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

Manning & Napier Advisors LLC increased its stake in Lennar Co. (NYSE:LEN) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm 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 hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC increased its position in shares of Lennar by 23,048.0% in the third quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock worth $28,209,000 after purchasing an additional 149,812 shares during the period. Smead Capital Management Inc. grew its position in Lennar by 3.5% in the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after acquiring an additional 89,896 shares during the last quarter. Verition Fund Management LLC grew its position in Lennar by 147.6% in the third quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock valued at $12,978,000 after acquiring an additional 41,264 shares during the last quarter. Polianta Ltd bought a new position in Lennar in the fourth quarter valued at about $900,000. Finally, OneDigital Investment Advisors LLC grew its position in Lennar by 101.2% in the third quarter. OneDigital Investment Advisors LLC now owns 8,673 shares of the construction company’s stock valued at $1,626,000 after acquiring an additional 4,363 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on LEN shares. Keefe, Bruyette & Woods decreased their target price on Lennar from $210.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Citigroup cut their price target on Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. UBS Group cut their price target on Lennar from $205.00 to $192.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Bank of America cut their price target on Lennar from $150.00 to $140.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Royal Bank of Canada raised Lennar from an “underperform” rating to a “sector perform” rating and set a $130.00 price objective on the stock in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Lennar presently has a consensus rating of “Hold” and a consensus price target of $168.38.

Lennar Price Performance

Shares of LEN opened at $135.22 on Friday. Lennar Co. has a 52-week low of $128.41 and a 52-week 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. The business’s 50 day moving average price is $147.63 and its two-hundred day moving average price is $166.67. The firm 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 released its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing the consensus estimate of $4.15 by ($0.12). The firm had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $10.06 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company’s revenue was down 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.82 EPS. On average, equities analysts anticipate that Lennar Co. will post 13.02 EPS for the current year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, January 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.48%. 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.