Lennar Co. (NYSE:LEN) Stake Lowered by Prana Capital Management LP

Prana Capital Management LP reduced its holdings in Lennar Co. (NYSE:LEN - Free Report) by 50.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 143,827 shares of the construction company's stock after selling 144,834 shares during the period. Prana Capital Management LP owned about 0.05% of Lennar worth $19,614,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Armstrong Advisory Group Inc. grew its position in shares of Lennar by 69.4% in 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 acquired a new stake in Lennar in the 4th quarter worth about $25,000. Hurley Capital LLC purchased a new stake in Lennar during the 4th quarter worth approximately $26,000. SBI Securities Co. Ltd. acquired a new position in shares of Lennar during the fourth quarter valued at approximately $28,000. Finally, Wolff Wiese Magana LLC boosted its stake in shares of Lennar by 51.0% in the fourth quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company's stock worth $32,000 after acquiring an additional 79 shares during the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Stock Down 0.9%

NYSE:LEN traded down $1.03 during mid-day trading on Tuesday, hitting $110.15. The company had a trading volume of 830,329 shares, compared to its average volume of 3,167,762. The business has a fifty day simple moving average of $110.54 and a 200-day simple moving average of $131.65. The firm has a market capitalization of $29.06 billion, a price-to-earnings ratio of 7.68, a PEG ratio of 1.24 and a beta of 1.41. Lennar Co. has a 1 year low of $98.42 and a 1 year 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.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.44. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter last year, the company earned $2.57 earnings per share. Lennar's revenue for the quarter was up 4.4% on a year-over-year basis. Equities analysts forecast that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend was Wednesday, April 23rd. Lennar's dividend payout ratio (DPR) is currently 14.57%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LEN shares. Seaport Res Ptn upgraded Lennar from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. UBS Group dropped their price objective on Lennar from $183.00 to $164.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Royal Bank of Canada cut their price objective on Lennar from $125.00 to $122.00 and set a "sector perform" rating on the stock in a research report on Monday, March 24th. Wedbush reaffirmed a "neutral" rating and issued a $158.00 price target on shares of Lennar in a research report on Monday, March 17th. Finally, The Goldman Sachs Group lowered their price objective on Lennar from $141.00 to $120.00 and set a "neutral" rating for the company in a research report on Tuesday, March 25th. Fifteen equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $150.07.

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.