Pacer Advisors Inc. Increases Stock Position in Lennar Co. (NYSE:LEN)

Pacer Advisors Inc. raised its holdings in shares of Lennar Co. (NYSE:LEN) by 22.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,271,319 shares of the construction company’s stock after purchasing an additional 589,553 shares during the period. Lennar makes up about 1.0% of Pacer Advisors Inc.’s investment portfolio, making the stock its 22nd largest holding. Pacer Advisors Inc.’s holdings in Lennar were worth $446,110,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Oakworth Capital Inc. purchased a new stake in shares of Lennar during the third quarter valued at $27,000. Wolff Wiese Magana LLC boosted its holdings in shares of Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after acquiring an additional 140 shares during the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of Lennar in the third quarter worth approximately $30,000. Asset Dedication LLC lifted its position in Lennar by 4,225.0% during the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after purchasing an additional 169 shares during the period. Finally, Armstrong Advisory Group Inc. boosted its holdings in Lennar by 69.4% in the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

LEN has been the topic of several research analyst reports. The Goldman Sachs Group lowered their price target on Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, December 23rd. Keefe, Bruyette & Woods lowered their target price on Lennar from $210.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. BTIG Research downgraded Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Royal Bank of Canada raised shares of Lennar from an “underperform” rating to a “sector perform” rating and set a $130.00 price objective on the stock in a report on Friday, January 10th. Finally, Wedbush reaffirmed a “neutral” rating and set a $164.00 target price on shares of Lennar in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $171.50.

Lennar Price Performance

LEN stock opened at $132.40 on Monday. The company has a market capitalization of $35.91 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 1.32 and a beta of 1.66. The company’s fifty day moving average price is $149.60 and its 200-day moving average price is $167.06. Lennar Co. has a one year low of $128.41 and a one year high of $193.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71.

Lennar (NYSE:LEN) last issued its quarterly earnings data 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 net margin of 11.10% and a return on equity of 13.93%. The firm had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $10.06 billion. During the same quarter in the previous year, the business earned $4.82 EPS. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, equities analysts anticipate that Lennar Co. will post 13.02 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.51%. Lennar’s dividend payout ratio is currently 13.95%.

Lennar Company 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.