Lennar Co. (NYSE:LEN) Stock Position Decreased by New York Life Investment Management LLC

New York Life Investment Management LLC cut its stake in shares of Lennar Co. (NYSE:LEN) by 1.7% during the fourth quarter, Holdings Channel reports. The firm owned 35,545 shares of the construction company’s stock after selling 602 shares during the quarter. New York Life Investment Management LLC’s holdings in Lennar were worth $5,298,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Commonwealth Equity Services LLC raised its holdings in shares of Lennar by 50.7% during the third quarter. Commonwealth Equity Services LLC now owns 40,161 shares of the construction company’s stock valued at $4,507,000 after acquiring an additional 13,506 shares during the period. SVB Wealth LLC increased its position in Lennar by 4.5% in the 3rd quarter. SVB Wealth LLC now owns 4,243 shares of the construction company’s stock worth $476,000 after purchasing an additional 184 shares during the last quarter. Raymond James & Associates raised its stake in shares of Lennar by 5.2% during the 3rd quarter. Raymond James & Associates now owns 261,551 shares of the construction company’s stock worth $29,354,000 after purchasing an additional 12,936 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Lennar by 85.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 27,631 shares of the construction company’s stock valued at $3,101,000 after buying an additional 12,758 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its stake in shares of Lennar by 9.4% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 2,888 shares of the construction company’s stock valued at $324,000 after buying an additional 247 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

LEN has been the topic of several analyst reports. Royal Bank of Canada lowered their target price on shares of Lennar from $137.00 to $136.00 and set an “underweight” rating on the stock in a research report on Thursday, March 14th. Wells Fargo & Company raised their price objective on Lennar from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Evercore ISI upped their target price on Lennar from $224.00 to $238.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. UBS Group boosted their price objective on shares of Lennar from $190.00 to $198.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Finally, Citigroup raised their target price on shares of Lennar from $179.00 to $198.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Lennar currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.88.

Insider Transactions at Lennar

In related news, Director Amy Banse purchased 1,575 shares of the stock in a transaction on Wednesday, April 10th. The shares were purchased at an average cost of $157.00 per share, for a total transaction 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 approximately $1,861,863. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.36% of the stock is currently owned by insiders.

Lennar Stock Performance

LEN opened at $158.10 on Friday. The stock has a market cap of $44.01 billion, a PE ratio of 11.08, a P/E/G ratio of 1.45 and a beta of 1.55. Lennar Co. has a 1 year low of $102.90 and a 1 year high of $172.59. The stock’s 50 day simple moving average is $159.74 and its 200-day simple moving average is $145.02. The company has a current ratio of 5.47, a quick ratio of 1.27 and a debt-to-equity ratio of 0.11.

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

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $2.00 annualized dividend and a dividend yield of 1.27%. Lennar’s dividend payout ratio is currently 14.02%.

Lennar Company 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.