Select Equity Group L.P. Purchases Shares of 147,583 Lennar Co. (NYSE:LEN)

Select Equity Group L.P. bought a new stake in Lennar Co. (NYSE:LEN - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 147,583 shares of the construction company's stock, valued at approximately $20,126,000. Select Equity Group L.P. owned about 0.06% of Lennar as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Armstrong Advisory Group Inc. raised its position in shares of Lennar by 69.4% in the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company's stock valued at $25,000 after buying an additional 75 shares during the last quarter. Howard Capital Management Inc. raised its position in shares of Lennar by 0.3% in the fourth quarter. Howard Capital Management Inc. now owns 28,836 shares of the construction company's stock valued at $3,932,000 after buying an additional 81 shares during the last quarter. Premier Path Wealth Partners LLC raised its position in shares of Lennar by 2.1% in the fourth quarter. Premier Path Wealth Partners LLC now owns 4,284 shares of the construction company's stock valued at $584,000 after buying an additional 87 shares during the last quarter. Greenleaf Trust raised its position in shares of Lennar by 1.9% in the fourth quarter. Greenleaf Trust now owns 5,220 shares of the construction company's stock valued at $712,000 after buying an additional 95 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its position in shares of Lennar by 3.1% in the fourth quarter. Lake Street Advisors Group LLC now owns 3,201 shares of the construction company's stock valued at $436,000 after buying an additional 96 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Seaport Res Ptn upgraded shares of Lennar from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Royal Bank of Canada lowered their price target on shares of Lennar from $125.00 to $122.00 and set a "sector perform" rating for the company in a report on Monday, March 24th. The Goldman Sachs Group reduced their price target on shares of Lennar from $141.00 to $120.00 and set a "neutral" rating for the company in a research report on Tuesday, March 25th. Wells Fargo & Company lowered their price target on shares of Lennar from $120.00 to $110.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Finally, StockNews.com upgraded Lennar from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Fifteen investment 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. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $150.07.

Lennar Stock Performance

Lennar stock traded down $1.85 during mid-day trading on Tuesday, reaching $109.32. The company's stock had a trading volume of 2,344,903 shares, compared to its average volume of 2,620,578. The firm has a market cap of $28.84 billion, a price-to-earnings ratio of 7.62, a PEG ratio of 1.24 and a beta of 1.41. The business has a 50 day moving average price of $110.54 and a 200-day moving average price of $131.65. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. Lennar Co. has a twelve month low of $98.42 and a twelve month high of $187.61.

Lennar (NYSE:LEN - Get Free Report) last issued its earnings results on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same period in the previous year, the firm posted $2.57 earnings per share. Lennar's quarterly revenue was up 4.4% compared to the same quarter last year. Sell-side analysts predict that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently declared 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 1.83%. The ex-dividend date was Wednesday, April 23rd. Lennar's dividend payout ratio (DPR) is 14.57%.

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.