Hartford Investment Management Co. reduced its stake in Lennar Co. (NYSE:LEN – Get Rating ) by 10.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 24,713 shares of the construction company’s stock after selling 2,992 shares during the period. Hartford Investment Management Co.’s holdings. in Lennar were worth $2,006,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of LEN. Pacer Advisors Inc. raised its stake in Lennar by 290.2% during the first quarter. Pacer Advisors Inc. now owns 709,572 shares of the construction company’s stock valued at $57,596,000 after acquiring an additional 527,735 shares during the last quarter. Smead Capital Management Inc. boosted its holdings in shares of Lennar by 18.5% during the fourth quarter. Smead Capital Management Inc. now owns 1,978,201 shares of the construction company’s stock worth $229,788,000 after purchasing an additional 309,083 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Lennar during the fourth quarter worth about $28,515,000. Marshall Wace LLP boosted its holdings in shares of Lennar by 280.2% during the 4th quarter. Marshall Wace LLP now owns 324,974 shares of the construction company’s stock valued at $37,750,000 after buying an additional 239,494 shares during the last quarter. Finally, Dendur Capital LP boosted its position in shares of Lennar by 125.3% during the 4th quarter. Dendur Capital LP now owns 405,500 shares of the construction company’s stock valued at $47,103,000 after purchasing an additional 225,500 shares during the period. 82.00% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:LEN opened at $74.60 on Monday. Lennar Co. it has a 52-week low of $62.54 and a 52-week high of $117.54. The company has a 50-day moving average of $74.91 and a 200-day moving average of $86.50. The company has a market cap of $22.04 billion, a P/E ratio of 5.11, a PEG ratio of 4.33 and a beta of 1.46. The company has a quick ratio of 0.62, a current ratio of 8.06 and a debt-to-equity ratio of 0.21.
Lennar (NYSE:LEN – Get Rating ) last posted its quarterly earnings results on Tuesday, June 21st. The construction company reported $4.49 EPS for the quarter, topping the consensus estimate of $3.99 by $0.50. Lennar had a return on equity of 21.45% and a net margin of 14.77%. During the same period last year, the company reported earnings of $2.95 per share. Analysts expect Lennar Co. to post 16.87 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 21st. Shareholders of record on Thursday, July 7th will be given a $0.375 dividend. This represents a dividend of $1.50 on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Wednesday, July 6th. Lennar’s dividend payout ratio (DPR) is currently 10.27%.
LEN has been the subject of a number of research reports. Raymond James reduced their price objective on Lennar from $125.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, June 22nd. KeyCorp reduced their price objective on shares of Lennar from $75.00 to $60.00 and set an “underweight” rating for the company in a research report on Wednesday, June 22nd. Goldman Sachs Group dropped their price objective on shares of Lennar from $120.00 to $96.00 and set a “buy” rating on the stock in a research report on Tuesday, April 12th. Wells Fargo & Company cut their target price on shares of Lennar from $85.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, June 17th. Finally, Royal Bank of Canada decreased their price objective on Lennar from $109.00 to $100.00 and set a “sector perform” rating on the stock in a report on Friday, March 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $94.00, according to MarketBeat.com.
About Lennar (Get Rating)
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through the Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily and Lennar Other segments. The company’s home development operations include the construction and sale of single-family attached and detached residences, as well as the purchase, development and sale of residential land; and development, construction and management of multifamily rental properties.
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