Golden State Equity Partners Sells 522 Shares of Lennar Co. (NYSE:LEN)

Golden State Equity Partners trimmed its position in shares of Lennar Co. (NYSE:LEN) by 11.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,914 shares of the construction company’s stock after selling 522 shares during the quarter. Golden State Equity Partners’ holdings in Lennar were worth $534,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. boosted its position in Lennar by 69.4% in the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after buying an additional 75 shares during the period. Crews Bank & Trust purchased a new stake in Lennar during the fourth quarter valued at approximately $25,000. Oakworth Capital Inc. purchased a new stake in Lennar during the third quarter valued at approximately $27,000. Wolff Wiese Magana LLC increased its stake in Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. Finally, GHP Investment Advisors Inc. acquired a new position in Lennar during the 3rd quarter valued at approximately $30,000. 81.10% of the stock is currently owned by institutional investors.

Lennar Stock Performance

LEN opened at $131.25 on Monday. 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 company has a market cap of $35.60 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 1.33 and a beta of 1.66. Lennar Co. has a 52-week low of $128.41 and a 52-week high of $193.80. The firm’s fifty day simple moving average is $146.21 and its two-hundred day simple moving average is $166.24.

Lennar (NYSE:LEN) last posted its quarterly earnings results 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 business had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $10.06 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $4.82 earnings per share. Equities analysts anticipate that Lennar Co. will post 12.52 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Wednesday, January 29th. Lennar’s dividend payout ratio is currently 13.95%.

Analysts Set New Price Targets

A number of research analysts have issued reports on LEN shares. Bank of America cut their price target on shares of Lennar from $150.00 to $140.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Wedbush restated a “neutral” rating and set a $164.00 price target on shares of Lennar in a research note on Thursday, December 19th. The Goldman Sachs Group cut their price target on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, December 23rd. JPMorgan Chase & Co. cut their price objective on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Finally, Royal Bank of Canada upgraded shares of Lennar from an “underperform” rating to a “sector perform” rating and set a $130.00 price objective on the stock in a research note on Friday, January 10th. One investment 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. According to data from MarketBeat.com, Lennar currently has an average rating of “Hold” and a consensus price target of $167.50.

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, 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.