New York Life Investment Management LLC Has $4.38 Million Holdings in Lennar Co. (NYSE:LEN)

New York Life Investment Management LLC lessened its position in shares of Lennar Co. (NYSE:LEN) by 0.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 32,095 shares of the construction company’s stock after selling 128 shares during the quarter. New York Life Investment Management LLC’s holdings in Lennar were worth $4,377,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LEN. Holocene Advisors LP acquired a new stake in Lennar during the 3rd quarter valued at approximately $115,229,000. Pacer Advisors Inc. increased its position in Lennar by 22.0% during the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock valued at $446,110,000 after purchasing an additional 589,553 shares during the period. Nordea Investment Management AB increased its position in Lennar by 21.4% during the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after purchasing an additional 397,492 shares during the period. KBC Group NV increased its position in Lennar by 258.3% during the 3rd quarter. KBC Group NV now owns 494,848 shares of the construction company’s stock valued at $92,774,000 after purchasing an additional 356,731 shares during the period. Finally, Y Intercept Hong Kong Ltd grew its position in shares of Lennar by 2,774.5% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 123,142 shares of the construction company’s stock worth $16,793,000 after buying an additional 118,858 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Price Performance

LEN opened at $119.63 on Friday. 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 company has a market capitalization of $31.76 billion, a price-to-earnings ratio of 8.34, a P/E/G ratio of 1.24 and a beta of 1.67. The firm’s fifty day moving average price is $130.70 and its two-hundred day moving average price is $159.40. Lennar Co. has a 1 year low of $117.90 and a 1 year high of $193.80.

Lennar (NYSE:LEN) last posted 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). The firm had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $10.06 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. Lennar’s revenue was down 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.82 earnings per share. As a group, analysts anticipate that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) is currently 13.95%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LEN. Wolfe Research lowered shares of Lennar from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group lowered their price objective on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday, December 23rd. Wedbush reiterated a “neutral” rating and issued a $164.00 price objective on shares of Lennar in a research note on Thursday, December 19th. UBS Group lowered their price objective on shares of Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company lowered their price objective on shares of Lennar from $145.00 to $130.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $163.88.

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.