Independent Advisor Alliance Purchases New Holdings in Lennar Co. (NYSE:LEN)

Independent Advisor Alliance acquired a new stake in Lennar Co. (NYSE:LEN) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 10,952 shares of the construction company’s stock, valued at approximately $1,494,000.

Several other large investors have also recently made changes to their positions in the business. Prime Capital Investment Advisors LLC increased its holdings in Lennar by 10.2% during the third quarter. Prime Capital Investment Advisors LLC now owns 4,193 shares of the construction company’s stock worth $786,000 after buying an additional 389 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in shares of Lennar by 101.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 8,673 shares of the construction company’s stock valued at $1,626,000 after acquiring an additional 4,363 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in shares of Lennar by 54.5% during the 3rd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,146 shares of the construction company’s stock worth $590,000 after purchasing an additional 1,110 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Lennar by 6.9% in the 3rd quarter. CIBC Asset Management Inc now owns 35,744 shares of the construction company’s stock worth $6,701,000 after purchasing an additional 2,320 shares during the period. Finally, Soditic Asset Management LLP lifted its stake in Lennar by 143.1% in the third quarter. Soditic Asset Management LLP now owns 29,290 shares of the construction company’s stock valued at $5,491,000 after purchasing an additional 17,240 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Price Performance

LEN stock opened at $118.06 on Friday. Lennar Co. has a one year low of $115.61 and a one year high of $187.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The stock has a market cap of $31.35 billion, a PE ratio of 8.23, a P/E/G ratio of 1.24 and a beta of 1.69. The firm has a 50 day simple moving average of $127.53 and a two-hundred day simple moving average of $155.67.

Lennar (NYSE:LEN) last released its earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $10.06 billion. During the same quarter in the previous year, the firm earned $4.82 EPS. The business’s quarterly revenue was down 9.3% compared to the same quarter last year. On average, analysts predict that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) is presently 13.95%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LEN shares. Keefe, Bruyette & Woods downgraded shares of Lennar from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $152.00 to $141.00 in a research note on Tuesday. Bank of America reduced their price objective on shares of Lennar from $150.00 to $140.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Barclays dropped their target price on Lennar from $135.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Seaport Res Ptn upgraded Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group dropped their price objective on Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, December 23rd. Fifteen equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lennar currently has a consensus rating of “Hold” and a consensus price target of $165.93.

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.