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

Norden Group LLC lessened its stake in shares of Lennar Co. (NYSE:LEN) by 2.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,916 shares of the construction company’s stock after selling 101 shares during the period. Norden Group LLC’s holdings in Lennar were worth $670,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. increased its position in Lennar by 69.4% during 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 in the last quarter. Crews Bank & Trust bought a new position in Lennar during the 4th quarter valued at approximately $25,000. ORG Wealth Partners LLC bought a new position in Lennar during the 4th quarter valued at approximately $32,000. Wolff Wiese Magana LLC increased its position 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 buying an additional 79 shares in the last quarter. Finally, Legacy Investment Solutions LLC bought a new position in Lennar during the 3rd quarter valued at approximately $39,000. Institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

NYSE LEN opened at $117.84 on Tuesday. The company has a market capitalization of $31.29 billion, a PE ratio of 8.22, a price-to-earnings-growth ratio of 1.24 and a beta of 1.67. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. The business’s fifty day moving average is $130.30 and its 200 day moving average is $158.96. Lennar Co. has a fifty-two week low of $117.50 and a fifty-two week high of $187.61.

Lennar (NYSE:LEN) last released its 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 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%. Lennar’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.82 earnings per share. Sell-side analysts predict that Lennar Co. will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.70%. Lennar’s dividend payout ratio is presently 13.95%.

Analysts Set New Price Targets

Several brokerages have commented on LEN. Bank of America cut 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. Wolfe Research downgraded Lennar from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Wedbush reiterated a “neutral” rating and set a $164.00 target price on shares of Lennar in a research note on Thursday, December 19th. BTIG Research downgraded Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Finally, Royal Bank of Canada cut their target price on Lennar from $130.00 to $125.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $163.88.

Lennar 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.