Lennar Co. (NYSE:LEN) Shares Sold by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC cut its position in shares of Lennar Co. (NYSE:LEN) by 3.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,146 shares of the construction company’s stock after selling 171 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Lennar were worth $702,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Polianta Ltd acquired a new position in shares of Lennar during the 4th quarter valued at $900,000. Pacer Advisors Inc. boosted its stake in shares of Lennar by 22.0% during the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock worth $446,110,000 after acquiring an additional 589,553 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Lennar by 51.8% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 26,382 shares of the construction company’s stock worth $3,597,000 after acquiring an additional 9,000 shares in the last quarter. Clear Harbor Asset Management LLC boosted its stake in shares of Lennar by 25.0% during the 4th quarter. Clear Harbor Asset Management LLC now owns 16,501 shares of the construction company’s stock worth $2,250,000 after acquiring an additional 3,303 shares in the last quarter. Finally, Swedbank AB boosted its stake in shares of Lennar by 1.5% during the 4th quarter. Swedbank AB now owns 167,182 shares of the construction company’s stock worth $22,799,000 after acquiring an additional 2,473 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods reduced their price objective on Lennar from $141.00 to $128.00 and set a “market perform” rating for the company in a research note on Tuesday, March 25th. Evercore ISI reissued an “in-line” rating and set a $131.00 price objective (down from $159.00) on shares of Lennar in a research note on Monday, March 24th. Seaport Res Ptn raised Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. StockNews.com raised Lennar from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $158.00 target price on shares of Lennar in a research report on Monday, March 17th. Fifteen equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Lennar currently has an average rating of “Hold” and an average target price of $150.07.

Lennar Price Performance

Shares of NYSE:LEN opened at $108.69 on Thursday. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. Lennar Co. has a 1 year low of $98.42 and a 1 year high of $187.61. The business has a fifty day simple moving average of $111.19 and a 200 day simple moving average of $133.44. The firm has a market cap of $28.67 billion, a price-to-earnings ratio of 7.58, a P/E/G ratio of 1.24 and a beta of 1.41.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.44 billion. During the same period last year, the company earned $2.57 earnings per share. Lennar’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts predict that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $2.00 annualized dividend and a yield of 1.84%. Lennar’s dividend payout ratio (DPR) is currently 14.57%.

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.