Headlands Technologies LLC Makes New Investment in Lennar Co. (NYSE:LEN)

Headlands Technologies LLC bought a new stake in shares of Lennar Co. (NYSE:LEN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,701 shares of the construction company's stock, valued at approximately $1,187,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Diametric Capital LP purchased a new position in Lennar during the fourth quarter valued at approximately $281,000. HighPoint Advisor Group LLC grew its position in shares of Lennar by 12.1% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,807 shares of the construction company's stock valued at $725,000 after purchasing an additional 626 shares in the last quarter. Cannell & Spears LLC increased its holdings in shares of Lennar by 1.0% in the fourth quarter. Cannell & Spears LLC now owns 514,970 shares of the construction company's stock worth $70,226,000 after purchasing an additional 5,311 shares during the period. Summit Financial LLC boosted its stake in Lennar by 6.4% during the fourth quarter. Summit Financial LLC now owns 2,799 shares of the construction company's stock valued at $382,000 after buying an additional 168 shares during the period. Finally, 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 in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Lennar Trading Up 2.3 %

Shares of Lennar stock traded up $2.47 on Friday, hitting $110.87. The stock had a trading volume of 7,728,176 shares, compared to its average volume of 2,516,754. The stock's 50-day simple moving average is $121.78 and its two-hundred day simple moving average is $148.63. Lennar Co. has a one year low of $106.20 and a one year high of $187.61. 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 stock has a market cap of $29.44 billion, a price-to-earnings ratio of 7.73, a PEG ratio of 1.24 and a beta of 1.51.

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

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.80%. Lennar's dividend payout ratio (DPR) is presently 14.57%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LEN shares. Keefe, Bruyette & Woods dropped their price target on Lennar from $141.00 to $128.00 and set a "market perform" rating for the company in a research report on Tuesday, March 25th. Seaport Res Ptn upgraded shares of Lennar from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Citigroup decreased their price target on shares of Lennar from $196.00 to $150.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Royal Bank of Canada dropped their price objective on shares of Lennar from $125.00 to $122.00 and set a "sector perform" rating for the company in a report on Monday, March 24th. Finally, Evercore ISI reissued an "in-line" rating and issued a $131.00 target price (down previously from $159.00) on shares of Lennar in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $151.07.

About Lennar

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.