Lennar Co. (NYSE:LEN) Shares Sold by Cercano Management LLC

Cercano Management LLC reduced its holdings in Lennar Co. (NYSE:LEN) by 44.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 395,605 shares of the construction company’s stock after selling 320,488 shares during the period. Lennar comprises 1.4% of Cercano Management LLC’s holdings, making the stock its 20th largest position. Cercano Management LLC owned about 0.15% of Lennar worth $53,949,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Armstrong Advisory Group Inc. boosted its stake in shares of Lennar by 69.4% in the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after acquiring an additional 75 shares during the last quarter. Crews Bank & Trust acquired a new stake in shares of Lennar in the fourth quarter valued at about $25,000. Hurley Capital LLC acquired a new position in Lennar during the fourth quarter worth about $26,000. SBI Securities Co. Ltd. purchased a new stake in Lennar during the 4th quarter valued at about $28,000. Finally, ORG Wealth Partners LLC acquired a new stake in Lennar in the 4th quarter valued at about $32,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Trading Down 1.0 %

Shares of LEN stock opened at $109.11 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. Lennar Co. has a fifty-two week low of $98.42 and a fifty-two week high of $187.61. The stock has a market capitalization of $28.78 billion, a P/E ratio of 7.61, a price-to-earnings-growth ratio of 1.24 and a beta of 1.41. The company has a 50 day moving average price of $112.89 and a 200 day moving average price of $136.08.

Lennar (NYSE:LEN) last released its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.44. The firm had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. Lennar’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the business posted $2.57 earnings per share. Equities research analysts predict that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $2.00 annualized dividend and a yield of 1.83%. Lennar’s dividend payout ratio is currently 14.57%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LEN shares. Royal Bank of Canada reduced their price objective on Lennar from $125.00 to $122.00 and set a “sector perform” rating on the stock in a research report on Monday, March 24th. UBS Group cut their price objective on shares of Lennar from $183.00 to $164.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Evercore ISI reiterated an “in-line” rating and issued a $131.00 target price (down from $159.00) on shares of Lennar in a report on Monday, March 24th. Seaport Res Ptn raised shares of Lennar from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group lowered their price objective on Lennar from $141.00 to $120.00 and set a “neutral” rating for the company in a research report on Tuesday, March 25th. Fifteen analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $150.07.

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.