NEOS Investment Management LLC Raises Stock Holdings in Lennar Co. (NYSE:LEN)

NEOS Investment Management LLC raised its holdings in Lennar Co. (NYSE:LEN - Free Report) by 28.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,183 shares of the construction company's stock after buying an additional 2,483 shares during the quarter. NEOS Investment Management LLC's holdings in Lennar were worth $1,525,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in LEN. Private Trust Co. NA increased its position in Lennar by 22.1% during the 3rd quarter. Private Trust Co. NA now owns 796 shares of the construction company's stock valued at $149,000 after purchasing an additional 144 shares during the period. Townsquare Capital LLC raised its stake in Lennar by 2.6% in the third quarter. Townsquare Capital LLC now owns 16,718 shares of the construction company's stock worth $3,134,000 after buying an additional 430 shares in the last quarter. CreativeOne Wealth LLC lifted its holdings 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 buying an additional 151 shares during the period. Verition Fund Management LLC boosted its position in Lennar by 147.6% during the 3rd quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company's stock valued at $12,978,000 after acquiring an additional 41,264 shares in the last quarter. Finally, Bamco Inc. NY raised its position in shares of Lennar by 2.6% in the 3rd quarter. Bamco Inc. NY now owns 711,023 shares of the construction company's stock worth $133,303,000 after acquiring an additional 17,834 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

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Lennar Stock Performance

NYSE:LEN traded down $0.41 during trading hours on Tuesday, reaching $114.37. The company had a trading volume of 2,068,431 shares, compared to its average volume of 2,481,631. The firm's 50 day moving average price is $123.51 and its 200-day moving average price is $150.47. The firm has a market cap of $30.37 billion, a price-to-earnings ratio of 7.98, a PEG ratio of 1.24 and a beta of 1.69. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. Lennar Co. has a 52 week low of $111.26 and a 52 week high of $187.61.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.44. The company had revenue of $7.63 billion during the quarter, compared to analysts' expectations of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. Lennar's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.57 earnings per share. On average, analysts forecast that Lennar Co. will post 12.48 EPS for the current year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 annualized dividend and a yield of 1.75%. Lennar's dividend payout ratio (DPR) is 14.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LEN shares. The Goldman Sachs Group reduced their price target on Lennar from $141.00 to $120.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 25th. UBS Group reduced their target price on shares of Lennar from $183.00 to $164.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Wedbush reissued a "neutral" rating and set a $158.00 price objective on shares of Lennar in a research note on Monday, March 17th. StockNews.com downgraded shares of Lennar from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, JPMorgan Chase & Co. dropped their price target on Lennar from $192.00 to $173.00 and set a "neutral" rating on the stock in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company 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.