Lennar Co. (NYSE:LEN) Shares Purchased by Pinebridge Investments L.P.

Pinebridge Investments L.P. boosted its holdings in Lennar Co. (NYSE:LENGet Rating) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 124,802 shares of the construction company’s stock after acquiring an additional 6,443 shares during the period. Pinebridge Investments L.P.’s holdings in Lennar were worth $14,497,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. CX Institutional lifted its holdings in Lennar by 18.3% in the third quarter. CX Institutional now owns 686 shares of the construction company’s stock valued at $64,000 after acquiring an additional 106 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in Lennar by 69.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 284 shares of the construction company’s stock valued at $33,000 after acquiring an additional 116 shares during the last quarter. Unison Advisors LLC lifted its holdings in Lennar by 0.3% in the fourth quarter. Unison Advisors LLC now owns 35,440 shares of the construction company’s stock valued at $4,117,000 after acquiring an additional 118 shares during the last quarter. Resonant Capital Advisors LLC raised its position in Lennar by 5.5% in the fourth quarter. Resonant Capital Advisors LLC now owns 2,382 shares of the construction company’s stock valued at $277,000 after purchasing an additional 124 shares during the period. Finally, Central Bank & Trust Co. raised its position in Lennar by 6.8% in the fourth quarter. Central Bank & Trust Co. now owns 2,046 shares of the construction company’s stock valued at $238,000 after purchasing an additional 131 shares during the period. Hedge funds and other institutional investors own 82.00% of the company’s stock.

A number of brokerages have issued reports on LEN. Royal Bank of Canada cut their target price on Lennar from $109.00 to $100.00 and set a “sector perform” rating on the stock in a research report on Friday, March 18th. BTIG Research cut their price objective on Lennar from $135.00 to $118.00 and set a “buy” rating on the stock in a research report on Friday, March 18th. Zacks Investment Research raised Lennar from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a research report on Monday, March 21st. StockNews.com lowered Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, April 2nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $130.00 price objective on shares of Lennar in a research report on Wednesday, March 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $110.27.

Shares of NYSE LEN traded up $2.73 during midday trading on Thursday, hitting $74.03. 180,597 shares of the company’s stock were exchanged, compared to its average volume of 2,926,160. The company has a debt-to-equity ratio of 0.22, a current ratio of 9.51 and a quick ratio of 0.78. Lennar Co. has a twelve month low of $70.67 and a twelve month high of $117.54. The company has a market cap of $21.88 billion, a PE ratio of 5.76, a P/E/G ratio of 4.72 and a beta of 1.47. The firm’s fifty day simple moving average is $81.33 and its 200-day simple moving average is $95.51.

Lennar (NYSE:LENGet Rating) last released its quarterly earnings results on Wednesday, March 16th. The construction company reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. The firm had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $6.19 billion. Lennar had a return on equity of 19.79% and a net margin of 14.04%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.04 EPS. Equities analysts anticipate that Lennar Co. will post 16.33 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 10th. Investors of record on Tuesday, April 26th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, April 25th. This represents a $1.50 dividend on an annualized basis and a yield of 2.03%. Lennar’s dividend payout ratio is presently 11.75%.

Lennar Company Profile (Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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