Lennar Co. (NYSE:LEN) Position Reduced by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC lowered its stake in Lennar Co. (NYSE:LEN) by 45.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,624 shares of the construction company’s stock after selling 9,030 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Lennar were worth $1,449,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of LEN. Oppenheimer & Co. Inc. raised its stake in Lennar by 2.5% during the second quarter. Oppenheimer & Co. Inc. now owns 9,722 shares of the construction company’s stock valued at $1,457,000 after buying an additional 233 shares in the last quarter. Argent Trust Co raised its position in shares of Lennar by 2.7% during the 2nd quarter. Argent Trust Co now owns 4,537 shares of the construction company’s stock valued at $680,000 after acquiring an additional 120 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Lennar by 5.9% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,763 shares of the construction company’s stock worth $564,000 after purchasing an additional 211 shares during the last quarter. Waterloo Capital L.P. increased its stake in Lennar by 8.9% during the second quarter. Waterloo Capital L.P. now owns 6,745 shares of the construction company’s stock valued at $1,011,000 after purchasing an additional 550 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co raised its holdings in shares of Lennar by 16.0% during the second quarter. Elo Mutual Pension Insurance Co now owns 20,735 shares of the construction company’s stock worth $3,108,000 after purchasing an additional 2,860 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Lennar from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Barclays cut their price target on Lennar from $181.00 to $135.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. JPMorgan Chase & Co. lowered their price objective on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. BTIG Research cut Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Finally, StockNews.com lowered shares of Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $171.50.

Lennar Stock Up 2.5 %

LEN stock opened at $138.50 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The firm has a market cap of $37.57 billion, a PE ratio of 9.17, a P/E/G ratio of 1.28 and a beta of 1.66. Lennar Co. has a 12 month low of $128.41 and a 12 month high of $193.80. The firm has a 50 day simple moving average of $154.76 and a 200 day simple moving average of $167.57.

Lennar (NYSE:LEN) last issued its earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same quarter in the previous year, the firm earned $4.82 earnings per share. The business’s revenue was down 9.3% compared to the same quarter last year. Equities research analysts forecast that Lennar Co. will post 14.11 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Wednesday, January 29th. Lennar’s dividend payout ratio is presently 13.95%.

Insider Transactions at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the transaction, the director now directly owns 23,689 shares in the company, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 9.36% of the stock is currently owned by insiders.

Lennar Company 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.