Fideuram Asset Management Ireland dac Invests $10.25 Million in Lennar Corporation $LEN

Fideuram Asset Management Ireland dac purchased a new position in shares of Lennar Corporation (NYSE:LEN) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 99,719 shares of the construction company’s stock, valued at approximately $10,251,000. Lennar comprises 0.8% of Fideuram Asset Management Ireland dac’s holdings, making the stock its 27th largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in LEN. Viking Global Investors LP lifted its holdings in shares of Lennar by 86.7% during the 2nd quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock worth $279,135,000 after acquiring an additional 1,172,068 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Lennar by 14.6% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock worth $596,504,000 after acquiring an additional 603,004 shares during the period. Todd Asset Management LLC bought a new stake in shares of Lennar during the 3rd quarter worth approximately $26,371,000. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Lennar by 319.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 274,173 shares of the construction company’s stock worth $34,557,000 after acquiring an additional 208,800 shares during the period. Finally, Duquesne Family Office LLC lifted its holdings in shares of Lennar by 210.8% during the 3rd quarter. Duquesne Family Office LLC now owns 279,424 shares of the construction company’s stock worth $35,219,000 after acquiring an additional 189,524 shares during the period. Institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

Shares of NYSE:LEN opened at $89.73 on Friday. The firm has a 50 day simple moving average of $89.23 and a 200 day simple moving average of $105.48. The company has a market cap of $22.16 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 2.01 and a beta of 1.41. Lennar Corporation has a one year low of $81.18 and a one year high of $144.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.07). Lennar had a return on equity of 7.80% and a net margin of 5.39%.The business had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the prior year, the firm earned $2.14 EPS. The business’s revenue for the quarter was down 13.3% compared to the same quarter last year. Research analysts predict that Lennar Corporation will post 5.87 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. Lennar’s payout ratio is currently 28.74%.

Analysts Set New Price Targets

Several brokerages recently commented on LEN. Barclays dropped their price objective on shares of Lennar from $85.00 to $80.00 and set an “underweight” rating for the company in a research note on Wednesday, April 8th. Wells Fargo & Company dropped their price objective on shares of Lennar from $100.00 to $90.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Argus dropped their price objective on shares of Lennar from $140.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. The Goldman Sachs Group dropped their price objective on shares of Lennar from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, April 10th. Finally, Citigroup dropped their price objective on shares of Lennar from $113.00 to $104.00 and set a “neutral” rating for the company in a research note on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and eight have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $99.87.

Lennar Company Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.