Myriad Asset Management US LP Makes New Investment in Lennar Corporation $LEN

Myriad Asset Management US LP acquired a new position in shares of Lennar Corporation (NYSE:LEN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,736 shares of the construction company’s stock, valued at approximately $1,101,000.

A number of other institutional investors have also modified their holdings of the stock. Brighton Jones LLC raised its holdings in shares of Lennar by 27.9% during the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock valued at $236,000 after acquiring an additional 377 shares during the last quarter. Intech Investment Management LLC boosted its holdings in Lennar by 29.8% in the first quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company’s stock valued at $1,589,000 after purchasing an additional 3,177 shares during the period. Fifth Third Bancorp lifted its position in shares of Lennar by 6.1% during the 2nd quarter. Fifth Third Bancorp now owns 10,887 shares of the construction company’s stock worth $1,204,000 after purchasing an additional 628 shares during the last quarter. Accurate Wealth Management LLC boosted its holdings in Lennar by 2.8% in the second quarter. Accurate Wealth Management LLC now owns 6,609 shares of the construction company’s stock valued at $770,000 after purchasing an additional 179 shares in the last quarter. Finally, Ballentine Partners LLC increased its position in shares of Lennar by 51.0% during the second quarter. Ballentine Partners LLC now owns 4,420 shares of the construction company’s stock worth $489,000 after purchasing an additional 1,493 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Royal Bank Of Canada set a $88.00 price objective on shares of Lennar in a research report on Friday, January 9th. Citigroup dropped their price target on Lennar from $133.00 to $113.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Wall Street Zen downgraded shares of Lennar from a “hold” rating to a “sell” rating in a research note on Monday, December 8th. Citizens Jmp restated a “market perform” rating on shares of Lennar in a report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lennar in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have given a Hold rating and eight have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $106.38.

Lennar Price Performance

Shares of NYSE:LEN opened at $114.76 on Friday. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $144.24. The firm’s 50 day moving average is $116.42 and its two-hundred day moving average is $121.72. The company has a current ratio of 4.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $29.27 billion, a P/E ratio of 14.36, a PEG ratio of 1.73 and a beta of 1.42.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.27). Lennar had a return on equity of 9.27% and a net margin of 6.08%.The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.17 billion. During the same period in the prior year, the firm posted $4.03 EPS. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. Analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Wednesday, February 4th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, February 4th. Lennar’s dividend payout ratio (DPR) is presently 25.03%.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.