Everhart Financial Group Inc. Sells 1,642 Shares of Lennar Co. (NYSE:LEN)

Everhart Financial Group Inc. decreased its holdings in Lennar Co. (NYSE:LEN) by 24.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,067 shares of the construction company’s stock after selling 1,642 shares during the quarter. Everhart Financial Group Inc.’s holdings in Lennar were worth $582,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of LEN. The Manufacturers Life Insurance Company boosted its position in Lennar by 3.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company’s stock valued at $834,115,000 after acquiring an additional 213,003 shares during the last quarter. Wellington Management Group LLP boosted its position in Lennar by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company’s stock valued at $441,769,000 after acquiring an additional 515,378 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Lennar during the fourth quarter valued at $218,533,000. Eminence Capital LP boosted its position in Lennar by 43.4% during the fourth quarter. Eminence Capital LP now owns 685,225 shares of the construction company’s stock valued at $93,444,000 after acquiring an additional 207,343 shares during the last quarter. Finally, D1 Capital Partners L.P. boosted its position in Lennar by 67.3% during the fourth quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company’s stock valued at $88,116,000 after acquiring an additional 270,433 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Trading Down 3.2%

LEN opened at $108.52 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. Lennar Co. has a fifty-two week low of $98.42 and a fifty-two week high of $187.61. The firm has a market capitalization of $28.63 billion, a PE ratio of 7.57, a P/E/G ratio of 1.24 and a beta of 1.33. The company’s 50-day moving average is $107.85 and its 200 day moving average is $123.98.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.44. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.44 billion. During the same quarter in the prior year, the business posted $2.57 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. As a group, research analysts predict that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Wednesday, April 23rd. Lennar’s payout ratio is 14.57%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wedbush reaffirmed a “neutral” rating and set a $158.00 price target on shares of Lennar in a research report on Monday, March 17th. Royal Bank of Canada cut their price target on shares of Lennar from $125.00 to $122.00 and set a “sector perform” rating on the stock in a research report on Monday, March 24th. The Goldman Sachs Group cut their price target on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. Barclays dropped their price objective on shares of Lennar from $121.00 to $110.00 and set an “equal weight” rating on the stock in a report on Monday, March 24th. Finally, Seaport Res Ptn upgraded shares of Lennar from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Fifteen equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lennar has an average rating of “Hold” and a consensus price target of $150.07.

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.