Castlekeep Investment Advisors LLC Makes New $218.53 Million Investment in Lennar Co. (NYSE:LEN)

Castlekeep Investment Advisors LLC acquired a new stake in Lennar Co. (NYSE:LEN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,611,484 shares of the construction company's stock, valued at approximately $218,533,000. Lennar comprises 1.4% of Castlekeep Investment Advisors LLC's portfolio, making the stock its 20th biggest position. Castlekeep Investment Advisors LLC owned about 0.61% of Lennar at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Caxton Associates LP lifted its position in Lennar by 20.7% in the fourth quarter. Caxton Associates LP now owns 11,275 shares of the construction company's stock valued at $1,538,000 after acquiring an additional 1,930 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Lennar by 8.0% in the 4th quarter. Baird Financial Group Inc. now owns 41,358 shares of the construction company's stock valued at $5,640,000 after purchasing an additional 3,080 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Lennar in the 4th quarter valued at about $242,000. Bayview Asset Management LLC purchased a new position in Lennar during the 4th quarter worth approximately $1,240,000. Finally, American Trust Investment Advisors LLC lifted its stake in Lennar by 1.4% in the fourth quarter. American Trust Investment Advisors LLC now owns 29,701 shares of the construction company's stock valued at $4,050,000 after buying an additional 405 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Price Performance

Shares of NYSE:LEN opened at $110.11 on Monday. The firm has a market capitalization of $29.05 billion, a price-to-earnings ratio of 7.68, a price-to-earnings-growth ratio of 1.24 and a beta of 1.41. 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 business's 50 day simple moving average is $113.14 and its 200-day simple moving average is $136.63. Lennar Co. has a 12 month low of $98.42 and a 12 month high of $187.61.

Lennar (NYSE:LEN - Get Free Report) last posted its earnings results on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.44. The company had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. Lennar's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.57 earnings per share. As a group, equities analysts forecast that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a $0.50 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $2.00 annualized dividend and a dividend yield of 1.82%. Lennar's dividend payout ratio is presently 14.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LEN shares. Wedbush reaffirmed a "neutral" rating and issued a $158.00 target price on shares of Lennar in a report on Monday, March 17th. Seaport Res Ptn raised shares of Lennar from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. StockNews.com raised Lennar from a "sell" rating to a "hold" rating in a report on Friday, April 18th. The Goldman Sachs Group reduced their price objective on Lennar from $141.00 to $120.00 and set a "neutral" rating for the company in a research note on Tuesday, March 25th. Finally, UBS Group dropped their target price on Lennar from $183.00 to $164.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Fifteen investment 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, the company currently has an average 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.

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