Oppenheimer Asset Management Inc. Sells 2,083 Shares of Lennar Co. (NYSE:LEN)

Oppenheimer Asset Management Inc. trimmed its position in shares of Lennar Co. (NYSE:LEN) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,512 shares of the construction company’s stock after selling 2,083 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Lennar were worth $28,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Armstrong Advisory Group Inc. lifted its stake in shares of Lennar by 69.4% in the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after purchasing an additional 75 shares during the period. Crews Bank & Trust bought a new position in shares of Lennar during the 4th quarter valued at approximately $25,000. ORG Wealth Partners LLC purchased a new stake in Lennar in the 4th quarter worth approximately $32,000. Wolff Wiese Magana LLC lifted its holdings in Lennar by 51.0% during the fourth quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company’s stock valued at $32,000 after purchasing an additional 79 shares in the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Lennar in the third quarter worth $39,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on LEN shares. Wedbush reissued a “neutral” rating and set a $164.00 price target on shares of Lennar in a report on Thursday, December 19th. Royal Bank of Canada cut their price objective on shares of Lennar from $130.00 to $125.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. JPMorgan Chase & Co. dropped their target price on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Barclays dropped their price objective on shares of Lennar from $135.00 to $121.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Finally, Bank of America dropped their price target on Lennar from $150.00 to $140.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $163.88.

Lennar Stock Down 2.3 %

Shares of NYSE:LEN opened at $121.51 on Thursday. 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 business’s 50 day moving average is $131.43 and its 200 day moving average is $160.08. The stock has a market cap of $32.26 billion, a P/E ratio of 8.47, a price-to-earnings-growth ratio of 1.24 and a beta of 1.67. Lennar Co. has a 52-week low of $117.90 and a 52-week high of $193.80.

Lennar (NYSE:LEN) last released its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing the consensus estimate of $4.15 by ($0.12). The firm had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $10.06 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business’s revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.82 earnings per share. Sell-side analysts predict that Lennar Co. will post 12.48 EPS for the current year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Wednesday, January 29th. Lennar’s payout ratio is 13.95%.

About Lennar

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.