Affinity Investment Advisors LLC trimmed its holdings in Lennar Co. (NYSE:LEN) by 66.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,965 shares of the construction company’s stock after selling 121,536 shares during the quarter. Affinity Investment Advisors LLC’s holdings in Lennar were worth $2,426,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. NuWave Investment Management LLC bought a new stake in shares of Lennar in the fourth quarter valued at approximately $51,000. SeaBridge Investment Advisors LLC boosted its position in shares of Lennar by 277.8% in the fourth quarter. SeaBridge Investment Advisors LLC now owns 1,360 shares of the construction company’s stock valued at $53,000 after acquiring an additional 1,000 shares during the period. Dubuque Bank & Trust Co. bought a new stake in shares of Lennar in the fourth quarter valued at approximately $55,000. Worth Venture Partners LLC bought a new stake in shares of Lennar in the third quarter valued at approximately $106,000. Finally, D.A. Davidson & CO. bought a new stake in shares of Lennar in the third quarter valued at approximately $206,000. 87.62% of the stock is owned by institutional investors.
Several research analysts recently commented on LEN shares. Credit Suisse Group reaffirmed a “neutral” rating and issued a $45.00 target price (down from $55.00) on shares of Lennar in a research report on Wednesday, October 17th. Mizuho set a $60.00 target price on Lennar and gave the stock a “buy” rating in a research report on Wednesday, October 17th. Deutsche Bank raised Lennar from a “hold” rating to a “buy” rating and reduced their target price for the stock from $58.00 to $51.00 in a research report on Monday, October 22nd. TheStreet cut Lennar from a “b-” rating to a “c+” rating in a research report on Tuesday, October 23rd. Finally, Wedbush raised Lennar from a “neutral” rating to an “outperform” rating and reduced their target price for the stock from $56.00 to $50.00 in a research report on Monday, October 29th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating to the company. Lennar has an average rating of “Buy” and a consensus price target of $59.00.
In other Lennar news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $40.03, for a total transaction of $800,600.00. Following the completion of the transaction, the chief operating officer now directly owns 171,014 shares of the company’s stock, valued at $6,845,690.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by company insiders.
Shares of NYSE LEN opened at $45.99 on Tuesday. The firm has a market cap of $14.92 billion, a price-to-earnings ratio of 7.24, a P/E/G ratio of 0.55 and a beta of 1.35. Lennar Co. has a 52-week low of $37.29 and a 52-week high of $64.90. The company has a debt-to-equity ratio of 0.58, a current ratio of 11.48 and a quick ratio of 1.12.
Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, January 9th. The construction company reported $1.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.05. The company had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.46 billion. Lennar had a return on equity of 13.76% and a net margin of 8.24%. The business’s revenue was up 70.7% on a year-over-year basis. During the same period last year, the business earned $1.29 earnings per share. As a group, sell-side analysts predict that Lennar Co. will post 6.02 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 8th. Shareholders of record on Friday, January 25th were issued a dividend of $0.04 per share. The ex-dividend date was Thursday, January 24th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.35%. Lennar’s payout ratio is presently 2.52%.
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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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.
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