Intech Investment Management LLC Acquires 5,470 Shares of Lennar Corporation $LEN

Intech Investment Management LLC boosted its holdings in Lennar Corporation (NYSE:LEN) by 65.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,825 shares of the construction company’s stock after purchasing an additional 5,470 shares during the period. Intech Investment Management LLC’s holdings in Lennar were worth $1,743,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Hurley Capital LLC boosted its holdings in shares of Lennar by 1.8% in the 3rd quarter. Hurley Capital LLC now owns 6,976 shares of the construction company’s stock worth $879,000 after buying an additional 121 shares during the last quarter. KDT Advisors LLC boosted its stake in Lennar by 2.7% in the third quarter. KDT Advisors LLC now owns 4,654 shares of the construction company’s stock valued at $587,000 after acquiring an additional 123 shares during the last quarter. Miller Investment Management LP grew its position in shares of Lennar by 2.3% during the 3rd quarter. Miller Investment Management LP now owns 100,803 shares of the construction company’s stock valued at $12,705,000 after acquiring an additional 2,267 shares during the period. Palumbo Wealth Management LLC purchased a new stake in shares of Lennar during the 3rd quarter worth approximately $2,598,000. Finally, Monetta Financial Services Inc. purchased a new position in Lennar in the third quarter valued at approximately $945,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. lowered their target price on Lennar from $115.00 to $80.00 and set an “underweight” rating on the stock in a research note on Thursday, December 18th. Citigroup decreased their price objective on Lennar from $133.00 to $113.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Truist Financial began coverage on shares of Lennar in a report on Wednesday. They set a “hold” rating and a $110.00 price objective on the stock. UBS Group downgraded shares of Lennar from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $137.00 to $122.00 in a research note on Tuesday, January 6th. Finally, Citizens Jmp reissued a “market perform” rating on shares of Lennar in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Hold rating and eight have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $106.64.

Lennar Stock Performance

Lennar stock opened at $104.20 on Friday. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $144.24. The company has a current ratio of 4.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $25.74 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.55 and a beta of 1.43. The firm’s 50 day simple moving average is $113.28 and its 200 day simple moving average is $121.19.

Lennar (NYSE:LEN) last released its quarterly earnings results on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.27). Lennar had a net margin of 6.08% and a return on equity of 9.27%. The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.17 billion. During the same quarter last year, the firm earned $4.03 earnings per share. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, analysts expect that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Wednesday, February 4th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $2.00 annualized dividend and a dividend yield of 1.9%. Lennar’s dividend payout ratio (DPR) is presently 25.03%.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.