Foster & Motley Inc. Reduces Stock Holdings in Lennar Co. (NYSE:LEN)

Foster & Motley Inc. reduced its stake in shares of Lennar Co. (NYSE:LEN) by 6.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,646 shares of the construction company’s stock after selling 1,680 shares during the quarter. Foster & Motley Inc.’s holdings in Lennar were worth $3,673,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of LEN. Ronald Blue Trust Inc. grew its position in shares of Lennar by 21.2% in the 3rd quarter. Ronald Blue Trust Inc. now owns 921 shares of the construction company’s stock worth $103,000 after acquiring an additional 161 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Lennar by 97.5% in the 3rd quarter. IFP Advisors Inc now owns 547 shares of the construction company’s stock worth $61,000 after buying an additional 270 shares in the last quarter. Ritholtz Wealth Management acquired a new position in shares of Lennar in the 3rd quarter worth $531,000. HB Wealth Management LLC grew its holdings in shares of Lennar by 33.2% in the 3rd quarter. HB Wealth Management LLC now owns 3,104 shares of the construction company’s stock worth $348,000 after acquiring an additional 774 shares during the last quarter. Finally, RFG Advisory LLC grew its holdings in shares of Lennar by 14.9% during the third quarter. RFG Advisory LLC now owns 3,768 shares of the construction company’s stock valued at $423,000 after buying an additional 488 shares in the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lennar

In related news, Director Amy Banse acquired 1,575 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were bought at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the transaction, the director now directly owns 11,859 shares in the company, valued at $1,861,863. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LEN shares. Oppenheimer reaffirmed a “market perform” rating on shares of Lennar in a research report on Friday, March 15th. Royal Bank of Canada lowered their price objective on Lennar from $137.00 to $136.00 and set an “underweight” rating on the stock in a research note on Thursday, March 14th. JPMorgan Chase & Co. decreased their price target on Lennar from $161.00 to $157.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Evercore ISI upped their price objective on Lennar from $224.00 to $238.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. Finally, Wedbush reissued an “underperform” rating and issued a $144.00 price target on shares of Lennar in a research note on Tuesday, April 2nd. Three analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Lennar has a consensus rating of “Moderate Buy” and an average price target of $163.88.

Lennar Stock Performance

NYSE LEN opened at $151.33 on Tuesday. Lennar Co. has a 52-week low of $102.90 and a 52-week high of $172.59. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.27 and a current ratio of 5.47. The company has a market capitalization of $42.12 billion, a P/E ratio of 10.63, a P/E/G ratio of 1.40 and a beta of 1.53. The company has a fifty day moving average of $159.44 and a 200-day moving average of $143.08.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, March 14th. The construction company reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.36. Lennar had a net margin of 11.59% and a return on equity of 15.90%. The company had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.39 billion. During the same quarter last year, the company earned $2.12 EPS. The firm’s revenue was up 12.7% compared to the same quarter last year. As a group, equities research analysts predict that Lennar Co. will post 14.46 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $2.00 annualized dividend and a dividend yield of 1.32%. Lennar’s dividend payout ratio is presently 14.02%.

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.