Northwestern Mutual Wealth Management Co. raised its stake in shares of Lennar Co. (NYSE:LEN) by 254.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,553 shares of the construction company’s stock after buying an additional 3,268 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Lennar were worth $233,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Spirit of America Management Corp NY purchased a new stake in shares of Lennar during the first quarter worth about $256,000. Sanders Capital LLC raised its stake in shares of Lennar by 0.9% in the third quarter. Sanders Capital LLC now owns 8,511,852 shares of the construction company’s stock worth $366,937,000 after buying an additional 76,400 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Lennar by 37.6% in the fourth quarter. Bessemer Group Inc. now owns 24,075 shares of the construction company’s stock worth $1,034,000 after buying an additional 6,575 shares in the last quarter. United Services Automobile Association raised its stake in shares of Lennar by 1.6% in the third quarter. United Services Automobile Association now owns 59,067 shares of the construction company’s stock worth $2,501,000 after buying an additional 918 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of Lennar by 17.9% in the third quarter. HighTower Advisors LLC now owns 84,530 shares of the construction company’s stock worth $3,590,000 after buying an additional 12,853 shares in the last quarter. 79.04% of the stock is currently owned by institutional investors.
Shares of Lennar Co. (NYSE:LEN) traded up 2.05% during midday trading on Friday, reaching $52.15. The company’s stock had a trading volume of 2,286,337 shares. The firm has a market capitalization of $12.23 billion, a price-to-earnings ratio of 15.09 and a beta of 1.27. Lennar Co. has a 52 week low of $39.68 and a 52 week high of $53.79. The firm’s 50 day moving average is $51.00 and its 200 day moving average is $46.97.
Lennar (NYSE:LEN) last released its quarterly earnings data on Tuesday, March 21st. The construction company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. Lennar had a return on equity of 13.80% and a net margin of 8.33%. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period last year, the company posted $0.63 earnings per share. The firm’s revenue was up 17.2% compared to the same quarter last year. Equities analysts forecast that Lennar Co. will post $3.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 16th. Stockholders of record on Tuesday, May 2nd were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date was Friday, April 28th. Lennar’s payout ratio is 4.07%.
A number of analysts have recently issued reports on LEN shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $60.00 price target (up from $53.00) on shares of Lennar in a research note on Monday, March 20th. Zacks Investment Research lowered Lennar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 18th. JPMorgan Chase & Co. boosted their price objective on Lennar from $44.50 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 22nd. Citigroup Inc began coverage on Lennar in a research note on Tuesday, February 14th. They set a “neutral” rating and a $52.00 price objective on the stock. Finally, Deutsche Bank AG lowered their price objective on Lennar from $52.00 to $49.00 and set a “hold” rating on the stock in a research note on Thursday, March 23rd. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $54.13.
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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