Picton Mahoney Asset Management Sells 4,209 Shares of Lennar Co. (NYSE:LEN)

Picton Mahoney Asset Management trimmed its position in Lennar Co. (NYSE:LEN) by 7.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 50,633 shares of the construction company’s stock after selling 4,209 shares during the period. Picton Mahoney Asset Management’s holdings in Lennar were worth $6,906,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Smead Capital Management Inc. lifted 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 acquiring an additional 89,896 shares during the last quarter. Verition Fund Management LLC increased its holdings in Lennar by 147.6% in the third quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock valued at $12,978,000 after purchasing an additional 41,264 shares during the period. Polianta Ltd acquired a new stake in Lennar in the fourth quarter valued at $900,000. OneDigital Investment Advisors LLC increased its holdings in Lennar by 101.2% in the third quarter. OneDigital Investment Advisors LLC now owns 8,673 shares of the construction company’s stock valued at $1,626,000 after purchasing an additional 4,363 shares during the period. Finally, Nordea Investment Management AB increased its holdings in Lennar by 21.4% in the fourth 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 during the period. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LEN shares. Wedbush restated a “neutral” rating and issued a $164.00 price objective on shares of Lennar in a report on Thursday, December 19th. Bank of America decreased their price target on Lennar from $150.00 to $140.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Citigroup decreased their price target on Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, January 6th. The Goldman Sachs Group decreased their price target on Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, December 23rd. Finally, Barclays decreased their price target on Lennar from $135.00 to $121.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Fourteen research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Lennar has a consensus rating of “Hold” and an average price target of $165.93.

Lennar Price Performance

LEN stock opened at $118.06 on Friday. The company has a market capitalization of $31.35 billion, a P/E ratio of 8.23, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. 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 Co. has a 52-week low of $115.61 and a 52-week high of $187.61. The business has a 50-day simple moving average of $127.53 and a two-hundred day simple moving average of $155.48.

Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). The company had revenue of $9.95 billion for 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%. Lennar’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.82 EPS. Research analysts expect that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders 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 yield of 1.69%. Lennar’s dividend payout ratio (DPR) is currently 13.95%.

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.