112,349 Shares in Lennar Corporation $LEN Bought by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. purchased a new stake in Lennar Corporation (NYSE:LEN) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 112,349 shares of the construction company’s stock, valued at approximately $14,160,000. Lennar comprises approximately 0.7% of Coronation Fund Managers Ltd.’s holdings, making the stock its 29th largest position.

Other hedge funds also recently made changes to their positions in the company. Guerra Advisors Inc bought a new stake in Lennar in the third quarter valued at approximately $25,000. FNY Investment Advisers LLC acquired a new position in shares of Lennar in the 2nd quarter worth approximately $33,000. Rexford Capital Inc. bought a new stake in shares of Lennar in the 2nd quarter valued at $36,000. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Lennar during the second quarter worth $43,000. Finally, Cary Street Partners Financial LLC bought a new position in Lennar during the second quarter worth $47,000. 81.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on LEN. The Goldman Sachs Group reiterated a “neutral” rating and set a $125.00 price target on shares of Lennar in a report on Tuesday, January 13th. Royal Bank Of Canada set a $88.00 target price on Lennar in a research note on Friday, January 9th. Argus upgraded Lennar to a “strong-buy” rating in a report on Friday, January 16th. Evercore cut Lennar from an “in-line” rating to an “underperform” rating and cut their price target for the stock from $114.00 to $92.00 in a report on Thursday, December 18th. Finally, UBS Group lowered shares of Lennar from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $137.00 to $122.00 in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have issued a Hold rating and eight have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $106.38.

Lennar Price Performance

Shares of NYSE:LEN opened at $122.33 on Friday. The stock’s 50 day moving average is $113.02 and its 200-day moving average is $121.91. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $144.24. The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $30.21 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 1.78 and a beta of 1.44.

Lennar (NYSE:LEN) last released its quarterly earnings data on Tuesday, December 16th. The construction company reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.27). Lennar had a return on equity of 9.27% and a net margin of 6.08%.The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same quarter in the previous year, the company posted $4.03 EPS. The business’s quarterly revenue was down 5.8% on a year-over-year basis. Sell-side analysts forecast that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Wednesday, February 4th will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $2.00 annualized dividend and a yield of 1.6%. Lennar’s dividend payout ratio (DPR) is presently 25.03%.

Lennar Company Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.