Sig Brokerage LP Buys New Shares in Lennar Co. (NYSE:LEN)

Sig Brokerage LP purchased a new position in Lennar Co. (NYSE:LEN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,876 shares of the construction company’s stock, valued at approximately $256,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Armstrong Advisory Group Inc. increased its position in Lennar by 69.4% in the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after buying an additional 75 shares in the last quarter. Crews Bank & Trust purchased a new stake in Lennar in the fourth quarter worth about $25,000. Hurley Capital LLC purchased a new stake in Lennar in the fourth quarter worth about $26,000. SBI Securities Co. Ltd. purchased a new stake in Lennar in the fourth quarter worth about $28,000. Finally, Itau Unibanco Holding S.A. boosted its stake in shares of Lennar by 611.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 299 shares of the construction company’s stock worth $41,000 after acquiring an additional 257 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Trading Up 1.6%

Shares of NYSE LEN opened at $110.15 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. The business’s 50 day moving average price is $110.89 and its 200-day moving average price is $133.00. Lennar Co. has a fifty-two week low of $98.42 and a fifty-two week high of $187.61. The company has a market cap of $29.06 billion, a price-to-earnings ratio of 7.68, a PEG ratio of 1.24 and a beta of 1.41.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, topping the consensus estimate of $1.70 by $0.44. The company had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. Lennar’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the business posted $2.57 EPS. On average, sell-side analysts expect that Lennar Co. will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, April 23rd. This represents a $2.00 annualized dividend and a yield of 1.82%. Lennar’s dividend payout ratio (DPR) is presently 14.57%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LEN. Wells Fargo & Company dropped their price objective on Lennar from $120.00 to $110.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Evercore ISI reaffirmed an “in-line” rating and issued a $131.00 price objective (down previously from $159.00) on shares of Lennar in a research note on Monday, March 24th. The Goldman Sachs Group dropped their price target on Lennar from $141.00 to $120.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Seaport Res Ptn raised Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Finally, StockNews.com raised Lennar from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Fifteen analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lennar currently has a consensus rating of “Hold” and an average target price of $150.07.

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.