Montag A & Associates Inc. Reduces Position in Lennar Corporation $LEN

Montag A & Associates Inc. lessened its holdings in shares of Lennar Corporation (NYSE:LEN) by 95.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 503 shares of the construction company’s stock after selling 9,630 shares during the quarter. Montag A & Associates Inc.’s holdings in Lennar were worth $52,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of LEN. Guerra Advisors Inc purchased a new position in shares of Lennar during the 3rd quarter worth $25,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Lennar during the 3rd quarter worth $25,000. Redmont Wealth Advisors LLC purchased a new position in shares of Lennar during the 3rd quarter worth $26,000. High Point Wealth Management LLC purchased a new position in shares of Lennar during the 4th quarter worth $31,000. Finally, Washington Trust Advisors Inc. boosted its stake in shares of Lennar by 102.7% during the 3rd quarter. Washington Trust Advisors Inc. now owns 371 shares of the construction company’s stock worth $47,000 after acquiring an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Trading Up 2.3%

Shares of Lennar stock opened at $86.27 on Wednesday. The company has a market capitalization of $21.31 billion, a P/E ratio of 12.39, a P/E/G ratio of 1.85 and a beta of 1.41. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 4.77. The company has a fifty day moving average of $95.11 and a 200 day moving average of $109.96. Lennar Corporation has a fifty-two week low of $83.03 and a fifty-two week high of $144.24.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). The company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.90 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. The business’s revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.14 earnings per share. On average, sell-side analysts anticipate that Lennar Corporation will post 5.91 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, April 22nd. Lennar’s payout ratio is currently 28.74%.

Analyst Ratings Changes

Several brokerages have recently weighed in on LEN. Barclays dropped their price target on shares of Lennar from $85.00 to $80.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 8th. Zacks Research upgraded shares of Lennar from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Citigroup dropped their target price on shares of Lennar from $113.00 to $104.00 and set a “neutral” rating for the company in a report on Tuesday, March 17th. UBS Group dropped their target price on shares of Lennar from $122.00 to $107.00 and set a “neutral” rating for the company in a report on Monday, March 16th. Finally, Evercore dropped their target price on shares of Lennar from $89.00 to $82.00 and set an “underperform” rating for the company in a report on Monday, April 13th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and eight have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $99.87.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.