Parkwood LLC Buys 21,670 Shares of Lennar Co. (NYSE:LEN)

Parkwood LLC increased its stake in shares of Lennar Co. (NYSE:LEN) by 55.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,097 shares of the construction company’s stock after purchasing an additional 21,670 shares during the quarter. Parkwood LLC’s holdings in Lennar were worth $8,332,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LEN. Armstrong Advisory Group Inc. boosted its holdings in Lennar by 69.4% in the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after purchasing an additional 75 shares during the last quarter. Wolff Wiese Magana LLC raised its position in shares of Lennar by 51.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company’s stock valued at $32,000 after buying an additional 79 shares during the period. Howard Capital Management Inc. raised its position in shares of Lennar by 0.3% during the 4th quarter. Howard Capital Management Inc. now owns 28,836 shares of the construction company’s stock valued at $3,932,000 after buying an additional 81 shares during the period. Premier Path Wealth Partners LLC grew its position in Lennar by 2.1% in the fourth quarter. Premier Path Wealth Partners LLC now owns 4,284 shares of the construction company’s stock worth $584,000 after acquiring an additional 87 shares during the period. Finally, Greenleaf Trust increased its stake in Lennar by 1.9% during the fourth quarter. Greenleaf Trust now owns 5,220 shares of the construction company’s stock worth $712,000 after acquiring an additional 95 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LEN. Bank of America cut their price objective on Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Barclays reduced their price target on shares of Lennar from $121.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Monday, March 24th. UBS Group lowered their target price on Lennar from $183.00 to $164.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Seaport Res Ptn upgraded shares of Lennar from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Finally, Royal Bank of Canada lowered their price target on Lennar from $125.00 to $122.00 and set a “sector perform” rating for the company in a report on Monday, March 24th. Fifteen investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $150.07.

Lennar Trading Down 0.2%

Shares of LEN stock opened at $112.38 on Wednesday. Lennar Co. has a 1-year low of $98.42 and a 1-year high of $187.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The firm’s 50-day simple moving average is $111.52 and its 200-day simple moving average is $133.61. The firm has a market cap of $29.65 billion, a P/E ratio of 7.84, a PEG ratio of 1.24 and a beta of 1.41.

Lennar (NYSE:LEN) last released its quarterly earnings data 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 return on equity of 13.93% and a net margin of 11.10%. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.44 billion. During the same period 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. As a group, equities analysts forecast that Lennar Co. will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.78%. Lennar’s dividend payout ratio is currently 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.