WBI Investments LLC Sells 5,414 Shares of Lennar Co. (NYSE:LEN)

WBI Investments LLC cut its stake in shares of Lennar Co. (NYSE:LEN) by 78.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,492 shares of the construction company’s stock after selling 5,414 shares during the period. WBI Investments LLC’s holdings in Lennar were worth $203,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LEN. Castlekeep Investment Advisors LLC acquired a new stake in shares of Lennar during the fourth quarter worth $218,533,000. Pacer Advisors Inc. grew its stake in Lennar by 22.0% in the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock valued at $446,110,000 after acquiring an additional 589,553 shares during the period. Wellington Management Group LLP increased its holdings in shares of Lennar by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company’s stock worth $441,769,000 after acquiring an additional 515,378 shares in the last quarter. D1 Capital Partners L.P. increased its holdings in shares of Lennar by 67.3% in the fourth quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company’s stock worth $88,116,000 after acquiring an additional 270,433 shares in the last quarter. Finally, Man Group plc increased its holdings in shares of Lennar by 112.5% in the fourth quarter. Man Group plc now owns 506,722 shares of the construction company’s stock worth $69,102,000 after acquiring an additional 268,209 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on LEN shares. StockNews.com upgraded Lennar from a “sell” rating to a “hold” rating in a report on Friday, April 18th. Wells Fargo & Company lowered their price target on Lennar from $120.00 to $110.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. Barclays lowered their price target on Lennar from $121.00 to $110.00 and set an “equal weight” rating for the company in a report on Monday, March 24th. Royal Bank of Canada decreased their price objective on Lennar from $125.00 to $122.00 and set a “sector perform” rating for the company in a report on Monday, March 24th. Finally, The Goldman Sachs Group decreased their price objective on Lennar from $141.00 to $120.00 and set a “neutral” rating for the company in a report on Tuesday, March 25th. Fifteen investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $150.07.

Lennar Stock Performance

Shares of NYSE LEN opened at $111.06 on Tuesday. The stock has a 50 day moving average price of $110.54 and a 200 day moving average price of $131.65. Lennar Co. has a 52 week low of $98.42 and a 52 week high of $187.61. 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 market capitalization of $29.30 billion, a PE ratio of 7.74, a price-to-earnings-growth ratio of 1.24 and a beta of 1.41.

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, 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 last year, the firm posted $2.57 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. Analysts predict that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.80%. Lennar’s payout ratio is 14.57%.

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.