Concord Asset Management LLC VA Purchases 207 Shares of Lennar Co. (NYSE:LEN)

Concord Asset Management LLC VA lifted its position in shares of Lennar Co. (NYSE:LEN) by 5.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,938 shares of the construction company’s stock after purchasing an additional 207 shares during the quarter. Concord Asset Management LLC VA’s holdings in Lennar were worth $537,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of LEN. Caprock Group LLC lifted its stake in shares of Lennar by 5.4% in the 4th quarter. Caprock Group LLC now owns 13,992 shares of the construction company’s stock valued at $1,908,000 after purchasing an additional 718 shares during the period. Crews Bank & Trust bought a new position in shares of Lennar during the 4th quarter worth approximately $25,000. OLD National Bancorp IN increased its stake in shares of Lennar by 4.6% in the 4th quarter. OLD National Bancorp IN now owns 2,332 shares of the construction company’s stock valued at $318,000 after acquiring an additional 102 shares in the last quarter. Legacy Trust boosted its stake in Lennar by 1.2% during the fourth quarter. Legacy Trust now owns 49,481 shares of the construction company’s stock worth $6,748,000 after acquiring an additional 599 shares in the last quarter. Finally, New England Research & Management Inc. grew its holdings in Lennar by 115.6% in the fourth quarter. New England Research & Management Inc. now owns 12,827 shares of the construction company’s stock worth $1,749,000 after purchasing an additional 6,877 shares during the period. Institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LEN. UBS Group reduced their target price on Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Wedbush reissued a “neutral” rating and set a $164.00 target price on shares of Lennar in a research report on Thursday, December 19th. Barclays dropped their price target on shares of Lennar from $135.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. decreased their price objective on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Finally, The Goldman Sachs Group cut their target price on Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Lennar currently has an average rating of “Hold” and a consensus price target of $167.50.

Lennar Stock Performance

Shares of LEN opened at $131.25 on Friday. The business has a fifty day moving average of $146.97 and a 200 day moving average of $166.46. The firm has a market capitalization of $35.60 billion, a P/E ratio of 9.15, a PEG ratio of 1.33 and a beta of 1.66. 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.

Lennar (NYSE:LEN) last announced its quarterly earnings data 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 firm had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $10.06 billion. During the same period last year, the company earned $4.82 earnings per share. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Lennar Co. will post 12.52 EPS for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) is 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.