Allstate Corp Takes Position in Lennar Co. (NYSE:LEN)

Allstate Corp acquired a new position in shares of Lennar Co. (NYSE:LEN - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 7,211 shares of the construction company's stock, valued at approximately $983,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Crews Bank & Trust purchased a new stake in Lennar during the 4th quarter worth about $25,000. Armstrong Advisory Group Inc. lifted its stake in Lennar by 69.4% during the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company's stock worth $25,000 after purchasing an additional 75 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Lennar in the fourth quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new position in Lennar in the third quarter valued at approximately $39,000. Finally, Quarry LP raised its holdings in Lennar by 136.7% during the third quarter. Quarry LP now owns 232 shares of the construction company's stock worth $43,000 after purchasing an additional 134 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Stock Performance

Shares of LEN stock traded up $2.47 during trading hours on Friday, reaching $110.87. 7,728,176 shares of the company's stock were exchanged, compared to its average volume of 2,516,754. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The company's 50 day moving average is $121.78 and its two-hundred day moving average is $148.63. The company has a market cap of $29.44 billion, a P/E ratio of 7.73, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. Lennar Co. has a 1 year low of $106.20 and a 1 year high of $187.61.

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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, topping the consensus estimate of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm had revenue of $7.63 billion during the quarter, compared to analysts' expectations of $7.44 billion. During the same quarter in the prior year, the business posted $2.57 earnings per share. Lennar's revenue was up 4.4% compared to the same quarter last year. Equities research analysts anticipate that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Bank of America dropped their target price on shares of Lennar from $140.00 to $130.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 18th. Citigroup dropped their price objective on 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 reduced their target price on Lennar from $125.00 to $122.00 and set a "sector perform" rating for the company in a report on Monday, March 24th. BTIG Research downgraded Lennar from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. Finally, Evercore ISI reiterated an "in-line" rating and issued a $131.00 price objective (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 given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Lennar presently has an average rating of "Hold" and a consensus target price of $151.07.

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.