Gateway Investment Advisers LLC Invests $4.44 Million in Lennar Co. (NYSE:LEN)

Gateway Investment Advisers LLC purchased a new stake in Lennar Co. (NYSE:LEN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 38,718 shares of the construction company's stock, valued at approximately $4,444,000.

Other institutional investors have also made changes to their positions in the company. Hurley Capital LLC acquired a new position in Lennar in the 4th quarter valued at $26,000. SBI Securities Co. Ltd. acquired a new position in Lennar in the fourth quarter valued at about $28,000. Ameriflex Group Inc. bought a new stake in Lennar during the fourth quarter worth about $30,000. NBC Securities Inc. acquired a new stake in Lennar during the first quarter worth about $33,000. Finally, Franchise Capital Ltd bought a new position in Lennar in the 1st quarter valued at about $38,000. 81.10% of the stock is currently owned by institutional investors.

Lennar Trading Down 1.9%

NYSE:LEN traded down $2.11 during mid-day trading on Wednesday, hitting $111.44. 3,398,367 shares of the company's stock were exchanged, compared to its average volume of 2,645,023. Lennar Co. has a fifty-two week low of $98.42 and a fifty-two week high of $187.61. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $29.40 billion, a P/E ratio of 7.77, a PEG ratio of 1.24 and a beta of 1.33. The company has a 50 day simple moving average of $107.63 and a 200-day simple moving average of $124.98.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $7.63 billion for 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%. Lennar's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.57 earnings per share. As a group, research analysts expect that Lennar Co. will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.79%. The ex-dividend date was Wednesday, April 23rd. Lennar's payout ratio is presently 14.57%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LEN. Barclays reduced their price target on shares of Lennar from $121.00 to $110.00 and set an "equal weight" rating on the stock in a research report on Monday, March 24th. Wedbush reaffirmed a "neutral" rating and issued a $158.00 target price on shares of Lennar in a report on Monday, March 17th. UBS Group decreased their price target on Lennar from $183.00 to $164.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Wall Street Zen upgraded Lennar from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Seaport Res Ptn upgraded Lennar from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Fifteen investment 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target 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.