Congress Wealth Management LLC DE Lowers Holdings in Lennar Co. (NYSE:LEN)

Congress Wealth Management LLC DE reduced its stake in shares of Lennar Co. (NYSE:LEN) by 24.8% in the 4th quarter, according to the company in its most recent disclosure 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 quarter. Congress Wealth Management LLC DE’s holdings in Lennar were worth $2,182,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Armstrong Advisory Group Inc. increased its holdings in shares of Lennar by 69.4% during the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after purchasing an additional 75 shares in the last quarter. Crews Bank & Trust acquired a new position in shares of Lennar in the fourth quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Lennar during the 4th quarter valued at about $28,000. ORG Wealth Partners LLC purchased a new position in shares of Lennar in the 4th quarter valued at about $32,000. Finally, Wolff Wiese Magana LLC raised its holdings in Lennar by 51.0% in the 4th quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company’s stock worth $32,000 after purchasing an additional 79 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Trading Up 0.1 %

Shares of LEN stock opened at $117.90 on Thursday. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. Lennar Co. has a twelve month low of $111.26 and a twelve month high of $187.61. The company’s 50-day moving average price is $125.06 and its 200-day moving average price is $152.03. The stock has a market cap of $31.31 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 1.24 and a beta of 1.69.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.44. The business had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.57 EPS. As a group, equities analysts predict that Lennar Co. will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) is presently 14.57%.

Analyst Ratings Changes

LEN has been the subject of a number of recent analyst reports. BTIG Research cut Lennar from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Wedbush reissued a “neutral” rating and issued a $158.00 price target on shares of Lennar in a report on Monday, March 17th. Keefe, Bruyette & Woods decreased their price objective on shares of Lennar from $141.00 to $128.00 and set a “market perform” rating on the stock in a report on Tuesday. UBS Group reduced their price target on shares of Lennar from $183.00 to $164.00 and set a “buy” rating for the company in a research report on Monday. Finally, Evercore ISI reiterated an “in-line” rating and issued a $131.00 price objective (down from $159.00) on shares of Lennar in a report on Monday. Fifteen equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $151.07.

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.