Lone Pine Capital LLC Has $234.27 Million Stock Position in Lennar Co. (NYSE:LEN)

Lone Pine Capital LLC cut its stake in shares of Lennar Co. (NYSE:LEN - Free Report) by 41.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,717,903 shares of the construction company's stock after selling 1,209,751 shares during the quarter. Lennar makes up 1.7% of Lone Pine Capital LLC's portfolio, making the stock its 24th largest holding. Lone Pine Capital LLC owned about 0.65% of Lennar worth $234,270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in LEN. Pacer Advisors Inc. increased its position in Lennar by 22.0% in the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company's stock valued at $446,110,000 after acquiring an additional 589,553 shares during the period. Wellington Management Group LLP increased 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 valued at $441,769,000 after purchasing an additional 515,378 shares during the period. Nordea Investment Management AB grew its position in Lennar by 21.4% in the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company's stock valued at $308,696,000 after buying an additional 397,492 shares in the last quarter. D1 Capital Partners L.P. raised its position in shares of Lennar by 67.3% during the 4th 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, The Manufacturers Life Insurance Company lifted its stake in shares of Lennar by 3.6% in the 4th 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 during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Up 1.8 %

Shares of NYSE LEN traded up $1.92 during trading hours on Friday, hitting $110.11. The stock had a trading volume of 1,803,489 shares, compared to its average volume of 2,568,181. The firm's 50-day moving average price is $113.14 and its two-hundred day moving average price is $137.33. Lennar Co. has a 52 week low of $98.42 and a 52 week high of $187.61. The company has a market capitalization of $29.05 billion, a P/E ratio of 7.68, a P/E/G ratio of 1.24 and a beta of 1.51. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly 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 analyst estimates of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. Lennar's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.57 EPS. Analysts anticipate that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Wednesday, April 23rd. Lennar's payout ratio is 14.57%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LEN. Citigroup decreased their price target on Lennar from $196.00 to $150.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Royal Bank of Canada dropped their target price on shares of Lennar from $125.00 to $122.00 and set a "sector perform" rating on the stock in a report on Monday, March 24th. Keefe, Bruyette & Woods dropped their price target on Lennar from $141.00 to $128.00 and set a "market perform" rating on the stock in a report on Tuesday, March 25th. UBS Group decreased their target price on Lennar from $183.00 to $164.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Finally, Bank of America cut their price objective on Lennar from $140.00 to $130.00 and set a "neutral" rating on the stock in a report on Tuesday, March 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. Based on data from MarketBeat, Lennar presently has a consensus rating of "Hold" and a consensus target price of $150.07.

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.