Lennar Co. (NYSE:LEN) Holdings Trimmed by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE trimmed its position in shares of Lennar Co. (NYSE:LEN - Free Report) by 24.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,998 shares of the construction company's stock after selling 5,289 shares during the period. Congress Wealth Management LLC DE's holdings in Lennar were worth $2,182,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Holocene Advisors LP bought a new stake in shares of Lennar in the third quarter worth $115,229,000. Pacer Advisors Inc. increased its position in shares of Lennar by 22.0% in the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company's stock worth $446,110,000 after purchasing an additional 589,553 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Lennar by 21.4% in the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company's stock valued at $308,696,000 after purchasing an additional 397,492 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Lennar during the fourth quarter worth about $19,364,000. Finally, Y Intercept Hong Kong Ltd grew its stake in Lennar by 2,774.5% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 123,142 shares of the construction company's stock worth $16,793,000 after purchasing an additional 118,858 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LEN. The Goldman Sachs Group cut their price objective on Lennar from $141.00 to $120.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 25th. Evercore ISI restated 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. Wells Fargo & Company lowered their target price on shares of Lennar from $130.00 to $125.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 18th. Wolfe Research downgraded shares of Lennar from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. Finally, Barclays lowered their price objective on shares of Lennar from $121.00 to $110.00 and set an "equal weight" rating for the company in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $151.07.

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Lennar Stock Performance

Lennar stock traded up $0.86 during mid-day trading on Monday, hitting $114.79. 3,378,293 shares of the company's stock traded hands, compared to its average volume of 2,483,278. Lennar Co. has a one year low of $111.26 and a one year high of $187.61. The company has a market cap of $30.48 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. The firm has a 50 day moving average price of $123.51 and a 200 day moving average price of $150.47. 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 - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.44. The business had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.57 earnings per share. On average, equities analysts forecast that Lennar Co. will post 12.48 EPS for the current year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.74%. Lennar's dividend payout ratio is presently 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.