National Pension Service Boosts Stock Position in Lennar Corporation $LEN

by · The Cerbat Gem

National Pension Service boosted its holdings in shares of Lennar Corporation (NYSE:LEN – Free Report) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 445,407 shares of the construction company’s stock after purchasing an additional 19,878 shares during the quarter. National Pension Service’s holdings in Lennar were worth $45,788,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cibc World Market Inc. increased its holdings in Lennar by 993.0% during the 3rd quarter. Cibc World Market Inc. now owns 129,487 shares of the construction company’s stock worth $16,321,000 after purchasing an additional 117,640 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Lennar by 5.9% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 466,027 shares of the construction company’s stock worth $58,738,000 after purchasing an additional 26,117 shares during the last quarter. Boothbay Fund Management LLC increased its holdings in Lennar by 201.1% during the 3rd quarter. Boothbay Fund Management LLC now owns 24,004 shares of the construction company’s stock worth $3,025,000 after purchasing an additional 16,031 shares during the last quarter. Tounjian Advisory Partners LLC bought a new stake in shares of Lennar in the 4th quarter valued at approximately $2,599,000. Finally, Coronation Fund Managers Ltd. bought a new stake in shares of Lennar in the 3rd quarter valued at approximately $14,160,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LEN shares. UBS Group lowered their price target on Lennar from $122.00 to $107.00 and set a “neutral” rating for the company in a report on Monday, March 16th. Seaport Research Partners reiterated a “sell” rating and issued a $74.00 price target (down from $140.00) on shares of Lennar in a report on Tuesday, April 7th. Wells Fargo & Company lowered their price target on Lennar from $100.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Barclays lowered their price objective on Lennar from $85.00 to $80.00 and set an “underweight” rating for the company in a research note on Wednesday, April 8th. Finally, Evercore lowered their price objective on Lennar from $89.00 to $82.00 and set an “underperform” rating for the company in a research note on Monday, April 13th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and eight have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $99.87.

Get Our Latest Report on LEN

Lennar Trading Up 0.2%

NYSE:LEN opened at $89.95 on Monday. Lennar Corporation has a 1 year low of $81.18 and a 1 year high of $144.24. The stock has a market cap of $22.22 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.98 and a beta of 1.39. The business has a fifty day moving average of $89.14 and a 200-day moving average of $105.25. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 4.77.

Lennar (NYSE:LEN – Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.07). The business had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.14 EPS. Equities analysts predict that Lennar Corporation will post 5.87 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd were issued a $0.50 dividend. The ex-dividend date was Wednesday, April 22nd. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. Lennar’s dividend payout ratio is 28.74%.

About Lennar

(Free Report)

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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