Lennar Co. (NYSE:LEN) Shares Bought by Synovus Financial Corp

Synovus Financial Corp increased its stake in Lennar Co. (NYSE:LEN) by 0.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,503 shares of the construction company’s stock after purchasing an additional 155 shares during the quarter. Synovus Financial Corp’s holdings in Lennar were worth $6,478,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LEN. Polianta Ltd purchased a new position in Lennar in the fourth quarter valued at about $900,000. Nordea Investment Management AB raised its holdings in Lennar by 21.4% during the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock worth $308,696,000 after purchasing an additional 397,492 shares during the last quarter. Pacer Advisors Inc. boosted its position in Lennar by 22.0% during the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock worth $446,110,000 after purchasing an additional 589,553 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Lennar by 51.8% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 26,382 shares of the construction company’s stock valued at $3,597,000 after purchasing an additional 9,000 shares during the last quarter. Finally, Sanctuary Advisors LLC increased its position in shares of Lennar by 9.4% in the third quarter. Sanctuary Advisors LLC now owns 43,049 shares of the construction company’s stock valued at $8,071,000 after buying an additional 3,712 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Up 0.7 %

Shares of LEN opened at $105.17 on Monday. The firm has a market cap of $27.74 billion, a PE ratio of 7.33, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The company’s fifty day moving average is $118.05 and its two-hundred day moving average is $144.73. Lennar Co. has a fifty-two week low of $98.42 and a fifty-two week high of $187.61.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.44. The firm had revenue of $7.63 billion during 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%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.57 earnings per share. Analysts forecast that Lennar Co. will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.90%. Lennar’s dividend payout ratio (DPR) is 14.57%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on LEN shares. Wedbush reissued a “neutral” rating and issued a $158.00 price objective on shares of Lennar in a research note on Monday, March 17th. Wells Fargo & Company dropped their price objective on shares of Lennar from $120.00 to $110.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. The Goldman Sachs Group reduced their target price on Lennar from $141.00 to $120.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 25th. Bank of America dropped their price target on Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Finally, Barclays reduced their price objective on Lennar from $121.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.