Lennar Co. (NYSE:LEN) Shares Purchased by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC raised its position in Lennar Co. (NYSE:LEN) by 36.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,890 shares of the construction company’s stock after purchasing an additional 501 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Lennar were worth $258,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Holocene Advisors LP acquired a new stake in Lennar during the 3rd quarter worth approximately $115,229,000. Nordea Investment Management AB grew its stake in Lennar by 21.4% during the 4th 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 in the last quarter. KBC Group NV raised its position in Lennar by 258.3% in the 3rd quarter. KBC Group NV now owns 494,848 shares of the construction company’s stock valued at $92,774,000 after purchasing an additional 356,731 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Lennar by 23,048.0% in the third quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock valued at $28,209,000 after acquiring an additional 149,812 shares in the last quarter. Finally, Prana Capital Management LP lifted its stake in Lennar by 68.6% in the third quarter. Prana Capital Management LP now owns 288,661 shares of the construction company’s stock worth $54,118,000 after acquiring an additional 117,430 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Performance

Shares of LEN stock opened at $132.40 on Monday. The stock has a fifty day moving average price of $149.60 and a 200 day moving average price of $167.06. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. The stock has a market cap of $35.91 billion, a PE ratio of 9.23, a P/E/G ratio of 1.32 and a beta of 1.66. Lennar Co. has a 1 year low of $128.41 and a 1 year high of $193.80.

Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($0.12). Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same period last year, the firm earned $4.82 EPS. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. Sell-side analysts forecast that Lennar Co. will post 13.02 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.51%. Lennar’s dividend payout ratio (DPR) is 13.95%.

Wall Street Analysts Forecast Growth

LEN has been the subject of a number of analyst reports. Citigroup lowered their target price on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. UBS Group lowered their target price on shares of Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Wedbush reissued a “neutral” rating and issued a $164.00 price target on shares of Lennar in a research report on Thursday, December 19th. BTIG Research lowered Lennar from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, The Goldman Sachs Group decreased their target price on Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, December 23rd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $171.50.

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.