Perigon Wealth Management LLC Cuts Stock Position in Lennar Co. (NYSE:LEN)

Perigon Wealth Management LLC trimmed its position in shares of Lennar Co. (NYSE:LEN) by 4.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,121 shares of the construction company’s stock after selling 200 shares during the period. Perigon Wealth Management LLC’s holdings in Lennar were worth $614,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Lennar during the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. acquired a new stake in Lennar during the 3rd quarter valued at $28,000. BluePath Capital Management LLC acquired a new stake in Lennar during the 3rd quarter valued at $29,000. Coppell Advisory Solutions LLC acquired a new position in Lennar during the 2nd quarter worth $46,000. Finally, NBC Securities Inc. acquired a new position in Lennar during the 3rd quarter worth $56,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Stock Up 0.3 %

LEN stock opened at $159.90 on Monday. Lennar Co. has a 52-week low of $102.90 and a 52-week high of $172.59. The company’s 50 day simple moving average is $159.55 and its 200-day simple moving average is $141.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.47 and a quick ratio of 1.27. The firm has a market capitalization of $44.51 billion, a P/E ratio of 11.21, a P/E/G ratio of 1.49 and a beta of 1.53.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, March 14th. The construction company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.36. The firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.39 billion. Lennar had a net margin of 11.59% and a return on equity of 15.90%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.12 EPS. As a group, equities research analysts anticipate that Lennar Co. will post 14.46 EPS for the current year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lennar’s dividend payout ratio is 14.02%.

Analyst Ratings Changes

LEN has been the subject of several recent analyst reports. Barclays raised their price objective on shares of Lennar from $173.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Oppenheimer reissued a “market perform” rating on shares of Lennar in a report on Friday, March 15th. JMP Securities reissued a “market outperform” rating and set a $170.00 price objective on shares of Lennar in a report on Friday, March 15th. Citigroup lifted their price target on shares of Lennar from $179.00 to $198.00 and gave the company a “buy” rating in a report on Friday, April 5th. Finally, Royal Bank of Canada decreased their price target on shares of Lennar from $137.00 to $136.00 and set an “underweight” rating for the company in a report on Thursday, March 14th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $163.88.

Insiders Place Their Bets

In other Lennar news, Director Amy Banse bought 1,575 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was bought at an average cost of $157.00 per share, with a total value of $247,275.00. Following the completion of the transaction, the director now directly owns 11,859 shares of the company’s stock, valued at approximately $1,861,863. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 9.36% of the company’s stock.

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.