Lennar Co. (NYSE:LEN) Shares Acquired by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. increased its holdings in shares of Lennar Co. (NYSE:LEN) by 7.8% in the 4th quarter, HoldingsChannel reports. The firm owned 2,709 shares of the construction company’s stock after acquiring an additional 196 shares during the quarter. T. Rowe Price Investment Management Inc.’s holdings in Lennar were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LEN. Price T Rowe Associates Inc. MD boosted its stake in shares of Lennar by 0.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 351,926 shares of the construction company’s stock worth $47,993,000 after buying an additional 1,986 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake in shares of Lennar by 2.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 9,998 shares of the construction company’s stock worth $1,363,000 after purchasing an additional 227 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Lennar by 206.0% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 56,109 shares of the construction company’s stock valued at $7,652,000 after purchasing an additional 37,770 shares in the last quarter. Norinchukin Bank The lifted its stake in shares of Lennar by 8.3% in the 4th quarter. Norinchukin Bank The now owns 10,796 shares of the construction company’s stock valued at $1,472,000 after purchasing an additional 829 shares during the period. Finally, Ossiam grew its position in Lennar by 26,953.8% during the fourth quarter. Ossiam now owns 35,711 shares of the construction company’s stock valued at $4,870,000 after buying an additional 35,579 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Lennar from $120.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Seaport Res Ptn upgraded Lennar from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Wedbush reissued a “neutral” rating and issued a $158.00 price target on shares of Lennar in a report on Monday, March 17th. Evercore ISI reiterated an “in-line” rating and issued a $131.00 target price (down previously from $159.00) on shares of Lennar in a research report on Monday, March 24th. Finally, Royal Bank of Canada reduced their price target on shares of Lennar from $125.00 to $122.00 and set a “sector perform” rating for the company in a research report on Monday, March 24th. Fifteen investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lennar currently has an average rating of “Hold” and a consensus target price of $150.07.

Lennar Price Performance

NYSE:LEN opened at $107.72 on Monday. The stock has a 50 day moving average price of $114.45 and a 200 day moving average price of $139.26. The stock has a market cap of $28.42 billion, a PE ratio of 7.51, a P/E/G ratio of 1.24 and a beta of 1.51. 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 Co. has a one year low of $98.42 and a one year high of $187.61.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.44. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.44 billion. During the same quarter in the previous year, the company posted $2.57 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts expect that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Wednesday, April 23rd. Lennar’s payout ratio is presently 14.57%.

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.