Elo Mutual Pension Insurance Co Purchases 3,964 Shares of Lennar Co. (NYSE:LEN)

Elo Mutual Pension Insurance Co raised its position in Lennar Co. (NYSE:LEN) by 18.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,300 shares of the construction company’s stock after buying an additional 3,964 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Lennar were worth $3,450,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Verition Fund Management LLC boosted its holdings in shares of Lennar by 147.6% in the 3rd quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock worth $12,978,000 after acquiring an additional 41,264 shares in the last quarter. Polianta Ltd acquired a new position in Lennar in the fourth quarter worth $900,000. Nordea Investment Management AB grew its holdings in shares of Lennar by 21.4% during the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock worth $308,696,000 after purchasing an additional 397,492 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of Lennar by 71.7% in the third quarter. Kovitz Investment Group Partners LLC now owns 14,327 shares of the construction company’s stock valued at $2,686,000 after buying an additional 5,981 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in Lennar by 22.0% during the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock worth $446,110,000 after buying an additional 589,553 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. UBS Group lowered their price objective on shares of Lennar from $183.00 to $164.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Wedbush restated a “neutral” rating and issued a $158.00 price objective on shares of Lennar in a research report on Monday, March 17th. Barclays decreased their price objective on Lennar from $121.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Monday, March 24th. Bank of America dropped their target price on Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. lowered their price objective on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $151.07.

Lennar Trading Down 3.5 %

LEN opened at $113.83 on Friday. The firm’s fifty day moving average is $124.05 and its two-hundred day moving average is $151.33. The firm has a market cap of $30.22 billion, a PE ratio of 7.94, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. Lennar Co. has a twelve month low of $111.26 and a twelve month high of $187.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.44 billion. During the same period in the previous year, the company posted $2.57 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities research analysts anticipate that Lennar Co. will post 12.48 EPS for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 annualized dividend and a yield of 1.76%. Lennar’s dividend payout ratio (DPR) is currently 14.57%.

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.