Fox Run Management L.L.C. Makes New Investment in Lennar Co. (NYSE:LEN)

Fox Run Management L.L.C. acquired a new position in shares of Lennar Co. (NYSE:LEN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,135 shares of the construction company’s stock, valued at approximately $973,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LEN. Commerce Bank boosted its position in Lennar by 0.5% during the third quarter. Commerce Bank now owns 15,074 shares of the construction company’s stock worth $2,826,000 after purchasing an additional 74 shares during the period. Moors & Cabot Inc. boosted its position in Lennar by 2.2% during the third quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company’s stock worth $577,000 after purchasing an additional 66 shares during the period. Camden National Bank bought a new position in Lennar during the third quarter worth $250,000. Great Valley Advisor Group Inc. bought a new stake in shares of Lennar in the third quarter valued at about $235,000. Finally, Kingsview Wealth Management LLC boosted its position in shares of Lennar by 275.4% in the third quarter. Kingsview Wealth Management LLC now owns 5,113 shares of the construction company’s stock valued at $959,000 after acquiring an additional 3,751 shares during the period. 81.10% of the stock is owned by institutional investors.

Lennar Stock Down 4.1 %

Shares of NYSE LEN opened at $115.09 on Friday. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The company has a market cap of $30.56 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 1.24 and a beta of 1.69. Lennar Co. has a 12 month low of $111.26 and a 12 month high of $187.61. The stock has a 50-day moving average price of $126.09 and a two-hundred day moving average price of $153.31.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, topping the consensus estimate of $1.70 by $0.44. The firm had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.57 earnings per share. As a group, analysts forecast that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company 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. This represents a $2.00 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar’s dividend payout ratio is currently 13.95%.

Wall Street Analyst Weigh In

LEN has been the subject of a number of recent research reports. Bank of America reduced their target price on shares of Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. UBS Group reduced their target price on shares of Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. BTIG Research cut shares of Lennar from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Royal Bank of Canada reduced their target price on shares of Lennar from $130.00 to $125.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Finally, Wolfe Research cut shares of Lennar from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Fourteen equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $164.53.

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.