Chemistry Wealth Management LLC Invests $319,000 in Lennar Co. (NYSE:LEN)

Chemistry Wealth Management LLC purchased a new position in Lennar Co. (NYSE:LEN - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,776 shares of the construction company's stock, valued at approximately $319,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Castlekeep Investment Advisors LLC bought a new position in Lennar during the fourth quarter worth about $218,533,000. Wellington Management Group LLP lifted its holdings in Lennar by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company's stock worth $441,769,000 after acquiring an additional 515,378 shares in the last quarter. D1 Capital Partners L.P. lifted its holdings in Lennar by 67.3% during the fourth 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. Man Group plc lifted its holdings in Lennar by 112.5% during the fourth quarter. Man Group plc now owns 506,722 shares of the construction company's stock worth $69,102,000 after acquiring an additional 268,209 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Lennar by 3.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company's stock worth $834,115,000 after acquiring an additional 213,003 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LEN has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on Lennar from $120.00 to $110.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. The Goldman Sachs Group reduced their target price on Lennar from $141.00 to $120.00 and set a "neutral" rating on the stock in a report on Tuesday, March 25th. Barclays dropped their price target on Lennar from $121.00 to $110.00 and set an "equal weight" rating on the stock in a research note on Monday, March 24th. Wedbush reissued a "neutral" rating and issued a $158.00 price target on shares of Lennar in a research note on Monday, March 17th. Finally, Wall Street Zen raised Lennar from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Fifteen research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $150.07.

Lennar Price Performance

NYSE:LEN opened at $108.51 on Friday. 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 stock's 50-day simple moving average is $107.63 and its 200 day simple moving average is $126.06. The company has a market cap of $28.62 billion, a P/E ratio of 7.57, a P/E/G ratio of 1.24 and a beta of 1.41. Lennar Co. has a 52-week low of $98.42 and a 52-week high of $187.61.

Lennar (NYSE:LEN - Get Free Report) last released its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.44. The business 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.57 earnings per share. As a group, sell-side analysts forecast that Lennar Co. will post 12.48 EPS for the current fiscal 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 given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Wednesday, April 23rd. Lennar's dividend payout ratio (DPR) is presently 14.57%.

Lennar 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.

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