Cannell & Spears LLC Increases Position in Lennar Co. (NYSE:LEN)

Cannell & Spears LLC boosted its position in shares of Lennar Co. (NYSE:LEN - Free Report) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 514,970 shares of the construction company's stock after buying an additional 5,311 shares during the period. Lennar makes up about 1.4% of Cannell & Spears LLC's portfolio, making the stock its 14th biggest holding. Cannell & Spears LLC owned about 0.19% of Lennar worth $70,226,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. CreativeOne Wealth LLC increased its position in Lennar by 3.7% in the third quarter. CreativeOne Wealth LLC now owns 4,287 shares of the construction company's stock worth $804,000 after purchasing an additional 151 shares during the last quarter. Bamco Inc. NY raised its position in shares of Lennar by 2.6% during the 3rd quarter. Bamco Inc. NY now owns 711,023 shares of the construction company's stock valued at $133,303,000 after buying an additional 17,834 shares in the last quarter. Community Bank N.A. lifted its holdings in shares of Lennar by 14.6% in the 3rd quarter. Community Bank N.A. now owns 4,465 shares of the construction company's stock valued at $837,000 after acquiring an additional 570 shares during the last quarter. Holocene Advisors LP bought a new stake in Lennar during the third quarter worth approximately $115,229,000. Finally, Hilltop Holdings Inc. purchased a new stake in Lennar during the third quarter valued at approximately $533,000. Institutional investors own 81.10% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on LEN. Barclays cut their target price on Lennar from $121.00 to $110.00 and set an "equal weight" rating on the stock in a research report on Monday, March 24th. Keefe, Bruyette & Woods reduced their target price on shares of Lennar from $141.00 to $128.00 and set a "market perform" rating on the stock in a research note on Tuesday, March 25th. Bank of America dropped their price target on shares of Lennar from $140.00 to $130.00 and set a "neutral" rating for the company in a research note on Tuesday, March 18th. Citigroup reduced 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. Finally, UBS Group dropped their target price on Lennar from $183.00 to $164.00 and set a "buy" rating for the company in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $151.07.

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Lennar Stock Up 4.5 %

LEN stock traded up $4.86 during trading on Friday, hitting $113.26. 3,878,862 shares of the company's stock traded hands, compared to its average volume of 3,367,367. The business has a fifty day simple moving average of $122.21 and a two-hundred day simple moving average of $149.44. 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 firm has a market capitalization of $30.07 billion, a P/E ratio of 7.90, a PEG 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 $193.80.

Lennar (NYSE:LEN - Get Free Report) 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. 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 analyst estimates of $7.44 billion. During the same period in the previous year, the company posted $2.57 EPS. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. Sell-side analysts anticipate that Lennar Co. will post 12.48 EPS for the current year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors 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 1.77%. Lennar's dividend payout ratio (DPR) is presently 14.57%.

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.