Man Group plc Has $69.10 Million Stake in Lennar Co. (NYSE:LEN)

Man Group plc raised its position in shares of Lennar Co. (NYSE:LEN) by 112.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 506,722 shares of the construction company’s stock after buying an additional 268,209 shares during the period. Man Group plc’s holdings in Lennar were worth $69,102,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Polianta Ltd acquired a new stake in shares of Lennar in the fourth quarter valued at approximately $900,000. Pacer Advisors Inc. increased its holdings in shares of Lennar by 22.0% in the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock valued at $446,110,000 after purchasing an additional 589,553 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Lennar by 51.8% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 26,382 shares of the construction company’s stock valued at $3,597,000 after purchasing an additional 9,000 shares in the last quarter. Clear Harbor Asset Management LLC increased its holdings in shares of Lennar by 25.0% in the fourth quarter. Clear Harbor Asset Management LLC now owns 16,501 shares of the construction company’s stock valued at $2,250,000 after purchasing an additional 3,303 shares in the last quarter. Finally, Swedbank AB increased its holdings in shares of Lennar by 1.5% in the fourth quarter. Swedbank AB now owns 167,182 shares of the construction company’s stock valued at $22,799,000 after purchasing an additional 2,473 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Down 3.3%

NYSE:LEN opened at $108.69 on Thursday. Lennar Co. has a 1 year low of $98.42 and a 1 year high of $187.61. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The stock has a market cap of $28.67 billion, a price-to-earnings ratio of 7.58, a PEG ratio of 1.24 and a beta of 1.41. The stock has a 50-day moving average price of $111.19 and a two-hundred day moving average price of $133.44.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.44 billion. During the same period in the previous year, the firm earned $2.57 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. As a group, equities analysts expect that Lennar Co. will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have issued reports on LEN shares. Wells Fargo & Company reduced their price objective on shares of Lennar from $120.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods reduced their price objective on shares of Lennar from $141.00 to $128.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 25th. Bank of America reduced their price objective on shares of Lennar from $140.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. Seaport Res Ptn raised shares of Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Finally, StockNews.com raised shares of Lennar from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Fifteen 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, the company currently has an average rating of “Hold” and a consensus 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.