Intech Investment Management LLC Buys 5,470 Shares of Lennar Corporation $LEN

Intech Investment Management LLC grew its stake in shares of Lennar Corporation (NYSE:LEN) by 65.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 13,825 shares of the construction company’s stock after buying an additional 5,470 shares during the period. Intech Investment Management LLC’s holdings in Lennar were worth $1,743,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Hurley Capital LLC raised its position in Lennar by 1.8% during the third quarter. Hurley Capital LLC now owns 6,976 shares of the construction company’s stock valued at $879,000 after purchasing an additional 121 shares in the last quarter. KDT Advisors LLC increased its position in shares of Lennar by 2.7% during the 3rd quarter. KDT Advisors LLC now owns 4,654 shares of the construction company’s stock valued at $587,000 after purchasing an additional 123 shares during the last quarter. Miller Investment Management LP raised its holdings in shares of Lennar by 2.3% during the 3rd quarter. Miller Investment Management LP now owns 100,803 shares of the construction company’s stock valued at $12,705,000 after buying an additional 2,267 shares in the last quarter. Palumbo Wealth Management LLC bought a new stake in Lennar in the 3rd quarter worth approximately $2,598,000. Finally, Monetta Financial Services Inc. purchased a new stake in Lennar in the third quarter worth approximately $945,000. Institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LEN. BTIG Research set a $90.00 price objective on shares of Lennar in a report on Thursday, December 18th. Barclays lowered their price target on shares of Lennar from $98.00 to $88.00 and set an “underweight” rating for the company in a research note on Thursday, December 18th. Royal Bank Of Canada set a $88.00 price objective on Lennar in a research note on Friday, January 9th. Bank of America reiterated an “underperform” rating and issued a $95.00 price objective (down from $125.00) on shares of Lennar in a report on Thursday, December 18th. Finally, Truist Financial assumed coverage on Lennar in a report on Wednesday. They set a “hold” rating and a $110.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Hold rating and eight have issued a Sell rating to the company. According to data from MarketBeat.com, Lennar presently has an average rating of “Reduce” and an average price target of $106.64.

Lennar Stock Down 2.2%

LEN stock opened at $104.20 on Friday. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $144.24. The company has a market capitalization of $25.74 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 1.55 and a beta of 1.43. The business’s 50 day moving average price is $113.28 and its two-hundred day moving average price is $121.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.36 and a current ratio of 4.89.

Lennar (NYSE:LEN) last released its quarterly earnings results on Tuesday, December 16th. The construction company reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.27). The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.17 billion. Lennar had a net margin of 6.08% and a return on equity of 9.27%. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.03 earnings per share. As a group, analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Wednesday, February 4th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was 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.