Cetera Investment Advisers Sells 108 Shares of Lennar Co. (NYSE:LEN)

Cetera Investment Advisers trimmed its holdings in Lennar Co. (NYSE:LEN) by 0.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,326 shares of the construction company’s stock after selling 108 shares during the quarter. Cetera Investment Advisers’ holdings in Lennar were worth $4,272,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LEN. Czech National Bank raised its holdings in shares of Lennar by 5.2% during the 4th quarter. Czech National Bank now owns 51,779 shares of the construction company’s stock worth $7,061,000 after acquiring an additional 2,542 shares in the last quarter. FNY Investment Advisers LLC raised its holdings in shares of Lennar by 220.6% during the 4th quarter. FNY Investment Advisers LLC now owns 1,090 shares of the construction company’s stock worth $148,000 after acquiring an additional 750 shares in the last quarter. Accurate Wealth Management LLC raised its holdings in shares of Lennar by 80.6% during the 4th quarter. Accurate Wealth Management LLC now owns 4,806 shares of the construction company’s stock worth $623,000 after acquiring an additional 2,145 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Lennar by 4.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 226,081 shares of the construction company’s stock worth $30,831,000 after acquiring an additional 9,714 shares in the last quarter. Finally, Wolff Wiese Magana LLC raised its holdings in shares of Lennar by 51.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company’s stock worth $32,000 after acquiring an additional 79 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LEN has been the topic of several recent research reports. Royal Bank of Canada decreased their price target on Lennar from $125.00 to $122.00 and set a “sector perform” rating on the stock in a report on Monday, March 24th. Barclays decreased their price target on Lennar from $121.00 to $110.00 and set an “equal weight” rating on the stock in a report on Monday, March 24th. Bank of America decreased their price target on Lennar from $140.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. Wells Fargo & Company decreased their price target on Lennar from $120.00 to $110.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Finally, UBS Group reduced their target price on Lennar from $183.00 to $164.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Fifteen equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lennar currently has an average rating of “Hold” and an average target price of $150.07.

Lennar Price Performance

LEN opened at $108.69 on Thursday. Lennar Co. has a 12-month low of $98.42 and a 12-month high of $187.61. 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 business’s fifty day simple moving average is $111.19 and its 200-day simple moving average is $133.44. The company has a market capitalization of $28.67 billion, a price-to-earnings ratio of 7.58, a PEG ratio of 1.24 and a beta of 1.41.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter last year, the company earned $2.57 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities research analysts anticipate that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Wednesday, April 23rd. Lennar’s payout ratio is currently 14.57%.

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.