North Dakota State Investment Board bought a new position in Lennar Corporation (NYSE:LEN – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 7,674 shares of the construction company’s stock, valued at approximately $789,000.
A number of other institutional investors and hedge funds have also modified their holdings of LEN. Brighton Jones LLC increased its holdings in shares of Lennar by 27.9% in the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after purchasing an additional 377 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Lennar by 29.8% in the 1st quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company’s stock worth $1,589,000 after purchasing an additional 3,177 shares in the last quarter. Jump Financial LLC increased its holdings in shares of Lennar by 15.0% in the 2nd quarter. Jump Financial LLC now owns 25,622 shares of the construction company’s stock worth $2,834,000 after purchasing an additional 3,345 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in shares of Lennar in the 2nd quarter worth $47,000. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Lennar by 4.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 34,958 shares of the construction company’s stock worth $3,867,000 after purchasing an additional 1,544 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.
Analyst Ratings Changes
A number of analysts have commented on the company. Keefe, Bruyette & Woods reduced their target price on Lennar from $105.00 to $97.00 and set a “market perform” rating for the company in a report on Wednesday, April 1st. The Goldman Sachs Group cut their price objective on Lennar from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, April 10th. Argus cut their price objective on Lennar from $140.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Wells Fargo & Company cut their price objective on Lennar from $100.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Finally, Evercore cut their price objective on Lennar from $89.00 to $82.00 and set an “underperform” rating for the company in a report on Monday, April 13th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and eight have issued a Sell rating to the company. According to data from MarketBeat, Lennar has a consensus rating of “Reduce” and a consensus target price of $99.87.
Lennar Stock Performance
Shares of LEN opened at $87.31 on Thursday. The firm has a market capitalization of $21.56 billion, a P/E ratio of 12.54, a PEG ratio of 1.83 and a beta of 1.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97. The business has a fifty day moving average of $90.02 and a 200 day moving average of $106.84. Lennar Corporation has a one year low of $81.18 and a one year high of $144.24.
Lennar (NYSE:LEN – Get Free Report) last released its earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.07). The company had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. Lennar’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.14 earnings per share. As a group, sell-side analysts anticipate that Lennar Corporation will post 5.87 EPS for the current year.
Lennar Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, April 22nd. This represents a $2.00 annualized dividend and a yield of 2.3%. Lennar’s payout ratio is 28.74%.
Lennar Profile
Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.
In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.
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