LS Investment Advisors LLC increased its position in shares of Lennar Co. (NYSE:LEN) by 92.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,080 shares of the construction company’s stock after purchasing an additional 8,212 shares during the quarter. LS Investment Advisors LLC’s holdings in Lennar were worth $669,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. NuWave Investment Management LLC acquired a new stake in Lennar in the 4th quarter valued at about $51,000. Dubuque Bank & Trust Co. acquired a new stake in Lennar in the 4th quarter valued at about $55,000. Worth Venture Partners LLC acquired a new stake in Lennar in the 3rd quarter valued at about $106,000. Quantamental Technologies LLC acquired a new stake in Lennar in the 4th quarter valued at about $192,000. Finally, Financial Architects Inc acquired a new stake in Lennar in the 4th quarter valued at about $196,000. Institutional investors and hedge funds own 84.82% of the company’s stock.
In related news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $40.03, for a total transaction of $800,600.00. Following the transaction, the chief operating officer now owns 171,014 shares of the company’s stock, valued at approximately $6,845,690.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.50% of the stock is owned by company insiders.
Several research firms have weighed in on LEN. Barclays set a $52.00 price objective on shares of Lennar and gave the company a “buy” rating in a research report on Thursday, January 10th. Royal Bank of Canada set a $53.00 price objective on shares of Lennar and gave the company a “buy” rating in a research report on Thursday, January 10th. Deutsche Bank raised their price objective on shares of Lennar to $56.00 and gave the company a “buy” rating in a research report on Thursday, January 10th. Bank of America lowered their price objective on shares of Lennar from $60.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, January 10th. Finally, Buckingham Research began coverage on shares of Lennar in a research report on Friday, January 11th. They issued a “buy” rating for the company. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, one has issued a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $59.00.
Shares of NYSE LEN opened at $46.03 on Friday. The stock has a market capitalization of $14.92 billion, a PE ratio of 7.25, a price-to-earnings-growth ratio of 0.55 and a beta of 1.35. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.12 and a current ratio of 11.48. Lennar Co. has a 1 year low of $37.29 and a 1 year high of $64.90.
Lennar (NYSE:LEN) last issued its earnings results on Wednesday, January 9th. The construction company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.05. The company had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.46 billion. Lennar had a net margin of 8.24% and a return on equity of 13.76%. The company’s revenue for the quarter was up 70.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. Analysts expect that Lennar Co. will post 6.02 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 8th. Investors of record on Friday, January 25th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Thursday, January 24th. Lennar’s payout ratio is 2.52%.
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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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.
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