Nomura Holdings Inc. Invests $1.07 Million in Lennar Co. (NYSE:LEN)

Nomura Holdings Inc. bought a new position in shares of Lennar Co. (NYSE:LEN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,873 shares of the construction company’s stock, valued at approximately $1,074,000.

Other hedge funds have also modified their holdings of the company. Castlekeep Investment Advisors LLC acquired a new position in shares of Lennar during the 4th quarter worth about $218,533,000. Pacer Advisors Inc. raised its position 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 valued at $446,110,000 after buying an additional 589,553 shares during the period. Wellington Management Group LLP raised its position in shares of Lennar by 18.9% during the 4th quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company’s stock valued at $441,769,000 after buying an additional 515,378 shares during the period. D1 Capital Partners L.P. raised its position in shares of Lennar by 67.3% during the 4th quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company’s stock valued at $88,116,000 after buying an additional 270,433 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Lennar by 3.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company’s stock valued at $834,115,000 after purchasing an additional 213,003 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Trading Up 1.4%

NYSE:LEN opened at $111.67 on Monday. The stock has a 50-day simple moving average of $110.70 and a 200-day simple moving average of $132.06. The stock has a market cap of $29.46 billion, a P/E ratio of 7.79, a P/E/G 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. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.44. The business 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 quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.57 EPS. As a group, analysts anticipate that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm 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 1.79%. Lennar’s dividend payout ratio is currently 14.57%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LEN. Wedbush reiterated a “neutral” rating and issued a $158.00 target price on shares of Lennar in a report on Monday, March 17th. Evercore ISI reiterated an “in-line” rating and issued a $131.00 target price (down previously from $159.00) on shares of Lennar in a report on Monday, March 24th. Bank of America dropped their target price on shares of Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, March 18th. Keefe, Bruyette & Woods dropped their price target on shares of Lennar from $141.00 to $128.00 and set a “market perform” rating for the company in a research note on Tuesday, March 25th. Finally, Royal Bank of Canada dropped their price target on shares of Lennar from $125.00 to $122.00 and set a “sector perform” rating for the company in a research note on Monday, March 24th. Fifteen equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $150.07.

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.