Magnus Financial Group LLC Grows Position in Lennar Co. (NYSE:LEN)

Magnus Financial Group LLC boosted its holdings in Lennar Co. (NYSE:LEN) by 13.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,616 shares of the construction company’s stock after acquiring an additional 308 shares during the quarter. Magnus Financial Group LLC’s holdings in Lennar were worth $300,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Castlekeep Investment Advisors LLC acquired a new position in Lennar during the fourth quarter worth about $218,533,000. Wellington Management Group LLP grew its position in Lennar by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company’s stock worth $441,769,000 after buying an additional 515,378 shares during the period. D1 Capital Partners L.P. grew its position in Lennar by 67.3% during the fourth quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company’s stock worth $88,116,000 after buying an additional 270,433 shares during the period. Man Group plc grew its position in Lennar by 112.5% during the fourth quarter. Man Group plc now owns 506,722 shares of the construction company’s stock worth $69,102,000 after buying an additional 268,209 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Lennar by 3.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company’s stock valued at $834,115,000 after buying an additional 213,003 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

LEN stock opened at $108.51 on Friday. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. Lennar Co. has a 52-week low of $98.42 and a 52-week high of $187.61. The stock’s 50 day moving average is $107.63 and its two-hundred day moving average is $126.06. The company has a market capitalization of $28.62 billion, a PE ratio of 7.57, a P/E/G ratio of 1.24 and a beta of 1.41.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same period in the previous year, the business earned $2.57 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts predict that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were issued a $0.50 dividend. The ex-dividend date was Wednesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.84%. Lennar’s dividend payout ratio (DPR) is 14.57%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on LEN shares. Barclays dropped their price target on Lennar from $121.00 to $110.00 and set an “equal weight” rating for the company in a research report on Monday, March 24th. Wall Street Zen upgraded Lennar from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. 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 report on Tuesday, March 25th. Evercore ISI restated an “in-line” rating and issued a $131.00 price target (down previously from $159.00) on shares of Lennar in a research report on Monday, March 24th. Finally, Wells Fargo & Company dropped their price target on Lennar from $120.00 to $110.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Fifteen research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.