NEOS Investment Management LLC Grows Position in Lennar Co. (NYSE:LEN)

NEOS Investment Management LLC lifted its stake in shares of Lennar Co. (NYSE:LEN) by 28.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,183 shares of the construction company’s stock after buying an additional 2,483 shares during the period. NEOS Investment Management LLC’s holdings in Lennar were worth $1,525,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LEN. Holocene Advisors LP acquired a new stake in Lennar during the 3rd quarter worth about $115,229,000. Pacer Advisors Inc. boosted its position in Lennar by 22.0% in the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock valued at $446,110,000 after buying an additional 589,553 shares during the last quarter. Nordea Investment Management AB increased its holdings in Lennar by 21.4% in the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock worth $308,696,000 after buying an additional 397,492 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Lennar during the 4th quarter worth approximately $19,364,000. Finally, Y Intercept Hong Kong Ltd lifted its stake in Lennar by 2,774.5% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 123,142 shares of the construction company’s stock valued at $16,793,000 after acquiring an additional 118,858 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LEN has been the subject of several recent research reports. Citigroup reduced their target price on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Evercore ISI restated an “in-line” rating and issued a $131.00 target price (down previously from $159.00) on shares of Lennar in a research note on Monday, March 24th. Wedbush reiterated a “neutral” rating and set a $158.00 price target on shares of Lennar in a research report on Monday, March 17th. Barclays lowered 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. Finally, Wells Fargo & Company cut their target price on shares of Lennar from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Tuesday, March 18th. One 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $151.07.

Lennar Stock Down 3.5 %

LEN opened at $113.83 on Friday. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. Lennar Co. has a twelve month low of $111.26 and a twelve month high of $187.61. The company 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. The company has a 50-day moving average price of $124.05 and a 200 day moving average price of $151.13.

Lennar (NYSE:LEN) last released its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, beating 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 business had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter last year, the business posted $2.57 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. Sell-side analysts expect that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) is 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.