iA Global Asset Management Inc. Boosts Stake in Lennar Co. (NYSE:LEN)

iA Global Asset Management Inc. boosted its stake in Lennar Co. (NYSE:LEN) by 193.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,396 shares of the construction company’s stock after buying an additional 4,220 shares during the quarter. iA Global Asset Management Inc.’s holdings in Lennar were worth $872,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Crews Bank & Trust purchased a new position in shares of Lennar during the 4th quarter worth $25,000. Armstrong Advisory Group Inc. lifted its stake in shares of Lennar by 69.4% during the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after purchasing an additional 75 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Lennar during the 4th quarter worth $28,000. Legacy Investment Solutions LLC purchased a new position in shares of Lennar during the 3rd quarter worth $39,000. Finally, Quarry LP lifted its stake in shares of Lennar by 136.7% during the 3rd quarter. Quarry LP now owns 232 shares of the construction company’s stock worth $43,000 after purchasing an additional 134 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LEN shares. JPMorgan Chase & Co. reduced their price target on Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Wedbush reaffirmed a “neutral” rating and issued a $158.00 target price on shares of Lennar in a research report on Monday, March 17th. Citigroup cut their target price on Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company cut their target price on Lennar from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, UBS Group cut their target price on Lennar from $205.00 to $192.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Fourteen research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $164.53.

Lennar Trading Down 4.1 %

NYSE:LEN opened at $115.09 on Friday. The stock has a market cap of $30.56 billion, a price-to-earnings ratio of 8.03, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. Lennar Co. has a one year low of $111.26 and a one year high of $187.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. The business’s 50-day simple moving average is $126.09 and its 200 day simple moving average is $153.48.

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

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 annualized dividend and a yield of 1.74%. Lennar’s dividend payout ratio is presently 13.95%.

About Lennar

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.