Lennar Co. (NYSE:LEN) Shares Bought by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT raised its stake in Lennar Co. (NYSE:LEN) by 12.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 396,289 shares of the construction company’s stock after acquiring an additional 42,949 shares during the period. Sound Shore Management Inc. CT owned 0.15% of Lennar worth $54,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of LEN. Verition Fund Management LLC raised its holdings in shares of Lennar by 147.6% in the third quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock valued at $12,978,000 after buying an additional 41,264 shares during the last quarter. Polianta Ltd purchased a new stake in shares of Lennar in the fourth quarter valued at about $900,000. Nordea Investment Management AB raised its holdings in shares of Lennar by 21.4% in the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after buying an additional 397,492 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Lennar by 13.8% in the third quarter. Daiwa Securities Group Inc. now owns 30,278 shares of the construction company’s stock valued at $5,677,000 after buying an additional 3,674 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC raised its holdings in shares of Lennar by 71.7% in the third quarter. Kovitz Investment Group Partners LLC now owns 14,327 shares of the construction company’s stock valued at $2,686,000 after buying an additional 5,981 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on LEN. JPMorgan Chase & Co. cut their price target on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, December 13th. UBS Group cut their price target on shares of Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Keefe, Bruyette & Woods cut shares of Lennar from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $152.00 to $141.00 in a report on Tuesday, March 11th. Royal Bank of Canada cut their price target on shares of Lennar from $130.00 to $125.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Finally, The Goldman Sachs Group cut their price target on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, December 23rd. Fourteen analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lennar currently has an average rating of “Hold” and a consensus target price of $164.53.

Lennar Stock Down 4.1 %

LEN stock opened at $115.09 on Monday. The company’s 50 day simple moving average is $126.09 and its 200-day simple moving average is $153.13. The firm has a market capitalization of $30.56 billion, a PE ratio of 8.03, a P/E/G ratio of 1.24 and a beta of 1.69. Lennar Co. has a 12 month low of $111.26 and a 12 month high of $187.61. 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 released its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, beating the consensus estimate of $1.70 by $0.44. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.44 billion. During the same period in the prior year, the business earned $2.57 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Equities analysts expect that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company 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. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.74%. Lennar’s dividend payout ratio (DPR) is currently 13.95%.

Lennar Profile

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.