American Money Management LLC Lowers Holdings in Lennar Co. (NYSE:LEN)

American Money Management LLC reduced its position in shares of Lennar Co. (NYSE:LEN) by 22.6% in the fourth quarter, Holdings Channel reports. The firm owned 3,904 shares of the construction company’s stock after selling 1,137 shares during the period. American Money Management LLC’s holdings in Lennar were worth $532,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Verition Fund Management LLC increased its stake in Lennar by 147.6% in the 3rd quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock worth $12,978,000 after acquiring an additional 41,264 shares during the last quarter. Polianta Ltd purchased a new position in shares of Lennar during the fourth quarter worth about $900,000. Nordea Investment Management AB increased its position in shares of Lennar by 21.4% in the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock worth $308,696,000 after purchasing an additional 397,492 shares during the last quarter. Kovitz Investment Group Partners LLC raised its stake in Lennar by 71.7% in the third quarter. Kovitz Investment Group Partners LLC now owns 14,327 shares of the construction company’s stock valued at $2,686,000 after purchasing an additional 5,981 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in Lennar by 22.0% in the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock worth $446,110,000 after buying an additional 589,553 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

LEN has been the topic of several research reports. Citigroup lowered their price objective on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Wedbush reiterated a “neutral” rating and issued a $158.00 price objective on shares of Lennar in a report on Monday, March 17th. Keefe, Bruyette & Woods decreased their price objective on Lennar from $141.00 to $128.00 and set a “market perform” rating on the stock in a report on Tuesday, March 25th. Barclays cut their target price on Lennar from $121.00 to $110.00 and set an “equal weight” rating for the company in a research note on Monday, March 24th. Finally, Bank of America lowered their price objective on shares of Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Lennar currently has an average rating of “Hold” and a consensus target price of $151.07.

Lennar Price Performance

Shares of LEN stock opened at $113.83 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. The business’s 50 day moving average price is $124.05 and its 200-day moving average price is $151.13. The firm has a market cap of $30.22 billion, a P/E ratio of 7.94, a P/E/G ratio of 1.24 and a beta of 1.69. Lennar Co. has a fifty-two week low of $111.26 and a fifty-two week high of $187.61.

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

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.76%. Lennar’s payout ratio is 14.57%.

Lennar 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.