Knights of Columbus Asset Advisors LLC Boosts Stake in Lennar Corporation $LEN

Knights of Columbus Asset Advisors LLC raised its holdings in shares of Lennar Corporation (NYSE:LEN) by 18.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 67,880 shares of the construction company’s stock after acquiring an additional 10,502 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Lennar were worth $6,978,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Cibc World Market Inc. boosted its holdings in shares of Lennar by 993.0% in the 3rd quarter. Cibc World Market Inc. now owns 129,487 shares of the construction company’s stock worth $16,321,000 after purchasing an additional 117,640 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Lennar by 5.9% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 466,027 shares of the construction company’s stock worth $58,738,000 after purchasing an additional 26,117 shares in the last quarter. Boothbay Fund Management LLC boosted its holdings in shares of Lennar by 201.1% in the 3rd quarter. Boothbay Fund Management LLC now owns 24,004 shares of the construction company’s stock worth $3,025,000 after purchasing an additional 16,031 shares in the last quarter. Tounjian Advisory Partners LLC purchased a new position in shares of Lennar in the 4th quarter worth about $2,599,000. Finally, Coronation Fund Managers Ltd. purchased a new position in shares of Lennar in the 3rd quarter worth about $14,160,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Citigroup cut their price objective on Lennar from $113.00 to $104.00 and set a “neutral” rating for the company in a report on Tuesday, March 17th. Evercore cut their price objective on Lennar from $89.00 to $82.00 and set an “underperform” rating for the company in a report on Monday, April 13th. Seaport Research Partners reiterated a “sell” rating and issued a $74.00 price objective (down from $140.00) on shares of Lennar in a report on Tuesday, April 7th. Weiss Ratings cut Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 16th. Finally, Truist Financial cut their price objective on Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a report on Tuesday, March 31st. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and eight have given a Sell rating to the company. According to data from MarketBeat, Lennar has an average rating of “Reduce” and a consensus target price of $99.87.

Lennar Trading Up 1.7%

Shares of LEN stock opened at $90.82 on Thursday. The stock has a market capitalization of $22.43 billion, a PE ratio of 13.05, a P/E/G ratio of 1.97 and a beta of 1.41. Lennar Corporation has a 1-year low of $81.18 and a 1-year high of $144.24. The business has a 50-day moving average of $89.38 and a 200 day moving average of $105.71. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.07). The company had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. The company’s revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.14 earnings per share. As a group, sell-side analysts anticipate that Lennar Corporation will post 5.87 earnings per share for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, April 22nd. This represents a $2.00 annualized dividend and a yield of 2.2%. Lennar’s dividend payout ratio is currently 28.74%.

Lennar Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.