Edge Capital Group LLC Sells 45,263 Shares of Lennar Co. (NYSE:LEN)

Edge Capital Group LLC reduced its position in Lennar Co. (NYSE:LEN) by 63.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,002 shares of the construction company’s stock after selling 45,263 shares during the period. Edge Capital Group LLC’s holdings in Lennar were worth $3,546,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Hardman Johnston Global Advisors LLC bought a new stake in shares of Lennar in the 4th quarter valued at about $14,278,000. Colonial River Investments LLC boosted its holdings in shares of Lennar by 15.7% in the 4th quarter. Colonial River Investments LLC now owns 1,956 shares of the construction company’s stock valued at $267,000 after buying an additional 265 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of Lennar by 2,774.5% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 123,142 shares of the construction company’s stock valued at $16,793,000 after buying an additional 118,858 shares in the last quarter. Howard Capital Management Inc. boosted its stake in Lennar by 0.3% in the 4th quarter. Howard Capital Management Inc. now owns 28,836 shares of the construction company’s stock worth $3,932,000 after purchasing an additional 81 shares in the last quarter. Finally, Sigma Planning Corp boosted its stake in Lennar by 11.2% in the 4th quarter. Sigma Planning Corp now owns 4,535 shares of the construction company’s stock worth $618,000 after purchasing an additional 456 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Lennar Trading Down 1.7 %

Shares of LEN opened at $120.59 on Monday. Lennar Co. has a 52-week low of $117.90 and a 52-week high of $193.80. 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 firm’s fifty day moving average is $133.10 and its two-hundred day moving average is $161.03. The stock has a market cap of $32.02 billion, a PE ratio of 8.41, a price-to-earnings-growth ratio of 1.24 and a beta of 1.67.

Lennar (NYSE:LEN) last announced its earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($0.12). Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same period last year, the firm earned $4.82 EPS. The company’s revenue for the quarter was down 9.3% compared to the same quarter last year. Research analysts forecast that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.66%. Lennar’s payout ratio is 13.95%.

Wall Street Analyst Weigh In

LEN has been the subject of a number of recent research reports. UBS Group reduced their price target on shares of Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada reduced their price target on shares of Lennar from $130.00 to $125.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Wells Fargo & Company cut their target price on shares of Lennar from $145.00 to $130.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. BTIG Research lowered shares of Lennar from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Lennar from $170.00 to $152.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $163.88.

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.