TCTC Holdings LLC Raises Stock Holdings in Lennar Co. (NYSE:LEN)

TCTC Holdings LLC lifted its holdings in Lennar Co. (NYSE:LEN) by 458.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 447 shares of the construction company’s stock after purchasing an additional 367 shares during the period. TCTC Holdings LLC’s holdings in Lennar were worth $61,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of LEN. Armstrong Advisory Group Inc. raised its holdings in shares of 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 buying an additional 75 shares during the period. Crews Bank & Trust purchased a new stake in shares of Lennar in the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. purchased a new position in Lennar during the 4th quarter worth $28,000. ORG Wealth Partners LLC purchased a new position in Lennar during the 4th quarter worth $32,000. Finally, Wolff Wiese Magana LLC increased its holdings in Lennar by 51.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company’s stock worth $32,000 after purchasing an additional 79 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Stock Up 0.8 %

Lennar stock opened at $119.00 on Tuesday. 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 capitalization of $31.60 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 1.24 and a beta of 1.69. Lennar Co. has a 1-year low of $115.61 and a 1-year high of $187.61. The business has a fifty day moving average price of $127.21 and a 200-day moving average price of $154.87.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 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 firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same period in the prior year, the firm posted $4.82 EPS. The business’s revenue was down 9.3% compared to the same quarter last year. Equities research analysts forecast that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.68%. Lennar’s dividend payout ratio is currently 13.95%.

Analyst Upgrades and Downgrades

Several research firms have commented on LEN. Royal Bank of Canada reduced their price objective on Lennar from $130.00 to $125.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. reduced their price objective on Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Wells Fargo & Company reduced their price objective on Lennar from $145.00 to $130.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Wolfe Research cut Lennar from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Finally, UBS Group dropped their target price on Lennar from $205.00 to $192.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Fourteen equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $165.53.

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.