Asahi Life Asset Management CO. LTD. Makes New Investment in Lennar Co. (NYSE:LEN)

Asahi Life Asset Management CO. LTD. 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 Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,370 shares of the construction company's stock, valued at approximately $323,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in LEN. BlueStem Wealth Partners LLC acquired a new position in shares of Lennar during the fourth quarter worth $307,000. Levin Capital Strategies L.P. purchased a new stake in shares of Lennar during the 4th quarter worth $205,000. SVB Wealth LLC purchased a new stake in shares of Lennar in the 4th quarter worth about $427,000. Flputnam Investment Management Co. raised its stake in Lennar by 74.3% in the 4th quarter. Flputnam Investment Management Co. now owns 27,675 shares of the construction company's stock valued at $3,774,000 after purchasing an additional 11,794 shares during the last quarter. Finally, Tower Bridge Advisors raised its stake in Lennar by 2.2% in the 4th quarter. Tower Bridge Advisors now owns 70,236 shares of the construction company's stock valued at $9,578,000 after purchasing an additional 1,512 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Lennar Stock Up 2.4 %

Shares of NYSE:LEN traded up $2.89 during trading on Thursday, reaching $124.92. 1,332,144 shares of the stock traded hands, compared to its average volume of 2,317,549. The stock has a 50-day moving average of $129.60 and a two-hundred day moving average of $158.33. Lennar Co. has a 52-week low of $116.67 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 stock has a market cap of $33.17 billion, a P/E ratio of 8.71, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69.

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Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing the consensus estimate of $4.15 by ($0.12). Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $10.06 billion. During the same quarter in the previous year, the business earned $4.82 earnings per share. The firm's revenue for the quarter was down 9.3% on a year-over-year basis. As a group, sell-side analysts expect that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.60%. The ex-dividend date was Wednesday, January 29th. Lennar's payout ratio is 13.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. The Goldman Sachs Group decreased their price target on Lennar from $190.00 to $162.00 and set a "neutral" rating for the company in a report on Monday, December 23rd. BTIG Research cut Lennar from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. Royal Bank of Canada decreased their price objective on Lennar from $130.00 to $125.00 and set a "sector perform" rating for the company in a research report on Thursday, February 6th. Citigroup cut their price objective on Lennar from $196.00 to $150.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. Finally, Wolfe Research lowered Lennar from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $163.88.

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.