Kestra Investment Management LLC Makes New Investment in Lennar Co. (NYSE:LEN)

Kestra Investment Management LLC purchased a new stake in Lennar Co. (NYSE:LEN) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 360 shares of the construction company’s stock, valued at approximately $49,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Lennar by 1.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company’s stock valued at $1,106,798,000 after buying an additional 73,638 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Lennar by 22.0% in the 4th 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 period. Smead Capital Management Inc. boosted its holdings in shares of Lennar by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after buying an additional 89,896 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Lennar by 21.4% in the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after buying an additional 397,492 shares during the period. Finally, Bamco Inc. NY boosted its holdings in shares of Lennar by 2.6% in the 3rd quarter. Bamco Inc. NY now owns 711,023 shares of the construction company’s stock valued at $133,303,000 after buying an additional 17,834 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LEN has been the subject of several research reports. Royal Bank of Canada decreased their price target on shares of Lennar from $130.00 to $125.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Citigroup cut their price objective on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. BTIG Research downgraded shares of Lennar from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. The Goldman Sachs Group cut their price objective on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, December 23rd. Finally, Barclays cut their price objective on shares of Lennar from $135.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $163.88.

Lennar Stock Performance

Shares of LEN opened at $120.59 on Friday. The firm’s 50 day moving average is $133.78 and its 200-day moving average is $161.49. The stock has a market capitalization of $32.02 billion, a P/E ratio of 8.41, a P/E/G ratio of 1.22 and a beta of 1.67. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. Lennar Co. has a 12-month low of $117.90 and a 12-month high of $193.80.

Lennar (NYSE:LEN) last announced its quarterly earnings data 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). The business had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.82 EPS. Equities research analysts anticipate that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.66%. Lennar’s dividend payout ratio is currently 13.95%.

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.