Sherbrooke Park Advisers LLC Decreases Holdings in Lennar Co. (NYSE:LEN)

Sherbrooke Park Advisers LLC lessened its stake in Lennar Co. (NYSE:LEN) by 57.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,266 shares of the construction company’s stock after selling 8,290 shares during the period. Sherbrooke Park Advisers LLC’s holdings in Lennar were worth $854,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. grew its position in 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 buying an additional 75 shares during the last quarter. Crews Bank & Trust bought a new position in shares of Lennar during the fourth quarter worth $25,000. Hurley Capital LLC bought a new position in shares of Lennar during the fourth quarter worth $26,000. SBI Securities Co. Ltd. bought a new position in Lennar during the fourth quarter valued at $28,000. Finally, Itau Unibanco Holding S.A. lifted its position in Lennar by 611.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 299 shares of the construction company’s stock valued at $41,000 after purchasing an additional 257 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LEN shares. Royal Bank of Canada lowered their price objective on shares of Lennar from $125.00 to $122.00 and set a “sector perform” rating for the company in a research report on Monday, March 24th. Wells Fargo & Company decreased their target price on Lennar from $120.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 9th. The Goldman Sachs Group lowered their price target on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. Wedbush reissued a “neutral” rating and issued a $158.00 target price on shares of Lennar in a research note on Monday, March 17th. Finally, Keefe, Bruyette & Woods reduced their target price on Lennar from $141.00 to $128.00 and set a “market perform” rating for the company in a report on Tuesday, March 25th. Fifteen research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $150.07.

Lennar Stock Performance

Shares of LEN stock opened at $110.15 on Friday. The business’s fifty day simple moving average is $110.89 and its 200-day simple moving average is $133.00. The company has a market cap of $29.06 billion, a PE ratio of 7.68, a PEG ratio of 1.24 and a beta of 1.41. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. Lennar Co. has a 12-month low of $98.42 and a 12-month high of $187.61.

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

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were issued 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 1.82%. Lennar’s payout ratio is 14.57%.

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.