1,659 Shares in Lennar Co. (NYSE:LEN) Purchased by OLD National Bancorp IN

OLD National Bancorp IN purchased a new position in Lennar Co. (NYSE:LEN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,659 shares of the construction company’s stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LEN. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Lennar in the 3rd quarter worth about $27,000. Raleigh Capital Management Inc. bought a new stake in Lennar in the 3rd quarter valued at about $28,000. BluePath Capital Management LLC bought a new stake in Lennar in the 3rd quarter valued at about $29,000. Criterion Capital Advisors LLC bought a new stake in Lennar in the 4th quarter valued at about $36,000. Finally, NBC Securities Inc. bought a new stake in Lennar in the 3rd quarter valued at about $56,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LEN has been the topic of a number of research reports. Oppenheimer restated a “market perform” rating on shares of Lennar in a research note on Friday, March 15th. Wells Fargo & Company boosted their price objective on Lennar from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on Lennar from $110.00 to $122.00 and gave the company a “sell” rating in a research note on Thursday, March 14th. Barclays upped their price target on Lennar from $173.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. decreased their price target on Lennar from $161.00 to $157.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lennar has a consensus rating of “Moderate Buy” and an average price target of $163.88.

Insiders Place Their Bets

In other news, Director Amy Banse bought 1,575 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was acquired at an average price of $157.00 per share, with a total value of $247,275.00. Following the completion of the purchase, the director now directly owns 11,859 shares in the company, valued at $1,861,863. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.36% of the stock is owned by insiders.

Lennar Stock Down 0.9 %

LEN stock opened at $152.79 on Friday. The company has a current ratio of 5.47, a quick ratio of 1.27 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average is $159.50 and its 200 day moving average is $143.55. The stock has a market cap of $42.53 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 1.44 and a beta of 1.53. Lennar Co. has a 1-year low of $102.90 and a 1-year high of $172.59.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, March 14th. The construction company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.36. The company had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.39 billion. Lennar had a net margin of 11.59% and a return on equity of 15.90%. Lennar’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.12 earnings per share. Sell-side analysts predict that Lennar Co. will post 14.46 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lennar’s dividend payout ratio is currently 14.02%.

Lennar Company 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.