Picton Mahoney Asset Management Cuts Position in Lennar Co. (NYSE:LEN)

Picton Mahoney Asset Management lessened its holdings in Lennar Co. (NYSE:LEN) by 7.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 50,633 shares of the construction company’s stock after selling 4,209 shares during the quarter. Picton Mahoney Asset Management’s holdings in Lennar were worth $6,906,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Armstrong Advisory Group Inc. raised its holdings 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 stake in shares of Lennar in the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Lennar in the 4th quarter worth approximately $28,000. ORG Wealth Partners LLC bought a new stake in shares of Lennar in the 4th quarter worth approximately $32,000. Finally, Wolff Wiese Magana LLC raised its holdings in Lennar by 51.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company’s stock valued at $32,000 after acquiring an additional 79 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Stock Up 1.5 %

Shares of NYSE:LEN opened at $118.06 on Friday. Lennar Co. has a 52-week low of $115.61 and a 52-week high of $187.61. The firm has a fifty day moving average of $127.53 and a 200 day moving average of $155.48. The firm has a market capitalization of $31.35 billion, a PE ratio of 8.23, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. 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 (NYSE:LEN) last posted its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($0.12). Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $10.06 billion. During the same quarter in the previous year, the company earned $4.82 earnings per share. The business’s quarterly revenue was down 9.3% on a year-over-year basis. As a group, research analysts anticipate that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 annualized dividend and a yield of 1.69%. Lennar’s payout ratio is 13.95%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LEN shares. Wolfe Research cut shares of Lennar from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Wedbush reissued a “neutral” rating and set a $164.00 target price on shares of Lennar in a report on Thursday, December 19th. Barclays lowered their target price on shares of Lennar from $135.00 to $121.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. BTIG Research cut shares of Lennar from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, Citigroup lowered their target price on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Fourteen investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lennar has a consensus rating of “Hold” and a consensus target price of $165.93.

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.