The Manufacturers Life Insurance Company Acquires 213,003 Shares of Lennar Co. (NYSE:LEN)

The Manufacturers Life Insurance Company grew its holdings in Lennar Co. (NYSE:LEN) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,116,558 shares of the construction company’s stock after purchasing an additional 213,003 shares during the quarter. Lennar makes up approximately 0.7% of The Manufacturers Life Insurance Company’s holdings, making the stock its 23rd biggest holding. The Manufacturers Life Insurance Company owned about 2.30% of Lennar worth $834,115,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Armstrong Advisory Group Inc. boosted its holdings in Lennar by 69.4% during the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after purchasing an additional 75 shares during the last quarter. Crews Bank & Trust bought a new position in Lennar in the fourth quarter valued at approximately $25,000. Hurley Capital LLC bought a new stake in shares of Lennar during the fourth quarter worth $26,000. SBI Securities Co. Ltd. acquired a new position in shares of Lennar during the fourth quarter worth $28,000. Finally, ORG Wealth Partners LLC acquired a new position in Lennar in the fourth quarter valued at $32,000. Institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wedbush restated a “neutral” rating and issued a $158.00 target price on shares of Lennar in a report on Monday, March 17th. Bank of America reduced their price target on Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Wells Fargo & Company dropped their price target on Lennar from $120.00 to $110.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Citigroup cut their target price on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, UBS Group cut their price target on shares of Lennar from $183.00 to $164.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Fifteen equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $150.07.

Lennar Trading Down 1.4 %

NYSE:LEN opened at $107.72 on Monday. Lennar Co. has a 12-month low of $98.42 and a 12-month high of $187.61. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The stock’s 50 day simple moving average is $114.45 and its 200-day simple moving average is $139.26. The firm has a market cap of $28.42 billion, a P/E ratio of 7.51, a PEG ratio of 1.24 and a beta of 1.51.

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

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, April 23rd. This represents a $2.00 annualized dividend and a dividend yield of 1.86%. Lennar’s dividend payout ratio is presently 14.57%.

Lennar 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; and development, construction, and management of multifamily rental properties.