Manning & Napier Advisors LLC Acquires 106 Shares of Lennar Co. (NYSE:LEN)

Manning & Napier Advisors LLC grew its position in Lennar Co. (NYSE:LEN) by 0.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,140 shares of the construction company’s stock after purchasing an additional 106 shares during the period. Manning & Napier Advisors LLC’s holdings in Lennar were worth $2,065,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oakworth Capital Inc. acquired a new stake in shares of Lennar in the 3rd quarter valued at $27,000. Wolff Wiese Magana LLC boosted its stake in shares of Lennar by 933.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. GHP Investment Advisors Inc. acquired a new stake in shares of Lennar in the 3rd quarter valued at $30,000. Asset Dedication LLC boosted its stake in shares of Lennar by 4,225.0% in the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after purchasing an additional 169 shares in the last quarter. Finally, Armstrong Advisory Group Inc. boosted its stake in shares of Lennar by 69.4% in the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on LEN shares. Barclays reduced their price target on shares of Lennar from $181.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. BTIG Research downgraded shares of Lennar from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. reduced their price target on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. Bank of America reduced their price target on shares of Lennar from $150.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, UBS Group reduced their price target on shares of Lennar from $205.00 to $192.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lennar has an average rating of “Hold” and an average target price of $168.38.

Lennar Stock Performance

Shares of LEN stock opened at $135.22 on Friday. The stock has a 50-day moving average of $147.63 and a 200-day moving average of $166.67. 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 current ratio of 4.71 and a quick ratio of 1.06. The stock has a market cap of $36.68 billion, a PE ratio of 9.43, a price-to-earnings-growth ratio of 1.32 and a beta of 1.66.

Lennar (NYSE:LEN) last posted its earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) 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 business had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $10.06 billion. During the same period in the previous year, the company posted $4.82 earnings per share. Lennar’s revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, sell-side analysts expect that Lennar Co. will post 13.02 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.48%. The ex-dividend date is Wednesday, January 29th. Lennar’s dividend payout ratio is 13.95%.

About Lennar

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.