Convergence Investment Partners LLC Sells 118 Shares of Lennar Co. (NYSE:LEN)

Convergence Investment Partners LLC lowered its holdings in shares of Lennar Co. (NYSE:LEN) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,865 shares of the construction company’s stock after selling 118 shares during the period. Convergence Investment Partners LLC’s holdings in Lennar were worth $800,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of LEN. International Assets Investment Management LLC raised its position in shares of Lennar by 23,048.0% during the third quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock worth $28,209,000 after acquiring an additional 149,812 shares during the last quarter. Smead Capital Management Inc. raised its holdings in Lennar by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock worth $499,991,000 after purchasing an additional 89,896 shares during the last quarter. Verition Fund Management LLC raised its holdings in Lennar by 147.6% during the 3rd quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock worth $12,978,000 after purchasing an additional 41,264 shares during the last quarter. Polianta Ltd bought a new position in Lennar during the 4th quarter worth approximately $900,000. Finally, OneDigital Investment Advisors LLC raised its stake in Lennar by 101.2% during the third quarter. OneDigital Investment Advisors LLC now owns 8,673 shares of the construction company’s stock worth $1,626,000 after buying an additional 4,363 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wells Fargo & Company decreased their price target on Lennar from $145.00 to $130.00 and set an “equal weight” rating for the company in a report on Tuesday. Barclays lowered their target price on Lennar from $135.00 to $121.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. UBS Group reduced their price objective on shares of Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Bank of America lowered their price objective on shares of Lennar from $150.00 to $140.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Finally, Wolfe Research lowered shares of Lennar from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Lennar presently has a consensus rating of “Hold” and a consensus price target of $163.88.

Lennar Trading Down 1.2 %

Shares of Lennar stock opened at $120.98 on Thursday. Lennar Co. has a 12-month low of $117.90 and a 12-month high of $193.80. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $32.12 billion, a P/E ratio of 8.44, a price-to-earnings-growth ratio of 1.25 and a beta of 1.67. The stock has a fifty day simple moving average of $135.18 and a 200 day simple moving average of $162.05.

Lennar (NYSE:LEN) last issued its quarterly earnings data 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). Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $10.06 billion. During the same period in the previous year, the company posted $4.82 earnings per share. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, sell-side analysts anticipate that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Wednesday, January 29th. Lennar’s dividend 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.