Tidal Investments LLC Trims Holdings in Lennar Co. (NYSE:LEN)

Tidal Investments LLC trimmed its position in Lennar Co. (NYSE:LEN) by 24.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,547 shares of the construction company’s stock after selling 2,064 shares during the quarter. Tidal Investments LLC’s holdings in Lennar were worth $893,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Howard Capital Management Inc. grew its holdings in Lennar by 0.3% during the 4th quarter. Howard Capital Management Inc. now owns 28,836 shares of the construction company’s stock valued at $3,932,000 after buying an additional 81 shares in the last quarter. Greenleaf Trust grew its holdings in Lennar by 1.9% during the 4th quarter. Greenleaf Trust now owns 5,220 shares of the construction company’s stock valued at $712,000 after buying an additional 95 shares in the last quarter. Lake Street Advisors Group LLC grew its holdings in Lennar by 3.1% during the 4th quarter. Lake Street Advisors Group LLC now owns 3,201 shares of the construction company’s stock valued at $436,000 after buying an additional 96 shares in the last quarter. Horizon Investments LLC grew its holdings in Lennar by 2.1% during the 4th quarter. Horizon Investments LLC now owns 4,818 shares of the construction company’s stock valued at $629,000 after buying an additional 98 shares in the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its holdings in Lennar by 9.1% during the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 1,200 shares of the construction company’s stock valued at $164,000 after buying an additional 100 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Stock Down 0.2%

Shares of LEN opened at $105.12 on Tuesday. The company has a market cap of $27.73 billion, a PE ratio of 7.33, a P/E/G ratio of 1.24 and a beta of 1.41. The business has a fifty day moving average of $109.30 and a 200 day moving average of $129.33. Lennar Co. has a 52-week low of $98.42 and a 52-week 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.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same period last year, the company earned $2.57 earnings per share. Lennar’s revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts expect that Lennar Co. will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were paid a $0.50 dividend. The ex-dividend date was Wednesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.90%. Lennar’s payout ratio is 14.57%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LEN. Royal Bank of Canada cut their price objective on shares of Lennar from $125.00 to $122.00 and set a “sector perform” rating for the company in a report on Monday, March 24th. Wall Street Zen upgraded Lennar from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Wedbush reiterated a “neutral” rating and set a $158.00 target price on shares of Lennar in a research report on Monday, March 17th. Keefe, Bruyette & Woods lowered their target price on Lennar from $141.00 to $128.00 and set a “market perform” rating for the company in a research report on Tuesday, March 25th. Finally, Barclays lowered their target price on Lennar from $121.00 to $110.00 and set an “equal weight” rating for the company in a research report on Monday, March 24th. Fifteen analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lennar has an average rating of “Hold” and an average target price of $150.07.

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.