Golden State Wealth Management LLC Invests $148,000 in Lennar Co. (NYSE:LEN)

Golden State Wealth Management LLC purchased a new position in shares of Lennar Co. (NYSE:LEN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,085 shares of the construction company’s stock, valued at approximately $148,000.

A number of other institutional investors and hedge funds have also bought and sold shares of LEN. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Lennar by 51.8% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 26,382 shares of the construction company’s stock valued at $3,597,000 after acquiring an additional 9,000 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Lennar by 2.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,695 shares of the construction company’s stock worth $3,640,000 after purchasing an additional 559 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in Lennar during the 4th quarter valued at $4,015,000. Measured Wealth Private Client Group LLC lifted its position in shares of Lennar by 6.1% during the fourth quarter. Measured Wealth Private Client Group LLC now owns 3,797 shares of the construction company’s stock worth $518,000 after acquiring an additional 219 shares in the last quarter. Finally, Choreo LLC grew its position in shares of Lennar by 3.3% in the fourth quarter. Choreo LLC now owns 8,888 shares of the construction company’s stock valued at $1,211,000 after purchasing an additional 281 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LEN has been the subject of several analyst reports. Royal Bank of Canada cut their target price on Lennar from $130.00 to $125.00 and set a “sector perform” rating for the company in a research note on Thursday. Barclays reduced their price objective on shares of Lennar from $135.00 to $121.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. BTIG Research cut shares of Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. UBS Group reduced their price target on shares of Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods lowered their price objective on Lennar from $210.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. One investment 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 MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $167.19.

Lennar Stock Performance

Lennar stock opened at $121.95 on Monday. The firm has a fifty day simple moving average of $141.34 and a two-hundred day simple moving average of $164.69. Lennar Co. has a twelve month low of $121.40 and a twelve month high of $193.80. The company has a market capitalization of $32.38 billion, a PE ratio of 8.50, a P/E/G ratio of 1.28 and a beta of 1.67. 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 (NYSE:LEN) last posted its quarterly earnings results 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). Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $10.06 billion. During the same quarter in the previous year, the business earned $4.82 earnings per share. Lennar’s revenue was down 9.3% compared to the same quarter last year. Research analysts expect that Lennar Co. will post 12.52 EPS for the current year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, January 29th. This represents a $2.00 annualized dividend and a yield of 1.64%. Lennar’s payout ratio is currently 13.95%.

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.