Magnus Financial Group LLC Invests $248,000 in Lennar Co. (NYSE:LEN)

Magnus Financial Group LLC acquired a new position in shares of Lennar Co. (NYSE:LEN) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 1,665 shares of the construction company’s stock, valued at approximately $248,000.

A number of other hedge funds have also bought and sold shares of LEN. Assenagon Asset Management S.A. boosted its position in shares of Lennar by 6,297.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 662,277 shares of the construction company’s stock valued at $98,706,000 after purchasing an additional 651,924 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Lennar by 47.6% during the 3rd quarter. AQR Capital Management LLC now owns 1,501,257 shares of the construction company’s stock worth $168,486,000 after buying an additional 484,056 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Lennar by 5.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,544,345 shares of the construction company’s stock worth $734,477,000 after buying an additional 366,983 shares during the period. Assetmark Inc. increased its stake in shares of Lennar by 828.9% in the 3rd quarter. Assetmark Inc. now owns 308,733 shares of the construction company’s stock valued at $34,649,000 after acquiring an additional 275,497 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Lennar by 97.4% during the 4th quarter. Jennison Associates LLC now owns 354,711 shares of the construction company’s stock valued at $52,866,000 after acquiring an additional 174,981 shares during the period. Institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

LEN opened at $155.47 on Tuesday. Lennar Co. has a 1 year low of $102.90 and a 1 year high of $172.59. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.47 and a quick ratio of 1.27. The company has a market capitalization of $43.27 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 1.44 and a beta of 1.53. The firm’s fifty day moving average price is $159.68 and its two-hundred day moving average price is $144.60.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, March 14th. The construction company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.36. The business had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.39 billion. Lennar had a net margin of 11.59% and a return on equity of 15.90%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.12 earnings per share. As a group, analysts anticipate that Lennar Co. will post 14.46 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Tuesday, April 23rd. Lennar’s payout ratio is 14.02%.

Analysts Set New Price Targets

LEN has been the subject of a number of research reports. Wells Fargo & Company raised their price target on shares of Lennar from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Deutsche Bank Aktiengesellschaft boosted their target price on Lennar from $110.00 to $122.00 and gave the company a “sell” rating in a research report on Thursday, March 14th. JMP Securities reiterated a “market outperform” rating and issued a $170.00 price target on shares of Lennar in a report on Friday, March 15th. Oppenheimer restated a “market perform” rating on shares of Lennar in a report on Friday, March 15th. Finally, Keefe, Bruyette & Woods increased their target price on Lennar from $175.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Lennar presently has an average rating of “Moderate Buy” and an average target price of $163.88.

Insider Buying and Selling

In related news, Director Amy Banse purchased 1,575 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were bought at an average cost of $157.00 per share, with a total value of $247,275.00. Following the acquisition, the director now owns 11,859 shares of the company’s stock, valued at $1,861,863. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 9.36% of the stock is currently owned by corporate insiders.

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.