Myriad Asset Management US LP Invests $2.19 Million in Lennar Co. (NYSE:LEN)

Myriad Asset Management US LP acquired a new position in shares of Lennar Co. (NYSE:LEN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 16,034 shares of the construction company’s stock, valued at approximately $2,187,000. Lennar comprises about 1.5% of Myriad Asset Management US LP’s holdings, making the stock its 16th biggest holding.

Several other institutional investors have also modified their holdings of LEN. Oakworth Capital Inc. purchased a new stake in Lennar in the 3rd quarter valued at $27,000. Wolff Wiese Magana LLC raised its position in Lennar by 933.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. GHP Investment Advisors Inc. acquired a new position in Lennar in the 3rd quarter valued at $30,000. Asset Dedication LLC increased its stake in Lennar by 4,225.0% in the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after buying an additional 169 shares during the period. Finally, Crews Bank & Trust acquired a new position in Lennar in the 4th quarter valued at $25,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

LEN has been the topic of several recent research reports. Keefe, Bruyette & Woods dropped their price objective on shares of Lennar from $170.00 to $152.00 and set an “outperform” rating on the stock in a research note on Tuesday. Citigroup dropped their price objective on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Royal Bank of Canada dropped their price objective on shares of Lennar from $130.00 to $125.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. UBS Group lowered their price target on shares of Lennar from $205.00 to $192.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Bank of America lowered their price target on shares of Lennar from $150.00 to $140.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $166.06.

Lennar Trading Up 0.1 %

Shares of LEN stock opened at $123.85 on Friday. The firm’s 50-day simple moving average is $137.60 and its 200-day simple moving average is $163.38. The firm has a market cap of $32.88 billion, a P/E ratio of 8.64, a PEG ratio of 1.28 and a beta of 1.67. Lennar Co. has a 1-year low of $119.25 and a 1-year high of $193.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06.

Lennar (NYSE:LEN) last posted its earnings results 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 business had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period last year, the company posted $4.82 EPS. As a group, equities analysts forecast that Lennar Co. will post 12.52 EPS for the current year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) is presently 13.95%.

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.