar from $181.00 to $135.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Lennar has an average rating of “Hold” and an average target price of $171.50.
Lennar Stock Down 1.6 %
Shares of Lennar stock opened at $132.40 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. Lennar Co. has a 1-year low of $128.41 and a 1-year high of $193.80. The business has a 50-day moving average of $149.60 and a 200-day moving average of $167.06. The company has a market capitalization of $35.91 billion, a PE ratio of 9.23, a P/E/G ratio of 1.32 and a beta of 1.66.
Lennar (NYSE:LEN – Get Free Report) last posted its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($0.12). The business had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $10.06 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. Lennar’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.82 earnings per share. As a group, equities analysts forecast that Lennar Co. will post 13.02 EPS for the current fiscal year.
Lennar Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.51%. The ex-dividend date is Wednesday, January 29th. Lennar’s dividend payout ratio is currently 13.95%.
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.
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