Lyell Wealth Management LP Acquires 1,953 Shares of Lennar Co. (NYSE:LEN)

Lyell Wealth Management LP increased its holdings in shares of Lennar Co. (NYSE:LEN) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,476 shares of the construction company’s stock after purchasing an additional 1,953 shares during the quarter. Lennar accounts for 1.2% of Lyell Wealth Management LP’s portfolio, making the stock its 27th biggest holding. Lyell Wealth Management LP’s holdings in Lennar were worth $10,653,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Coastline Trust Co lifted its holdings in shares of Lennar by 80.8% during the fourth quarter. Coastline Trust Co now owns 24,515 shares of the construction company’s stock valued at $3,654,000 after purchasing an additional 10,957 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Lennar by 6,297.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 662,277 shares of the construction company’s stock valued at $98,706,000 after acquiring an additional 651,924 shares during the period. PGGM Investments lifted its holdings in Lennar by 16.3% in the third quarter. PGGM Investments now owns 88,872 shares of the construction company’s stock valued at $9,974,000 after acquiring an additional 12,469 shares during the period. Patton Fund Management Inc. bought a new position in Lennar in the fourth quarter valued at about $5,367,000. Finally, Ieq Capital LLC lifted its holdings in Lennar by 7.0% in the third quarter. Ieq Capital LLC now owns 1,808 shares of the construction company’s stock valued at $203,000 after acquiring an additional 118 shares during the period. 81.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Citigroup increased their target price on Lennar from $179.00 to $198.00 and gave the company a “buy” rating in a report on Friday, April 5th. Evercore ISI raised their price objective on Lennar from $224.00 to $238.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th. Barclays raised their price objective on Lennar from $173.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Keefe, Bruyette & Woods raised their price objective on Lennar from $175.00 to $183.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Finally, JPMorgan Chase & Co. decreased their price objective on Lennar from $161.00 to $157.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lennar has an average rating of “Moderate Buy” and a consensus price target of $163.88.

Insiders Place Their Bets

In related news, Director Amy Banse bought 1,575 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was bought at an average price of $157.00 per share, with a total value of $247,275.00. Following the purchase, the director now directly owns 11,859 shares of the company’s stock, valued at approximately $1,861,863. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.36% of the stock is currently owned by company insiders.

Lennar Stock Down 1.0 %

NYSE:LEN traded down $1.58 on Wednesday, reaching $154.12. The stock had a trading volume of 1,480,640 shares, compared to its average volume of 2,113,992. The company has a current ratio of 5.47, a quick ratio of 1.27 and a debt-to-equity ratio of 0.11. Lennar Co. has a 12-month low of $102.90 and a 12-month high of $172.59. The company has a 50-day moving average of $159.53 and a 200 day moving average of $143.48. The stock has a market cap of $42.90 billion, a P/E ratio of 10.80, a price-to-earnings-growth ratio of 1.41 and a beta of 1.53.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, March 14th. The construction company reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.36. Lennar had a net margin of 11.59% and a return on equity of 15.90%. The firm had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.39 billion. During the same quarter last year, the company posted $2.12 earnings per share. Lennar’s revenue was up 12.7% on a year-over-year basis. On average, research analysts predict that Lennar Co. will post 14.46 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be given a $0.50 dividend. The ex-dividend date is Tuesday, April 23rd. This represents a $2.00 annualized dividend and a yield of 1.30%. Lennar’s dividend payout ratio (DPR) is 14.02%.

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.