Apollon Wealth Management LLC Trims Holdings in Lennar Co. (NYSE:LEN)

Apollon Wealth Management LLC cut its holdings in Lennar Co. (NYSE:LEN) by 17.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,766 shares of the construction company’s stock after selling 2,073 shares during the quarter. Apollon Wealth Management LLC’s holdings in Lennar were worth $1,456,000 at the end of the most recent quarter.

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

Insider Transactions at Lennar

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

Lennar Price Performance

NYSE LEN opened at $158.47 on Thursday. The company has a current ratio of 5.47, a quick ratio of 1.27 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $44.11 billion, a P/E ratio of 11.11, a P/E/G ratio of 1.48 and a beta of 1.55. Lennar Co. has a 12-month low of $102.90 and a 12-month high of $172.59. The firm’s fifty day simple moving average is $160.08 and its two-hundred day simple moving average is $146.69.

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

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.26%. Lennar’s dividend payout ratio is currently 14.02%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. 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. Wedbush reiterated an “underperform” rating and issued a $144.00 price target on shares of Lennar in a report on Tuesday, April 2nd. Wells Fargo & Company increased their target price on Lennar from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Citigroup upped their target price on shares of Lennar from $179.00 to $198.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, Barclays upped their target price on Lennar from $173.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $163.88.

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.