Center For Asset Management LLC Buys 104 Shares of Lennar Co. (NYSE:LEN)

Center For Asset Management LLC grew its stake in Lennar Co. (NYSE:LEN) by 3.2% in the fourth quarter, HoldingsChannel reports. The fund owned 3,350 shares of the construction company’s stock after acquiring an additional 104 shares during the period. Center For Asset Management LLC’s holdings in Lennar were worth $457,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of LEN. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in Lennar by 3.0% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 40,860 shares of the construction company’s stock valued at $5,572,000 after buying an additional 1,182 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Lennar by 21.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,985 shares of the construction company’s stock valued at $271,000 after acquiring an additional 356 shares during the last quarter. CX Institutional raised its holdings in Lennar by 5.2% during the 4th quarter. CX Institutional now owns 10,758 shares of the construction company’s stock worth $1,467,000 after purchasing an additional 529 shares during the last quarter. RFG Advisory LLC lifted its position in Lennar by 3.1% during the 4th quarter. RFG Advisory LLC now owns 4,625 shares of the construction company’s stock valued at $631,000 after purchasing an additional 141 shares during the period. Finally, Cornerstone Wealth Management LLC grew its position in shares of Lennar by 36.1% during the 4th quarter. Cornerstone Wealth Management LLC now owns 1,890 shares of the construction company’s stock worth $258,000 after buying an additional 501 shares during the period. 81.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LEN has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reduced their price objective on shares of Lennar from $210.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Citigroup dropped their price objective on Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Barclays decreased their target price on Lennar from $181.00 to $135.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. The Goldman Sachs Group reduced their price objective on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, December 23rd. Finally, UBS Group lowered their target price on shares of Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. One equities 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 company. Based on data from MarketBeat.com, Lennar currently has an average rating of “Hold” and an average price target of $171.50.

Lennar Price Performance

NYSE LEN opened at $132.40 on Monday. Lennar Co. has a 12-month low of $128.41 and a 12-month high of $193.80. The firm’s 50 day moving average is $149.60 and its 200-day moving average is $167.06. The company has a market capitalization of $35.91 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 1.32 and a beta of 1.66. 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 issued its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing the consensus estimate of $4.15 by ($0.12). The business had revenue of $9.95 billion for 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 quarterly revenue was down 9.3% compared to the same quarter last year. During the same period last year, the firm earned $4.82 earnings per share. Equities research analysts anticipate that Lennar Co. will post 13.02 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Wednesday, January 29th. Lennar’s dividend payout ratio is currently 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.