Lennar Corporation $LEN Shares Acquired by River Road Asset Management LLC

River Road Asset Management LLC grew its position in Lennar Corporation (NYSE:LEN) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 461,696 shares of the construction company’s stock after acquiring an additional 43,186 shares during the quarter. River Road Asset Management LLC owned about 0.19% of Lennar worth $47,462,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Lennar by 14.6% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock worth $596,504,000 after purchasing an additional 603,004 shares during the last quarter. Viking Global Investors LP grew its holdings in shares of Lennar by 86.7% during the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock worth $279,135,000 after buying an additional 1,172,068 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Lennar by 12.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,127,225 shares of the construction company’s stock valued at $218,681,000 after buying an additional 228,247 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. lifted its stake in shares of Lennar by 90.9% in the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,963,373 shares of the construction company’s stock worth $201,835,000 after buying an additional 934,856 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new position in Lennar during the fourth quarter worth about $95,941,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LEN has been the subject of several research reports. Royal Bank Of Canada dropped their price objective on shares of Lennar from $88.00 to $85.00 and set an “underperform” rating for the company in a research note on Monday. UBS Group lowered their target price on Lennar from $107.00 to $94.00 and set a “neutral” rating on the stock in a report on Tuesday. Truist Financial dropped their price target on Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Tuesday, March 31st. Bank of America cut their price target on Lennar from $84.00 to $77.00 and set an “underperform” rating for the company in a report on Friday, June 12th. Finally, Citigroup lowered their price objective on Lennar from $113.00 to $104.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 17th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and ten have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $95.00.

Lennar Stock Performance

Lennar stock opened at $89.74 on Friday. The firm has a 50 day simple moving average of $89.55 and a 200-day simple moving average of $102.03. The stock has a market cap of $22.17 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.91 and a quick ratio of 0.91. Lennar Corporation has a 1-year low of $81.18 and a 1-year high of $144.24.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.24 by $0.07. The firm had revenue of $7.94 billion for the quarter, compared to analyst estimates of $8.08 billion. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.81 EPS. On average, analysts expect that Lennar Corporation will post 5.53 EPS for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, April 22nd. Lennar’s dividend payout ratio is 31.30%.

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.