Sound Shore Management Inc. CT Buys 42,949 Shares of Lennar Co. (NYSE:LEN)

Sound Shore Management Inc. CT increased its stake in Lennar Co. (NYSE:LEN - Free Report) by 12.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 396,289 shares of the construction company's stock after purchasing an additional 42,949 shares during the quarter. Sound Shore Management Inc. CT owned approximately 0.15% of Lennar worth $54,042,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of LEN. Verition Fund Management LLC increased its stake in shares of Lennar by 147.6% in the third quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company's stock worth $12,978,000 after purchasing an additional 41,264 shares in the last quarter. Polianta Ltd bought a new stake in Lennar during the 4th quarter valued at $900,000. Nordea Investment Management AB lifted its position in shares of Lennar by 21.4% during the fourth 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. Daiwa Securities Group Inc. boosted its holdings in shares of Lennar by 13.8% in the third quarter. Daiwa Securities Group Inc. now owns 30,278 shares of the construction company's stock worth $5,677,000 after acquiring an additional 3,674 shares during the period. Finally, Kovitz Investment Group Partners LLC grew its position in shares of Lennar by 71.7% in the third quarter. Kovitz Investment Group Partners LLC now owns 14,327 shares of the construction company's stock valued at $2,686,000 after purchasing an additional 5,981 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Remove Ads

Lennar Trading Down 3.5 %

Shares of LEN stock traded down $4.15 on Friday, hitting $113.83. 3,553,781 shares of the company's stock traded hands, compared to its average volume of 2,479,698. The stock has a market capitalization of $30.22 billion, a price-to-earnings ratio of 7.94, a P/E/G ratio of 1.24 and a beta of 1.69. The company's fifty day simple moving average is $124.05 and its 200 day simple moving average is $151.33. Lennar Co. has a one year low of $111.26 and a one year 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.

Lennar (NYSE:LEN - Get Free Report) last announced 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. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm had revenue of $7.63 billion for the quarter, compared to analysts' expectations of $7.44 billion. During the same period last year, the firm earned $2.57 earnings per share. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts forecast that Lennar Co. will post 12.48 EPS for the current year.

Lennar Announces Dividend

The business also recently disclosed 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Wednesday, January 29th. Lennar's dividend payout ratio (DPR) is presently 14.57%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. BTIG Research lowered shares of Lennar from a "buy" rating to a "neutral" rating in a research report on Friday, December 20th. JPMorgan Chase & Co. reduced their price target on shares of Lennar from $192.00 to $173.00 and set a "neutral" rating for the company in a research report on Friday, December 13th. UBS Group lowered their price objective on Lennar from $183.00 to $164.00 and set a "buy" rating on the stock in a research report on Monday. 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 research report on Monday. Finally, Wedbush reaffirmed a "neutral" rating and issued a $158.00 price target on shares of Lennar in a report on Monday, March 17th. Fifteen investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target 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.