Norden Group LLC Sells 101 Shares of Lennar Co. (NYSE:LEN)

Norden Group LLC cut its position in Lennar Co. (NYSE:LEN) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,916 shares of the construction company’s stock after selling 101 shares during the quarter. Norden Group LLC’s holdings in Lennar were worth $670,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in LEN. Stephens Inc. AR bought a new stake in shares of Lennar in the third quarter valued at $228,000. Gladstone Institutional Advisory LLC raised its stake in shares of Lennar by 5.4% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 2,899 shares of the construction company’s stock valued at $543,000 after purchasing an additional 149 shares during the period. Van ECK Associates Corp raised its stake in shares of Lennar by 10.5% during the 3rd quarter. Van ECK Associates Corp now owns 43,831 shares of the construction company’s stock valued at $7,564,000 after purchasing an additional 4,179 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of Lennar by 8.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 101,463 shares of the construction company’s stock valued at $19,022,000 after purchasing an additional 8,092 shares during the period. Finally, TKG Advisors LLC raised its stake in shares of Lennar by 70.0% during the 3rd quarter. TKG Advisors LLC now owns 2,747 shares of the construction company’s stock valued at $515,000 after purchasing an additional 1,131 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on LEN shares. BTIG Research lowered Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. The Goldman Sachs Group decreased their target price on Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, December 23rd. Bank of America decreased their target price on Lennar from $150.00 to $140.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Keefe, Bruyette & Woods decreased their target price on Lennar from $170.00 to $152.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Finally, Citigroup decreased their target price on Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Lennar has an average rating of “Hold” and a consensus price target of $163.88.

Lennar Trading Down 1.5 %

LEN opened at $117.84 on Tuesday. The business has a 50 day simple moving average of $130.30 and a two-hundred day simple moving average of $158.96. The firm has a market capitalization of $31.29 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 1.24 and a beta of 1.67. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. Lennar Co. has a one year low of $117.50 and a one year high of $187.61.

Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $10.06 billion. During the same period in the previous year, the company earned $4.82 EPS. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. Analysts predict that Lennar Co. will post 12.48 EPS for the current year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar’s dividend 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.