Lennar Co. (NYSE:LEN) Shares Sold by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC cut its stake in shares of Lennar Co. (NYSE:LEN) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,750 shares of the construction company’s stock after selling 112 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Lennar were worth $784,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smead Capital Management Inc. lifted its position in Lennar by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock worth $499,991,000 after acquiring an additional 89,896 shares in the last quarter. Verition Fund Management LLC lifted its position in Lennar by 147.6% during the 3rd quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock worth $12,978,000 after acquiring an additional 41,264 shares in the last quarter. Polianta Ltd acquired a new position in Lennar during the 4th quarter worth approximately $900,000. OneDigital Investment Advisors LLC lifted its position in Lennar by 101.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 8,673 shares of the construction company’s stock worth $1,626,000 after acquiring an additional 4,363 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in Lennar by 21.4% during the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock worth $308,696,000 after purchasing an additional 397,492 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LEN. Wells Fargo & Company dropped their price objective on Lennar from $145.00 to $130.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. BTIG Research downgraded Lennar from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. UBS Group lowered their price objective on Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada lowered their price objective on Lennar from $130.00 to $125.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Finally, Wolfe Research lowered Lennar from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Fourteen equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $165.53.

Lennar Stock Up 0.8 %

Shares of Lennar stock opened at $119.00 on Tuesday. The stock’s fifty day moving average is $127.21 and its 200-day moving average is $154.87. The firm has a market capitalization of $31.60 billion, a PE ratio of 8.30, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. Lennar Co. has a 12-month low of $115.61 and a 12-month high of $187.61.

Lennar (NYSE:LEN) last announced its quarterly earnings data 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). 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 firm’s revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $4.82 earnings per share. Equities analysts anticipate that Lennar Co. will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.68%. The ex-dividend date was Wednesday, January 29th. Lennar’s dividend payout ratio is currently 13.95%.

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.