Mason Street Advisors LLC lessened its position in shares of Lennar Co. (NYSE:LEN) by 1.1% during the first quarter, Holdings Channel reports. The institutional investor owned 40,795 shares of the construction company’s stock after selling 449 shares during the quarter. Mason Street Advisors LLC’s holdings in Lennar were worth $2,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Highland Capital Management LLC lifted its position in shares of Lennar by 9.1% during the 1st quarter. Highland Capital Management LLC now owns 113,617 shares of the construction company’s stock valued at $5,577,000 after buying an additional 9,464 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of Lennar by 5,113.8% during the 4th quarter. Macquarie Group Ltd. now owns 241,400 shares of the construction company’s stock valued at $9,451,000 after buying an additional 236,770 shares during the last quarter. Tibra Equities Europe Ltd purchased a new position in shares of Lennar during the 1st quarter valued at $604,000. CI Investments Inc. lifted its position in shares of Lennar by 188.5% during the 4th quarter. CI Investments Inc. now owns 756 shares of the construction company’s stock valued at $30,000 after buying an additional 494 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of Lennar by 29.1% during the 4th quarter. Mackenzie Financial Corp now owns 22,772 shares of the construction company’s stock valued at $892,000 after buying an additional 5,139 shares during the last quarter. 83.08% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on LEN. Barclays set a $54.00 price target on Lennar and gave the company a “buy” rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. initiated coverage on Lennar in a research note on Monday, April 8th. They set a “focus list” rating on the stock. Zacks Investment Research upgraded Lennar from a “sell” rating to a “hold” rating in a research note on Tuesday, March 12th. ValuEngine upgraded Lennar from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Finally, KeyCorp boosted their price objective on Lennar from $50.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $56.47.
NYSE:LEN opened at $51.91 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 14.77. Lennar Co. has a 52-week low of $37.29 and a 52-week high of $55.77. The firm has a market cap of $16.78 billion, a P/E ratio of 8.17, a P/E/G ratio of 0.69 and a beta of 1.33.
Lennar (NYSE:LEN) last announced its earnings results on Wednesday, March 27th. The construction company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $4.10 billion. Lennar had a return on equity of 13.04% and a net margin of 8.39%. Lennar’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.11 earnings per share. Research analysts forecast that Lennar Co. will post 5.42 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th were paid a $0.04 dividend. The ex-dividend date was Tuesday, April 23rd. This represents a $0.16 dividend on an annualized basis and a yield of 0.31%. Lennar’s dividend payout ratio is currently 2.52%.
In other Lennar news, President Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $48.94, for a total value of $978,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 8.43% of the stock is owned by corporate insiders.
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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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.
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