TrueMark Investments LLC Buys Shares of 9,757 Lennar Co. (NYSE:LEN)

TrueMark Investments LLC purchased 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 Securities & Exchange Commission. The institutional investor purchased 9,757 shares of the construction company’s stock, valued at approximately $1,331,000.

A number of other large investors have also modified their holdings of the company. The Manufacturers Life Insurance Company increased its stake in shares of Lennar by 1.3% in the third quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company’s stock valued at $1,106,798,000 after purchasing an additional 73,638 shares during the period. Pacer Advisors Inc. increased its position in Lennar by 22.0% in the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock valued at $446,110,000 after acquiring an additional 589,553 shares during the period. Nordea Investment Management AB raised its stake in Lennar by 21.4% during the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after acquiring an additional 397,492 shares in the last quarter. Bamco Inc. NY grew its stake in shares of Lennar by 2.6% in the third quarter. Bamco Inc. NY now owns 711,023 shares of the construction company’s stock worth $133,303,000 after purchasing an additional 17,834 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Lennar by 0.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 691,910 shares of the construction company’s stock valued at $129,719,000 after purchasing an additional 3,130 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group decreased their target price on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating for the company in a research report on Tuesday. BTIG Research lowered shares of Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Bank of America cut their target price on Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Wells Fargo & Company dropped their price objective on Lennar from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 18th. Finally, Barclays decreased their target price on Lennar from $121.00 to $110.00 and set an “equal weight” rating for the company in a research note on Monday. Fifteen investment 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $151.07.

Lennar Trading Up 0.2 %

Lennar stock opened at $117.81 on Wednesday. Lennar Co. has a 52 week low of $111.26 and a 52 week high of $187.61. 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 firm has a market capitalization of $31.28 billion, a price-to-earnings ratio of 8.22, a P/E/G ratio of 1.24 and a beta of 1.69. The company has a 50 day moving average price of $125.47 and a 200 day moving average price of $152.27.

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 for the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter in the previous year, the company posted $2.57 earnings per share. Lennar’s revenue for the quarter was up 4.4% compared to the same quarter last year. Research analysts forecast that Lennar Co. will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Wednesday, January 29th. Lennar’s dividend payout ratio is currently 14.57%.

Lennar Company 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.