Lennar Co. (NYSE:LEN) Position Lessened by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC trimmed its position in shares of Lennar Co. (NYSE:LEN) by 13.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,684 shares of the construction company’s stock after selling 5,215 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Lennar were worth $4,593,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oakworth Capital Inc. purchased a new stake in shares of Lennar during the third quarter worth $27,000. Wolff Wiese Magana LLC raised its holdings in Lennar by 933.3% during the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after buying an additional 140 shares in the last quarter. GHP Investment Advisors Inc. bought a new position in Lennar during the third quarter valued at about $30,000. Asset Dedication LLC raised its holdings in Lennar by 4,225.0% during the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after buying an additional 169 shares in the last quarter. Finally, Crews Bank & Trust bought a new position in Lennar during the fourth quarter valued at about $25,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on LEN shares. The Goldman Sachs Group cut their target price on Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, December 23rd. Wells Fargo & Company cut their target price on Lennar from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Keefe, Bruyette & Woods cut their target price on Lennar from $210.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. BTIG Research lowered Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Finally, Citigroup dropped their price objective 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 given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lennar currently has a consensus rating of “Hold” and an average price target of $167.50.

Lennar Stock Up 2.3 %

NYSE LEN opened at $135.22 on Friday. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average is $146.97 and its two-hundred day moving average is $166.46. The company has a market capitalization of $36.68 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 1.33 and a beta of 1.66. Lennar Co. has a 1-year low of $128.41 and a 1-year high of $193.80.

Lennar (NYSE:LEN) last released its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). The company had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.82 earnings per share. Equities analysts forecast that Lennar Co. will post 12.52 earnings per share for the current fiscal year.

Lennar Dividend Announcement

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