Strategic Financial Concepts LLC Invests $4.02 Million in Lennar Co. (NYSE:LEN)

Strategic Financial Concepts LLC purchased a new stake in Lennar Co. (NYSE:LEN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 29,445 shares of the construction company's stock, valued at approximately $4,015,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its holdings in Lennar by 1.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company's stock valued at $1,106,798,000 after buying an additional 73,638 shares during the period. Pacer Advisors Inc. increased its holdings in Lennar by 22.0% in the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company's stock valued at $446,110,000 after buying an additional 589,553 shares during the period. Smead Capital Management Inc. grew its holdings in shares of Lennar by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company's stock worth $499,991,000 after purchasing an additional 89,896 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Lennar by 21.4% in the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company's stock worth $308,696,000 after purchasing an additional 397,492 shares during the last quarter. Finally, Bamco Inc. NY grew its holdings 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 purchasing an additional 17,834 shares during the last quarter. Institutional investors own 81.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LEN. JPMorgan Chase & Co. reduced their price target on shares of Lennar from $192.00 to $173.00 and set a "neutral" rating on the stock in a research report on Friday, December 13th. Keefe, Bruyette & Woods cut their target price on shares of Lennar from $210.00 to $170.00 and set an "outperform" rating on the stock in a research report on Friday, December 20th. Bank of America cut their target price on shares of Lennar from $150.00 to $140.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Wedbush restated a "neutral" rating and set a $164.00 target price on shares of Lennar in a research report on Thursday, December 19th. Finally, Citigroup cut their target price 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. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $167.19.

Lennar Stock Up 0.6 %

NYSE LEN traded up $0.67 during trading hours on Monday, reaching $122.61. 4,119,623 shares of the company's stock were exchanged, compared to its average volume of 3,601,097. The company's 50-day moving average is $141.34 and its two-hundred day moving average is $164.66. Lennar Co. has a one year low of $121.40 and a one year high of $193.80. 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 company has a market capitalization of $32.56 billion, a price-to-earnings ratio of 8.55, a price-to-earnings-growth ratio of 1.28 and a beta of 1.67.

Lennar (NYSE:LEN - Get Free Report) last posted its earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.15 by ($0.12). Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $10.06 billion. During the same period in the previous year, the company posted $4.82 earnings per share. Lennar's revenue for the quarter was down 9.3% compared to the same quarter last year. On average, analysts forecast that Lennar Co. will post 12.52 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.63%. Lennar's dividend payout ratio is currently 13.95%.

Lennar Company 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.