Lazard Asset Management LLC Buys 311 Shares of Lennar Co. (NYSE:LEN)

Lazard Asset Management LLC raised its stake in shares of Lennar Co. (NYSE:LENGet Rating) by 13.8% in the 4th quarter, Holdings Channel reports. The firm owned 2,572 shares of the construction company’s stock after acquiring an additional 311 shares during the period. Lazard Asset Management LLC’s holdings in Lennar were worth $298,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. CX Institutional boosted its holdings in shares of Lennar by 18.3% during the 3rd quarter. CX Institutional now owns 686 shares of the construction company’s stock valued at $64,000 after purchasing an additional 106 shares during the last quarter. Newbridge Financial Services Group Inc. raised its position in shares of Lennar by 69.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 284 shares of the construction company’s stock valued at $33,000 after buying an additional 116 shares in the last quarter. Unison Advisors LLC raised its position in shares of Lennar by 0.3% during the 4th quarter. Unison Advisors LLC now owns 35,440 shares of the construction company’s stock valued at $4,117,000 after buying an additional 118 shares in the last quarter. Resonant Capital Advisors LLC raised its position in shares of Lennar by 5.5% during the 4th quarter. Resonant Capital Advisors LLC now owns 2,382 shares of the construction company’s stock valued at $277,000 after buying an additional 124 shares in the last quarter. Finally, Central Bank & Trust Co. raised its position in shares of Lennar by 6.8% during the 4th quarter. Central Bank & Trust Co. now owns 2,046 shares of the construction company’s stock valued at $238,000 after buying an additional 131 shares in the last quarter. 82.00% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Lennar from $115.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Friday, March 18th. Royal Bank of Canada reduced their price objective on shares of Lennar from $109.00 to $100.00 and set a “sector perform” rating on the stock in a research report on Friday, March 18th. JPMorgan Chase & Co. reduced their price objective on shares of Lennar from $108.00 to $89.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 13th. Wedbush reissued an “outperform” rating and issued a $130.00 price objective on shares of Lennar in a research report on Wednesday, March 9th. Finally, Barclays reduced their price objective on shares of Lennar from $110.00 to $93.00 in a research report on Thursday, March 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $110.27.

NYSE LEN opened at $76.76 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.78 and a current ratio of 9.51. The firm’s 50 day moving average price is $80.91 and its 200-day moving average price is $95.16. Lennar Co. has a 52-week low of $70.67 and a 52-week high of $117.54. The company has a market cap of $22.68 billion, a PE ratio of 6.01, a P/E/G ratio of 4.55 and a beta of 1.47.

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

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 10th. Shareholders of record on Tuesday, April 26th were paid a $0.375 dividend. The ex-dividend date was Monday, April 25th. This represents a $1.50 annualized dividend and a yield of 1.95%. Lennar’s dividend payout ratio (DPR) is 11.75%.

About Lennar (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.

Further Reading

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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