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

Convergence Investment Partners LLC reduced its stake in shares of Lennar Co. (NYSE:LEN) by 2.0% in the fourth quarter, Holdings Channel reports. The fund owned 5,865 shares of the construction company’s stock after selling 118 shares during the quarter. Convergence Investment Partners LLC’s holdings in Lennar were worth $800,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of LEN. Armstrong Advisory Group Inc. grew its holdings in Lennar by 69.4% during the fourth 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 during the period. Crews Bank & Trust bought a new position in shares of Lennar during the 4th quarter worth $25,000. Oakworth Capital Inc. bought a new position in shares of Lennar during the 3rd quarter worth $27,000. GHP Investment Advisors Inc. bought a new position in Lennar during the third quarter worth about $30,000. Finally, ORG Wealth Partners LLC bought a new position in Lennar during the fourth quarter worth about $32,000. 81.10% of the stock is owned by institutional investors.

Lennar Trading Down 1.2 %

Shares of LEN stock opened at $120.98 on Thursday. The business has a 50-day moving average price of $135.18 and a two-hundred day moving average price of $162.05. The firm has a market cap 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. Lennar Co. has a 12-month low of $117.90 and a 12-month high of $193.80. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). The business had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $10.06 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company’s revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.82 earnings per share. Equities analysts anticipate that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar’s dividend payout ratio is presently 13.95%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LEN. BTIG Research downgraded shares of Lennar from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Citigroup cut 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. UBS Group cut their price target on Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Keefe, Bruyette & Woods cut their price target on Lennar from $170.00 to $152.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Finally, Wedbush restated a “neutral” rating and issued a $164.00 target price on shares of Lennar in a research note on Thursday, December 19th. One investment 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. Based on data from MarketBeat, Lennar currently has an average rating of “Hold” and a consensus price target of $163.88.

Lennar Company 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.