Perigon Wealth Management LLC Has $868,000 Position in Lennar Co. (NYSE:LEN)

Perigon Wealth Management LLC boosted its holdings in shares of Lennar Co. (NYSE:LEN - Free Report) by 126.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,167 shares of the construction company's stock after buying an additional 3,444 shares during the period. Perigon Wealth Management LLC's holdings in Lennar were worth $868,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its stake in Lennar by 1.3% in the third quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company's stock valued at $1,106,798,000 after acquiring an additional 73,638 shares during the period. Pacer Advisors Inc. boosted its holdings in Lennar by 22.0% during the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company's stock valued at $446,110,000 after purchasing an additional 589,553 shares in the last quarter. Smead Capital Management Inc. grew its stake in shares of Lennar by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company's stock valued at $499,991,000 after purchasing an additional 89,896 shares during the period. Nordea Investment Management AB lifted its position in shares of Lennar by 21.4% during the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company's stock worth $308,696,000 after buying an additional 397,492 shares during the period. Finally, Bamco Inc. NY boosted its stake in Lennar by 2.6% in the 3rd quarter. Bamco Inc. NY now owns 711,023 shares of the construction company's stock valued at $133,303,000 after buying an additional 17,834 shares in the last quarter. Institutional investors own 81.10% of the company's stock.

Lennar Trading Down 3.9 %

LEN traded down $5.09 during trading on Monday, reaching $126.15. 4,007,578 shares of the company's stock were exchanged, compared to its average volume of 3,531,413. The company's fifty day moving average price is $146.21 and its 200-day moving average price is $166.24. The firm has a market capitalization of $33.49 billion, a PE ratio of 8.80, a P/E/G ratio of 1.32 and a beta of 1.66. Lennar Co. has a fifty-two week low of $125.21 and a fifty-two week high of $193.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing analysts' consensus estimates of $4.15 by ($0.12). Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $10.06 billion. During the same quarter in the prior year, the company posted $4.82 EPS. The company's revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, equities analysts forecast that Lennar Co. will post 12.52 EPS for the current year.

Lennar Dividend Announcement

The company also recently disclosed 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 yield of 1.59%. The ex-dividend date is Wednesday, January 29th. Lennar's dividend payout ratio is currently 13.95%.

Analyst Ratings Changes

LEN has been the subject of several recent analyst reports. Wells Fargo & Company dropped their price objective on Lennar from $180.00 to $165.00 and set an "equal weight" rating for the company in a research note on Tuesday, December 17th. JPMorgan Chase & Co. cut their price target on shares of Lennar from $192.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, December 13th. Wedbush reaffirmed a "neutral" rating and set a $164.00 price objective on shares of Lennar in a research note on Thursday, December 19th. BTIG Research cut shares of Lennar from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. Finally, Barclays decreased their price target on Lennar from $135.00 to $121.00 and set an "equal weight" rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $167.50.

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.