Atria Wealth Solutions Inc. Cuts Holdings in Lennar Co. (NYSE:LEN)

Atria Wealth Solutions Inc. reduced its position in Lennar Co. (NYSE:LEN) by 13.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,681 shares of the construction company’s stock after selling 592 shares during the period. Atria Wealth Solutions Inc.’s holdings in Lennar were worth $502,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smead Capital Management Inc. increased its holdings in shares of Lennar by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock worth $499,991,000 after buying an additional 89,896 shares during the last quarter. Verition Fund Management LLC increased its stake in Lennar by 147.6% during the third quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock worth $12,978,000 after acquiring an additional 41,264 shares during the last quarter. Polianta Ltd purchased a new stake in Lennar during the fourth quarter valued at approximately $900,000. OneDigital Investment Advisors LLC lifted its stake in shares of Lennar by 101.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 8,673 shares of the construction company’s stock valued at $1,626,000 after purchasing an additional 4,363 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Lennar by 21.4% during the 4th 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 last quarter. 81.10% of the stock is owned by institutional investors.

Lennar Trading Down 1.0 %

NYSE LEN opened at $120.34 on Friday. Lennar Co. has a 52 week low of $117.90 and a 52 week high of $193.80. The company has a 50 day moving average price of $131.07 and a 200 day moving average price of $159.81. 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 has a market cap of $31.95 billion, a PE ratio of 8.39, a price-to-earnings-growth ratio of 1.24 and a beta of 1.67.

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

Lennar Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have commented on LEN. JPMorgan Chase & Co. dropped their price objective on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Wedbush reaffirmed a “neutral” rating and set a $164.00 price target on shares of Lennar in a research note on Thursday, December 19th. Wells Fargo & Company reduced their price objective on shares of Lennar from $145.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Barclays dropped their target price on Lennar from $135.00 to $121.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Finally, Citigroup reduced their price target on Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $163.88.

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.