Gerber Kawasaki Wealth & Investment Management Sells 6,845 Shares of Lennar Co. (NYSE:LEN)

Gerber Kawasaki Wealth & Investment Management cut its stake in shares of Lennar Co. (NYSE:LEN) by 12.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,950 shares of the construction company’s stock after selling 6,845 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in Lennar were worth $6,675,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Armstrong Advisory Group Inc. raised its position in shares of Lennar by 69.4% during the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after buying an additional 75 shares in the last quarter. Crews Bank & Trust bought a new stake in shares of Lennar in the 4th quarter worth about $25,000. Hurley Capital LLC purchased a new stake in Lennar in the 4th quarter worth about $26,000. SBI Securities Co. Ltd. bought a new stake in shares of Lennar during the 4th quarter worth approximately $28,000. Finally, ORG Wealth Partners LLC bought a new position in Lennar in the fourth quarter worth approximately $32,000. 81.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on LEN. UBS Group reduced their price target on Lennar from $183.00 to $164.00 and set a “buy” rating for the company in a research report on Monday, March 24th. StockNews.com upgraded Lennar from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Evercore ISI reissued an “in-line” rating and issued a $131.00 target price (down from $159.00) on shares of Lennar in a research report on Monday, March 24th. Wolfe Research downgraded shares of Lennar from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Finally, Citigroup reduced their target price on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Fifteen equities research 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 company. According to MarketBeat.com, Lennar currently has an average rating of “Hold” and a consensus price target of $150.07.

Lennar Stock Down 1.4 %

Shares of NYSE LEN opened at $107.72 on Friday. Lennar Co. has a 52-week low of $98.42 and a 52-week high of $187.61. The firm has a market cap of $28.42 billion, a price-to-earnings ratio of 7.51, a PEG ratio of 1.24 and a beta of 1.51. 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 business’s 50 day moving average is $114.45 and its two-hundred day moving average is $139.82.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same period last year, the company earned $2.57 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Research analysts predict that Lennar Co. will post 12.48 EPS for the current year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $2.00 annualized dividend and a yield of 1.86%. Lennar’s dividend payout ratio is presently 14.57%.

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.