Stockman Wealth Management Inc. Takes $6.68 Million Position in Lennar Co. (NYSE:LEN)

Stockman Wealth Management Inc. acquired a new stake in Lennar Co. (NYSE:LEN) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 58,220 shares of the construction company’s stock, valued at approximately $6,682,000.

A number of other institutional investors have also added to or reduced their stakes in LEN. Castlekeep Investment Advisors LLC bought a new stake in Lennar during the 4th quarter worth approximately $218,533,000. Wellington Management Group LLP grew its holdings in shares of Lennar by 18.9% in 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 in the last quarter. D1 Capital Partners L.P. grew its holdings in shares of Lennar by 67.3% in 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 in the last quarter. Man Group plc grew its holdings in shares of Lennar by 112.5% in the fourth quarter. Man Group plc now owns 506,722 shares of the construction company’s stock valued at $69,102,000 after acquiring an additional 268,209 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Lennar by 3.6% in 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 in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Trading Down 3.2%

NYSE:LEN opened at $108.52 on Monday. Lennar Co. has a one year low of $98.42 and a one year high of $187.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The firm has a market capitalization of $28.63 billion, a price-to-earnings ratio of 7.57, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. The business has a fifty day moving average price of $107.85 and a 200-day moving average price of $123.28.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.44. The firm had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.57 earnings per share. Sell-side analysts forecast that Lennar Co. will post 12.48 EPS for the current year.

Lennar Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on LEN. Barclays reduced their price objective on Lennar from $121.00 to $110.00 and set an “equal weight” rating for the company in a report on Monday, March 24th. Wall Street Zen upgraded Lennar from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Wedbush reiterated a “neutral” rating and issued a $158.00 price objective on shares of Lennar in a research report on Monday, March 17th. Wells Fargo & Company lowered their price objective on Lennar from $120.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 9th. Finally, UBS Group lowered their price target on Lennar from $183.00 to $164.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Fifteen equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lennar presently has a consensus rating of “Hold” and an average price target of $150.07.

Lennar 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.