Edgestream Partners L.P. Makes New $5.56 Million Investment in Lennar Co. (NYSE:LEN)

Edgestream Partners L.P. bought a new position in Lennar Co. (NYSE:LEN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 40,744 shares of the construction company’s stock, valued at approximately $5,556,000.

A number of other hedge funds have also bought and sold shares of the business. Callan Family Office LLC purchased a new stake in shares of Lennar during the 4th quarter valued at about $715,000. Candriam S.C.A. boosted its position in shares of Lennar by 47.9% during the 4th quarter. Candriam S.C.A. now owns 17,649 shares of the construction company’s stock valued at $2,407,000 after acquiring an additional 5,718 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in shares of Lennar by 15.5% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 1,852 shares of the construction company’s stock valued at $253,000 after acquiring an additional 249 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Lennar by 12.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,400 shares of the construction company’s stock valued at $1,418,000 after acquiring an additional 1,124 shares during the last quarter. Finally, Fidelis Capital Partners LLC raised its holdings in Lennar by 7.9% during the 4th quarter. Fidelis Capital Partners LLC now owns 2,457 shares of the construction company’s stock valued at $310,000 after buying an additional 180 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

NYSE:LEN opened at $125.24 on Friday. The company has a fifty day moving average of $129.11 and a two-hundred day moving average of $157.76. The stock has a market capitalization of $33.25 billion, a PE ratio of 8.73, a P/E/G ratio of 1.24 and a beta of 1.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. Lennar Co. has a fifty-two week low of $116.67 and a fifty-two week high of $187.61.

Lennar (NYSE:LEN) last issued its earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). The business had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. Lennar’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter last year, the company earned $4.82 earnings per share. As a group, research analysts forecast that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

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 1.60%. The ex-dividend date was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) is 13.95%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LEN. The Goldman Sachs Group lowered their target price on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday, December 23rd. Wells Fargo & Company cut their price objective on shares of Lennar from $145.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Seaport Res Ptn raised shares of Lennar from a “hold” rating to a “strong-buy” rating in a research report on Thursday. 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. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Lennar from $170.00 to $152.00 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $163.88.

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.