ProShare Advisors LLC increased its position in shares of Lennar Co. (NYSE:LEN - Free Report) by 13.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,245 shares of the construction company's stock after buying an additional 5,337 shares during the quarter. ProShare Advisors LLC's holdings in Lennar were worth $6,170,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of LEN. Castlekeep Investment Advisors LLC bought a new position in shares of Lennar during the fourth quarter worth about $218,533,000. Pacer Advisors Inc. grew its holdings in shares of Lennar by 22.0% during the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company's stock worth $446,110,000 after buying an additional 589,553 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of 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 buying an additional 515,378 shares in the last quarter. D1 Capital Partners L.P. grew its holdings in shares of 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 buying an additional 270,433 shares in the last quarter. Finally, Man Group plc grew its holdings in shares of 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 buying an additional 268,209 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have weighed in on LEN. Wedbush restated a "neutral" rating and issued a $158.00 price target on shares of Lennar in a research note on Monday, March 17th. UBS Group decreased their price target on Lennar from $183.00 to $164.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Bank of America decreased their price target on Lennar from $140.00 to $130.00 and set a "neutral" rating for the company in a research note on Tuesday, March 18th. The Goldman Sachs Group decreased 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, Wall Street Zen upgraded Lennar from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Fifteen analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $150.07.
Get Our Latest Research Report on LEN
Lennar Stock Performance
Shares of NYSE LEN traded down $0.18 during midday trading on Friday, hitting $105.12. 2,072,626 shares of the company's stock were exchanged, compared to its average volume of 2,633,102. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. Lennar Co. has a 12 month low of $98.42 and a 12 month high of $187.61. The company's 50 day moving average price is $109.61 and its 200 day moving average price is $130.09. The firm has a market capitalization of $27.73 billion, a PE ratio of 7.33, a price-to-earnings-growth ratio of 1.24 and a beta of 1.41.
Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.44. The business had revenue of $7.63 billion during 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%. The firm's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.57 EPS. As a group, analysts predict that Lennar Co. will post 12.48 earnings per share for the current fiscal year.
Lennar Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $2.00 annualized dividend and a yield of 1.90%. Lennar's dividend payout ratio (DPR) is presently 14.57%.
About Lennar
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Free Report)
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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