Neo Ivy Capital Management Purchases 20,001 Shares of Lennar Co. (NYSE:LEN)

Neo Ivy Capital Management raised its holdings in shares of Lennar Co. (NYSE:LEN - Free Report) by 276.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,231 shares of the construction company's stock after buying an additional 20,001 shares during the period. Neo Ivy Capital Management's holdings in Lennar were worth $3,713,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LEN. Crews Bank & Trust purchased a new stake in shares of Lennar during the fourth quarter valued at approximately $25,000. Hurley Capital LLC bought a new stake in Lennar during the fourth quarter valued at $26,000. SBI Securities Co. Ltd. acquired a new position in shares of Lennar during the fourth quarter valued at $28,000. Itau Unibanco Holding S.A. boosted its holdings in shares of Lennar by 611.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 299 shares of the construction company's stock valued at $41,000 after acquiring an additional 257 shares during the period. Finally, Mizuho Bank Ltd. acquired a new stake in Lennar in the fourth quarter worth about $42,000. Hedge funds and other institutional investors own 81.10% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Evercore ISI restated an "in-line" rating and set a $131.00 price objective (down previously from $159.00) on shares of Lennar in a report on Monday, March 24th. Royal Bank of Canada lowered their price target 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. Seaport Res Ptn raised Lennar from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. The Goldman Sachs Group lowered their price target 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, Wedbush reaffirmed a "neutral" rating and set a $158.00 target price on shares of Lennar in a research report on Monday, March 17th. Fifteen 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $150.07.

Lennar Price Performance

Lennar stock traded up $2.94 during mid-day trading on Tuesday, hitting $108.12. 1,756,380 shares of the company were exchanged, compared to its average volume of 2,629,599. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $109.30 and a 200 day moving average of $129.33. Lennar Co. has a 1-year low of $98.42 and a 1-year high of $187.61. The company has a market capitalization of $28.52 billion, a PE ratio of 7.54, a price-to-earnings-growth ratio of 1.24 and a beta of 1.41.

Lennar (NYSE:LEN - Get Free Report) last announced its earnings results on Thursday, March 20th. The construction company reported $2.14 EPS 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 return on equity of 13.93% and a net margin of 11.10%. The business's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.57 earnings per share. As a group, sell-side analysts expect that Lennar Co. will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Wednesday, April 23rd. Lennar's payout ratio is presently 14.57%.

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.