Lennar Co. (NYSE:LEN) Shares Sold by Bamco Inc. NY

Bamco Inc. NY reduced its position in Lennar Co. (NYSE:LEN - Free Report) by 50.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 353,303 shares of the construction company's stock after selling 357,720 shares during the period. Bamco Inc. NY owned about 0.13% of Lennar worth $48,180,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. increased its holdings in Lennar by 69.4% in the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company's stock valued at $25,000 after purchasing an additional 75 shares in the last quarter. Crews Bank & Trust bought a new position in shares of Lennar during the fourth quarter valued at approximately $25,000. Hurley Capital LLC acquired a new position in Lennar during the 4th quarter valued at about $26,000. SBI Securities Co. Ltd. bought a new stake in shares of Lennar during the fourth quarter valued at about $28,000. Finally, ORG Wealth Partners LLC bought a new position in shares of Lennar during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Trading Up 1.6 %

Shares of NYSE:LEN traded up $1.69 during mid-day trading on Thursday, reaching $109.50. 2,038,344 shares of the company were exchanged, compared to its average volume of 2,584,427. 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 firm's 50-day simple moving average is $112.37 and its 200 day simple moving average is $135.67. Lennar Co. has a 1 year low of $98.42 and a 1 year high of $187.61. The firm has a market cap of $28.89 billion, a price-to-earnings ratio of 7.64, a P/E/G ratio of 1.24 and a beta of 1.41.

Lennar (NYSE:LEN - Get Free Report) last issued its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.44. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company earned $2.57 EPS. Equities research analysts forecast that Lennar Co. will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Wednesday, April 23rd. Lennar's dividend payout ratio (DPR) is presently 14.57%.

Analysts Set New Price Targets

LEN has been the topic of several research reports. Bank of America dropped their price objective on shares of Lennar from $140.00 to $130.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 18th. Wedbush reiterated a "neutral" rating and set a $158.00 target price on shares of Lennar in a research report on Monday, March 17th. Wolfe Research lowered shares of Lennar from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. Evercore ISI reaffirmed an "in-line" rating and set a $131.00 price objective (down from $159.00) on shares of Lennar in a research note on Monday, March 24th. Finally, Royal Bank of Canada lowered their target price on 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $150.07.

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.