Manning & Napier Advisors LLC Buys 13,116 Shares of Lennar Corporation (NYSE:LEN)

Manning & Napier Advisors LLC boosted its position in Lennar Corporation (NYSE:LEN - Free Report) by 86.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,256 shares of the construction company's stock after buying an additional 13,116 shares during the quarter. Manning & Napier Advisors LLC's holdings in Lennar were worth $3,243,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of 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 buying an additional 213,003 shares during the last quarter. Wellington Management Group LLP increased its position 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 during the period. Castlekeep Investment Advisors LLC acquired a new position in Lennar during the 4th quarter valued at $218,533,000. Eminence Capital LP boosted its holdings in Lennar by 43.4% in the 4th quarter. Eminence Capital LP now owns 685,225 shares of the construction company's stock valued at $93,444,000 after purchasing an additional 207,343 shares during the period. Finally, D1 Capital Partners L.P. grew its position in Lennar by 67.3% in the 4th quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company's stock worth $88,116,000 after purchasing an additional 270,433 shares during the last quarter. Institutional investors own 81.10% of the company's stock.

Lennar Price Performance

NYSE:LEN traded up $0.10 on Thursday, reaching $109.87. The stock had a trading volume of 2,334,145 shares, compared to its average volume of 2,676,267. The company has a quick ratio of 0.49, a current ratio of 3.65 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $28.98 billion, a P/E ratio of 9.09, a price-to-earnings-growth ratio of 4.41 and a beta of 1.33. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $187.61. The stock has a fifty day moving average price of $108.26 and a 200-day moving average price of $120.10.

Lennar (NYSE:LEN - Get Free Report) last announced its earnings results on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.04). Lennar had a return on equity of 12.73% and a net margin of 9.20%. The business had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.21 billion. During the same period in the previous year, the firm earned $3.45 earnings per share. The firm's revenue was down 4.4% compared to the same quarter last year. Research analysts forecast that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be paid a $0.50 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.82%. Lennar's dividend payout ratio (DPR) is presently 16.54%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Evercore ISI reduced their target price on shares of Lennar from $131.00 to $114.00 and set an "in-line" rating for the company in a research note on Wednesday, June 18th. Wedbush reaffirmed a "neutral" rating and issued a $130.00 price target on shares of Lennar in a report on Wednesday, June 18th. The Goldman Sachs Group lowered their price objective on Lennar from $141.00 to $120.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 25th. Royal Bank Of Canada cut their target price on Lennar from $122.00 to $98.00 and set a "sector perform" rating for the company in a research note on Wednesday, June 18th. Finally, JMP Securities decreased their price target on shares of Lennar from $150.00 to $130.00 and set a "market outperform" rating on the stock in a research note on Friday, June 20th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $132.50.

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.