Turtle Creek Wealth Advisors LLC Sells 5,215 Shares of Lennar Co. (NYSE:LEN)

Turtle Creek Wealth Advisors LLC decreased its position in Lennar Co. (NYSE:LEN - Free Report) by 13.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,684 shares of the construction company's stock after selling 5,215 shares during the period. Turtle Creek Wealth Advisors LLC's holdings in Lennar were worth $4,593,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LEN. Moors & Cabot Inc. boosted its stake in shares of Lennar by 2.2% in the 3rd quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company's stock valued at $577,000 after purchasing an additional 66 shares during the last quarter. Centaurus Financial Inc. grew its holdings in Lennar by 2.5% during the 3rd quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company's stock worth $551,000 after acquiring an additional 71 shares during the period. Commerce Bank raised its position in shares of Lennar by 0.5% during the 3rd quarter. Commerce Bank now owns 15,074 shares of the construction company's stock valued at $2,826,000 after acquiring an additional 74 shares during the last quarter. Jupiter Wealth Management LLC boosted its position in shares of Lennar by 1.0% in the 3rd quarter. Jupiter Wealth Management LLC now owns 7,667 shares of the construction company's stock worth $1,437,000 after purchasing an additional 75 shares during the last quarter. Finally, Armstrong Advisory Group Inc. grew its stake in shares of Lennar by 69.4% during the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company's stock worth $25,000 after purchasing an additional 75 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. The Goldman Sachs Group cut their price target on shares of Lennar from $190.00 to $162.00 and set a "neutral" rating on the stock in a research report on Monday, December 23rd. Keefe, Bruyette & Woods reduced their price target on shares of Lennar from $210.00 to $170.00 and set an "outperform" rating on the stock in a research report on Friday, December 20th. Wedbush restated a "neutral" rating and issued a $164.00 price objective on shares of Lennar in a research report on Thursday, December 19th. Wolfe Research lowered Lennar from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. Finally, Royal Bank of Canada raised Lennar from an "underperform" rating to a "sector perform" rating and set a $130.00 price target on the stock in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Lennar currently has a consensus rating of "Hold" and a consensus price target of $167.50.

Lennar Stock Performance

NYSE LEN traded up $2.17 on Tuesday, hitting $128.36. 3,040,240 shares of the stock were exchanged, compared to its average volume of 3,530,277. The business's fifty day moving average is $145.16 and its 200 day moving average is $165.93. Lennar Co. has a 52 week low of $125.21 and a 52 week high of $193.80. The company has a market capitalization of $34.08 billion, a PE ratio of 8.95, a P/E/G ratio of 1.32 and a beta of 1.67. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06.

Lennar (NYSE:LEN - Get Free Report) last issued its 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). The firm had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company's revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter last year, the business posted $4.82 earnings per share. Research analysts anticipate that Lennar Co. will post 12.52 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Wednesday, January 29th. Lennar's payout ratio is presently 13.95%.

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.