Golden State Equity Partners Has $518,000 Position in Lennar Co. (NYSE:LEN)

Golden State Equity Partners increased its holdings in shares of Lennar Co. (NYSE:LEN) by 9.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,475 shares of the construction company’s stock after acquiring an additional 305 shares during the quarter. Golden State Equity Partners’ holdings in Lennar were worth $518,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company grew its holdings in Lennar by 5.9% in the 3rd 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 in the last quarter. Pacer Advisors Inc. grew its holdings in Lennar by 3.0% in the 4th quarter. Pacer Advisors Inc. now owns 2,681,233 shares of the construction company’s stock valued at $399,611,000 after buying an additional 79,217 shares in the last quarter. Nordea Investment Management AB grew its holdings in Lennar by 4.4% in the 4th quarter. Nordea Investment Management AB now owns 1,700,016 shares of the construction company’s stock valued at $253,319,000 after buying an additional 72,146 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Lennar by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,542,363 shares of the construction company’s stock valued at $173,099,000 after buying an additional 6,803 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in Lennar by 47.6% in the 3rd 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 in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on LEN. UBS Group upped their price objective on Lennar from $190.00 to $198.00 and gave the company a “buy” rating in a report on Friday, March 15th. Barclays upped their target price on Lennar from $173.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Deutsche Bank Aktiengesellschaft upped their target price on Lennar from $110.00 to $122.00 and gave the company a “sell” rating in a research report on Thursday, March 14th. JMP Securities reiterated a “market outperform” rating and set a $170.00 target price on shares of Lennar in a research report on Friday, March 15th. Finally, Citigroup upped their target price on Lennar from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $163.88.

Lennar Trading Up 1.0 %

Lennar stock traded up $1.50 during trading hours on Friday, hitting $154.29. The stock had a trading volume of 1,348,527 shares, compared to its average volume of 2,075,435. The company has a quick ratio of 1.27, a current ratio of 5.47 and a debt-to-equity ratio of 0.11. The stock has a market cap of $42.95 billion, a price-to-earnings ratio of 10.80, a P/E/G ratio of 1.43 and a beta of 1.53. Lennar Co. has a one year low of $102.90 and a one year high of $172.59. The business’s 50 day simple moving average is $159.58 and its 200-day simple moving average is $143.85.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, March 14th. The construction company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.21 by $0.36. The firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.39 billion. Lennar had a return on equity of 15.90% and a net margin of 11.59%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the company earned $2.12 earnings per share. On average, equities analysts predict that Lennar Co. will post 14.46 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, April 23rd. This represents a $2.00 annualized dividend and a dividend yield of 1.30%. Lennar’s payout ratio is 14.02%.

Insider Activity

In related news, Director Amy Banse purchased 1,575 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was bought at an average price of $157.00 per share, with a total value of $247,275.00. Following the completion of the purchase, the director now owns 11,859 shares in the company, valued at approximately $1,861,863. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 9.36% of the company’s stock.

Lennar Company 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.