Summit Global Investments Has $7.34 Million Holdings in Lennar Co. (NYSE:LEN)

Summit Global Investments lifted its holdings in Lennar Co. (NYSE:LEN - Free Report) by 207.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,219 shares of the construction company's stock after acquiring an additional 33,210 shares during the period. Summit Global Investments' holdings in Lennar were worth $7,336,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LEN. Assenagon Asset Management S.A. lifted its holdings in shares of Lennar by 6,297.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 662,277 shares of the construction company's stock worth $98,706,000 after acquiring an additional 651,924 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Lennar by 47.6% during the third quarter. AQR Capital Management LLC now owns 1,501,257 shares of the construction company's stock valued at $168,486,000 after buying an additional 484,056 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Lennar by 5.9% during the third quarter. The Manufacturers Life Insurance Company now owns 6,544,345 shares of the construction company's stock valued at $734,477,000 after buying an additional 366,983 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Lennar by 828.9% in the third quarter. Assetmark Inc. now owns 308,733 shares of the construction company's stock worth $34,649,000 after buying an additional 275,497 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of Lennar by 97.4% during the 4th quarter. Jennison Associates LLC now owns 354,711 shares of the construction company's stock worth $52,866,000 after acquiring an additional 174,981 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on LEN shares. Evercore ISI increased their target price on Lennar from $224.00 to $238.00 and gave the stock an "outperform" rating in a research note on Friday, March 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Lennar from $110.00 to $122.00 and gave the company a "sell" rating in a report on Thursday, March 14th. JMP Securities restated a "market outperform" rating and issued a $170.00 target price on shares of Lennar in a research note on Friday, March 15th. Barclays lifted their price target on shares of Lennar from $173.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, March 15th. Finally, UBS Group increased their price objective on Lennar from $190.00 to $198.00 and gave the stock a "buy" rating in a research note on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Lennar currently has an average rating of "Moderate Buy" and an average price target of $163.88.

Insider Transactions at Lennar

In other Lennar news, Director Amy Banse purchased 1,575 shares of the stock in a transaction on Wednesday, April 10th. The stock was acquired at an average price of $157.00 per share, with a total value of $247,275.00. Following the completion of the acquisition, the director now owns 11,859 shares in the company, valued at $1,861,863. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 9.36% of the company's stock.

Lennar Stock Up 1.8 %

LEN stock traded up $2.81 during trading on Thursday, reaching $155.28. 1,022,394 shares of the company traded hands, compared to its average volume of 2,077,549. The company has a market capitalization of $43.22 billion, a price-to-earnings ratio of 10.88, a price-to-earnings-growth ratio of 1.42 and a beta of 1.55. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.27 and a current ratio of 5.47. The business has a 50 day simple moving average of $159.74 and a 200 day simple moving average of $145.02. Lennar Co. has a 12 month low of $102.90 and a 12 month high of $172.59.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings data on Thursday, March 14th. The construction company reported $2.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.21 by $0.36. Lennar had a net margin of 11.59% and a return on equity of 15.90%. The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.39 billion. During the same quarter in the previous year, the firm earned $2.12 EPS. The company's quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities research analysts anticipate that Lennar Co. will post 14.46 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $2.00 annualized dividend and a dividend yield of 1.29%. Lennar's dividend payout ratio is presently 14.02%.

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.