Castlekeep Investment Advisors LLC Takes Position in Lennar Co. (NYSE:LEN)

Castlekeep Investment Advisors LLC bought a new position in Lennar Co. (NYSE:LEN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,611,484 shares of the construction company’s stock, valued at approximately $218,533,000. Lennar accounts for approximately 1.4% of Castlekeep Investment Advisors LLC’s portfolio, making the stock its 20th largest position.

Several other institutional investors also recently bought and sold shares of the business. Polianta Ltd acquired a new position in Lennar in the fourth quarter valued at $900,000. Nordea Investment Management AB grew its holdings in Lennar by 21.4% in the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after buying an additional 397,492 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Lennar by 22.0% during the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock worth $446,110,000 after acquiring an additional 589,553 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its position 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 worth $3,597,000 after acquiring an additional 9,000 shares during the last quarter. Finally, Clear Harbor Asset Management LLC grew its holdings in 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 during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Performance

NYSE:LEN opened at $110.11 on Monday. The firm has a 50-day moving average of $113.14 and a two-hundred day moving average of $136.63. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The stock has a market cap of $29.05 billion, a P/E ratio of 7.68, a PEG ratio of 1.24 and a beta of 1.41. Lennar Co. has a 1-year low of $98.42 and a 1-year high of $187.61.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share 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 analyst estimates of $7.44 billion. During the same quarter last year, the firm earned $2.57 EPS. Lennar’s quarterly revenue was up 4.4% on a year-over-year basis. On average, research analysts expect that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lennar’s payout ratio is currently 14.57%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group decreased their price target on shares of Lennar from $183.00 to $164.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Seaport Res Ptn raised Lennar from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Royal Bank of Canada cut their price objective on Lennar from $125.00 to $122.00 and set a “sector perform” rating on the stock in a report on Monday, March 24th. Wolfe Research cut Lennar from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Finally, Barclays cut their price target on shares of Lennar from $121.00 to $110.00 and set an “equal weight” rating on the stock in a report on Monday, March 24th. 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 MarketBeat, the company has a consensus rating of “Hold” and an average 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.