Baird Financial Group Inc. Boosts Holdings in Lennar Co. (NYSE:LEN)

Baird Financial Group Inc. grew its stake in shares of Lennar Co. (NYSE:LEN - Free Report) by 8.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,358 shares of the construction company's stock after buying an additional 3,080 shares during the period. Baird Financial Group Inc.'s holdings in Lennar were worth $5,640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of LEN. Pacer Advisors Inc. boosted 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 valued at $446,110,000 after purchasing an additional 589,553 shares during the last quarter. Wellington Management Group LLP grew its holdings in 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 in the last quarter. D1 Capital Partners L.P. raised its holdings 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 worth $88,116,000 after acquiring an additional 270,433 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Lennar by 3.6% during 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 acquiring an additional 213,003 shares during the last quarter. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of Lennar in the fourth quarter valued at $27,933,000. Hedge funds and other institutional investors own 81.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LEN. Wells Fargo & Company dropped their price objective on shares of Lennar from $120.00 to $110.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Wedbush reissued a "neutral" rating and set a $158.00 price objective on shares of Lennar in a research note on Monday, March 17th. StockNews.com raised Lennar from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. UBS Group cut their target price on Lennar from $183.00 to $164.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Finally, Seaport Res Ptn upgraded Lennar from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Fifteen equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lennar has a consensus rating of "Hold" and a consensus price target of $150.07.

Lennar Stock Down 0.8 %

Lennar stock opened at $108.65 on Friday. Lennar Co. has a fifty-two week low of $98.42 and a fifty-two week high of $187.61. The company has a market cap of $28.66 billion, a PE ratio of 7.58, a PEG ratio of 1.24 and a beta of 1.41. 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 $112.00 and its two-hundred day simple moving average is $134.74.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $7.63 billion during the quarter, compared to analysts' expectations of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.57 EPS. Equities analysts anticipate that Lennar Co. will post 12.48 EPS for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.84%. Lennar's payout ratio is 14.57%.

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.

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