NEXT Financial Group Inc boosted its stake in shares of Lennar Co. (NYSE:LEN) by 55.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,184 shares of the construction company’s stock after buying an additional 420 shares during the quarter. NEXT Financial Group Inc’s holdings in Lennar were worth $90,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. CI Investments Inc. acquired a new position in Lennar during the 3rd quarter worth about $27,000. Stuart Chaussee & Associates Inc. acquired a new position in Lennar during the 3rd quarter worth about $33,000. Anderson Fisher LLC bought a new position in shares of Lennar in the 3rd quarter worth about $35,000. Lenox Wealth Advisors LLC raised its position in shares of Lennar by 132.1% in the 4th quarter. Lenox Wealth Advisors LLC now owns 434 shares of the construction company’s stock worth $33,000 after acquiring an additional 247 shares in the last quarter. Finally, Heritage Wealth Advisors raised its position in shares of Lennar by 57.1% in the 4th quarter. Heritage Wealth Advisors now owns 550 shares of the construction company’s stock worth $42,000 after acquiring an additional 200 shares in the last quarter. 81.46% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the company. Bank of America lifted their price objective on Lennar from $87.00 to $97.00 in a research report on Friday, December 18th. Zacks Investment Research lowered Lennar from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a research report on Wednesday, February 17th. BTIG Research boosted their target price on Lennar from $99.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, December 18th. Argus boosted their target price on Lennar from $88.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, December 21st. Finally, Atlantic Securities started coverage on Lennar in a research report on Monday, November 2nd. They issued an “overweight” rating and a $93.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $87.10.
Shares of NYSE LEN opened at $84.98 on Tuesday. Lennar Co. has a twelve month low of $25.42 and a twelve month high of $95.72. The company has a quick ratio of 1.73, a current ratio of 11.44 and a debt-to-equity ratio of 0.33. The stock’s 50 day moving average price is $83.57 and its 200-day moving average price is $78.77. The company has a market capitalization of $26.57 billion, a PE ratio of 10.81, a PEG ratio of 1.04 and a beta of 1.56.
Lennar (NYSE:LEN) last issued its earnings results on Tuesday, December 15th. The construction company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.44. Lennar had a net margin of 10.96% and a return on equity of 14.17%. The business had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.64 billion. During the same quarter in the previous year, the firm posted $2.13 EPS. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, research analysts expect that Lennar Co. will post 8.5 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, February 12th. Stockholders of record on Friday, January 29th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, January 28th. This represents a $1.00 annualized dividend and a dividend yield of 1.18%. Lennar’s payout ratio is currently 12.99%.
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.
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