Perigon Wealth Management LLC Has $868,000 Stake in Lennar Co. (NYSE:LEN)

Perigon Wealth Management LLC raised its position in Lennar Co. (NYSE:LEN) by 126.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,167 shares of the construction company’s stock after purchasing an additional 3,444 shares during the quarter. Perigon Wealth Management LLC’s holdings in Lennar were worth $868,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in Lennar by 1.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company’s stock valued at $1,106,798,000 after buying an additional 73,638 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Lennar by 22.0% during the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock worth $446,110,000 after purchasing an additional 589,553 shares during the period. Smead Capital Management Inc. grew its stake in shares of Lennar by 3.5% in the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock worth $499,991,000 after purchasing an additional 89,896 shares during the last quarter. Nordea Investment Management AB increased its holdings in Lennar by 21.4% in the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after purchasing an additional 397,492 shares during the period. Finally, Bamco Inc. NY raised its position in Lennar by 2.6% during the 3rd quarter. Bamco Inc. NY now owns 711,023 shares of the construction company’s stock worth $133,303,000 after purchasing an additional 17,834 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Stock Performance

Shares of LEN stock opened at $135.22 on Friday. Lennar Co. has a 12 month low of $128.41 and a 12 month high of $193.80. The firm has a market capitalization of $36.68 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 1.32 and a beta of 1.66. The firm has a fifty day simple moving average of $147.63 and a two-hundred day simple moving average of $166.67. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing the consensus estimate of $4.15 by ($0.12). The business had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $10.06 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. Lennar’s revenue was down 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $4.82 EPS. Analysts forecast that Lennar Co. will post 13.02 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Wednesday, January 29th. Lennar’s payout ratio is currently 13.95%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LEN. Barclays decreased their price target on Lennar from $181.00 to $135.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Wolfe Research downgraded shares of Lennar from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Wells Fargo & Company dropped their price target on shares of Lennar from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. The Goldman Sachs Group decreased their price objective on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, December 23rd. Finally, BTIG Research lowered shares of Lennar from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $168.38.

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.