Twin Capital Management Inc. Trims Stock Position in Lennar Co. (NYSE:LEN)

Twin Capital Management Inc. cut its holdings in shares of Lennar Co. (NYSE:LEN) by 8.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 25,220 shares of the construction company’s stock after selling 2,300 shares during the quarter. Twin Capital Management Inc.’s holdings in Lennar were worth $3,439,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LEN. Polianta Ltd purchased a new position in Lennar in the fourth quarter valued at $900,000. Nordea Investment Management AB grew its holdings 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 worth $308,696,000 after acquiring an additional 397,492 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in shares of Lennar by 71.7% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 14,327 shares of the construction company’s stock worth $2,686,000 after purchasing an additional 5,981 shares during the last quarter. Pacer Advisors Inc. raised its stake in Lennar by 22.0% in the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock valued at $446,110,000 after buying an additional 589,553 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted 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 in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. BTIG Research cut Lennar from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Royal Bank of Canada lowered their price target on Lennar from $125.00 to $122.00 and set a “sector perform” rating on the stock in a report on Monday, March 24th. Citigroup decreased their price objective on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company cut their target price on shares of Lennar from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 18th. Finally, Seaport Res Ptn raised Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $151.07.

Lennar Stock Up 2.3 %

NYSE LEN opened at $110.87 on Monday. 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 fifty-two week low of $104.94 and a fifty-two week high of $187.61. The business has a 50 day moving average price of $121.78 and a two-hundred day moving average price of $148.35. The stock has a market cap of $29.44 billion, a PE ratio of 7.73, a P/E/G ratio of 1.24 and a beta of 1.51.

Lennar (NYSE:LEN) last released its quarterly earnings results 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 business had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.57 earnings per share. As a group, sell-side analysts predict that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.80%. Lennar’s dividend payout ratio (DPR) is 14.57%.

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.