Axxcess Wealth Management LLC Sells 880 Shares of Lennar Co. (NYSE:LEN)

Axxcess Wealth Management LLC lowered its position in shares of Lennar Co. (NYSE:LEN) by 31.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,956 shares of the construction company’s stock after selling 880 shares during the period. Axxcess Wealth Management LLC’s holdings in Lennar were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. TCTC Holdings LLC increased its stake in shares of Lennar by 458.8% during the fourth quarter. TCTC Holdings LLC now owns 447 shares of the construction company’s stock worth $61,000 after purchasing an additional 367 shares during the period. Cibc World Markets Corp increased its stake in shares of Lennar by 14.9% during the fourth quarter. Cibc World Markets Corp now owns 37,654 shares of the construction company’s stock worth $5,135,000 after purchasing an additional 4,889 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in Lennar by 10.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,377 shares of the construction company’s stock worth $1,006,000 after buying an additional 672 shares in the last quarter. Avalon Trust Co grew its position in Lennar by 3.5% during the fourth quarter. Avalon Trust Co now owns 9,315 shares of the construction company’s stock worth $1,270,000 after buying an additional 315 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its position in Lennar by 5.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 50,054 shares of the construction company’s stock worth $6,826,000 after buying an additional 2,621 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

LEN has been the topic of a number of analyst reports. Wolfe Research downgraded Lennar from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their price target on Lennar from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 18th. Royal Bank of Canada reduced their price target on Lennar from $130.00 to $125.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 6th. BTIG Research downgraded Lennar from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, Keefe, Bruyette & Woods downgraded Lennar from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $152.00 to $141.00 in a research report on Tuesday, March 11th. Fourteen investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $164.53.

Lennar Stock Down 4.1 %

Shares of LEN opened at $115.09 on Friday. Lennar Co. has a 52 week low of $111.26 and a 52 week high of $187.61. The stock has a market capitalization of $30.56 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 1.24 and a beta of 1.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. The stock has a fifty day moving average of $126.09 and a 200-day moving average of $153.31.

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

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar’s dividend payout ratio is currently 13.95%.

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.