Foster & Motley Inc. Has $3.67 Million Holdings in Lennar Co. (NYSE:LEN)

Foster & Motley Inc. cut its holdings in Lennar Co. (NYSE:LEN) by 6.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 24,646 shares of the construction company’s stock after selling 1,680 shares during the quarter. Foster & Motley Inc.’s holdings in Lennar were worth $3,673,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Coastline Trust Co boosted its position in Lennar by 80.8% during the fourth quarter. Coastline Trust Co now owns 24,515 shares of the construction company’s stock worth $3,654,000 after purchasing an additional 10,957 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Lennar by 6,297.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 662,277 shares of the construction company’s stock valued at $98,706,000 after acquiring an additional 651,924 shares during the period. PGGM Investments boosted its position in shares of Lennar by 16.3% in the third quarter. PGGM Investments now owns 88,872 shares of the construction company’s stock valued at $9,974,000 after acquiring an additional 12,469 shares during the period. Patton Fund Management Inc. bought a new stake in shares of Lennar in the fourth quarter valued at about $5,367,000. Finally, Ieq Capital LLC boosted its position in shares of Lennar by 7.0% in the third quarter. Ieq Capital LLC now owns 1,808 shares of the construction company’s stock valued at $203,000 after acquiring an additional 118 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Performance

Shares of LEN stock opened at $151.33 on Tuesday. The stock has a market capitalization of $42.12 billion, a PE ratio of 10.63, a PEG ratio of 1.40 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 $159.44 and its 200 day simple moving average is $143.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.47 and a quick ratio of 1.27.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, March 14th. The construction company reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.36. The firm had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.39 billion. Lennar had a return on equity of 15.90% and a net margin of 11.59%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.12 EPS. As a group, research analysts forecast that Lennar Co. will post 14.46 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Tuesday, April 23rd. Lennar’s payout ratio is 14.02%.

Insider Transactions at Lennar

In other news, Director Amy Banse bought 1,575 shares of the stock in a transaction dated Wednesday, April 10th. The shares were bought at an average cost of $157.00 per share, with a total value of $247,275.00. Following the completion of the transaction, the director now directly owns 11,859 shares of the company’s stock, valued at $1,861,863. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.36% of the stock is owned by insiders.

Analysts Set New Price Targets

LEN has been the subject of a number of recent research reports. Barclays boosted their target price on shares of Lennar from $173.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Oppenheimer reaffirmed a “market perform” rating on shares of Lennar in a research note on Friday, March 15th. Wedbush reissued an “underperform” rating and set a $144.00 target price on shares of Lennar in a research note on Tuesday, April 2nd. Wells Fargo & Company boosted their target price on Lennar from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Finally, Royal Bank of Canada lowered their target price on Lennar from $137.00 to $136.00 and set an “underweight” rating for the company in a research note on Thursday, March 14th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $163.88.

About Lennar

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.