Pitcairn Co. Has $434,000 Position in Lennar Co. (NYSE:LEN)

Pitcairn Co. cut its holdings in Lennar Co. (NYSE:LEN) by 7.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,181 shares of the construction company’s stock after selling 239 shares during the quarter. Pitcairn Co.’s holdings in Lennar were worth $434,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Crews Bank & Trust bought a new stake in Lennar in the fourth quarter worth $25,000. Armstrong Advisory Group Inc. boosted its stake in shares of Lennar by 69.4% during the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after acquiring an additional 75 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Lennar during the 4th quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new position in shares of Lennar in the 3rd quarter valued at approximately $39,000. Finally, Quarry LP lifted its holdings in Lennar by 136.7% in the 3rd quarter. Quarry LP now owns 232 shares of the construction company’s stock worth $43,000 after purchasing an additional 134 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LEN shares. BTIG Research lowered shares of Lennar from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Bank of America cut their target price on shares of Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Seaport Res Ptn raised Lennar from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Barclays cut their price objective on Lennar from $121.00 to $110.00 and set an “equal weight” rating for the company in a research report on Monday, March 24th. Finally, JPMorgan Chase & Co. dropped their price target on Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $151.07.

Lennar Stock Up 2.3 %

Shares of LEN opened at $110.87 on Friday. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $121.78 and a two-hundred day moving average price of $148.63. The stock has a market cap of $29.44 billion, a price-to-earnings ratio of 7.73, a P/E/G ratio of 1.24 and a beta of 1.51. Lennar Co. has a 12 month low of $106.20 and a 12 month high of $187.61.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.44 billion. During the same period in the prior year, the company posted $2.57 earnings per share. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts predict that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.80%. Lennar’s dividend payout ratio (DPR) is presently 14.57%.

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.