Perigon Wealth Management LLC Acquires 3,444 Shares of Lennar Co. (NYSE:LEN)

Perigon Wealth Management LLC lifted its holdings in shares of Lennar Co. (NYSE:LEN) by 126.5% during the fourth quarter, HoldingsChannel reports. The firm owned 6,167 shares of the construction company’s stock after purchasing an additional 3,444 shares during the quarter. Perigon Wealth Management LLC’s holdings in Lennar were worth $868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Clearbridge Investments LLC boosted its stake in Lennar by 21.1% in the second quarter. Clearbridge Investments LLC now owns 165,931 shares of the construction company’s stock valued at $24,868,000 after acquiring an additional 28,938 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Lennar in the second quarter valued at approximately $6,069,000. Centaurus Financial Inc. grew its holdings in Lennar by 5.5% during the second quarter. Centaurus Financial Inc. now owns 2,866 shares of the construction company’s stock valued at $430,000 after purchasing an additional 149 shares during the period. IMPACTfolio LLC purchased a new stake in Lennar in the third quarter worth $209,000. Finally, Abacus Planning Group Inc. lifted its position in shares of Lennar by 4.9% during the 3rd quarter. Abacus Planning Group Inc. now owns 13,263 shares of the construction company’s stock valued at $2,487,000 after buying an additional 624 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LEN. Wolfe Research lowered Lennar from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Wells Fargo & Company lowered their price target on shares of Lennar from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Bank of America cut their price objective on shares of Lennar from $150.00 to $140.00 and set a “neutral” rating for the company in a report on Monday. Wedbush reissued a “neutral” rating and set a $164.00 target price on shares of Lennar in a report on Thursday, December 19th. Finally, Barclays cut their price target on Lennar from $181.00 to $135.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $168.38.

Lennar Trading Up 2.3 %

Shares of LEN opened at $135.22 on Friday. Lennar Co. has a 1-year low of $128.41 and a 1-year high of $193.80. The company has a market capitalization of $36.68 billion, a P/E ratio of 9.43, a P/E/G ratio of 1.32 and a beta of 1.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The firm’s 50 day simple moving average is $147.63 and its 200 day simple moving average is $166.67.

Lennar (NYSE:LEN) last posted its quarterly earnings data 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 company had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $10.06 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $4.82 EPS. Sell-side analysts forecast that Lennar Co. will post 13.02 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Wednesday, January 29th. Lennar’s payout ratio is currently 13.95%.

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.