Lennar Co. (NYSE:LEN) Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lifted its holdings in Lennar Co. (NYSE:LEN) by 2,774.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 123,142 shares of the construction company’s stock after buying an additional 118,858 shares during the quarter. Lennar comprises 1.1% of Y Intercept Hong Kong Ltd’s portfolio, making the stock its 2nd biggest holding. Y Intercept Hong Kong Ltd’s holdings in Lennar were worth $16,793,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its holdings in Lennar by 1.3% in the third 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. lifted its holdings in Lennar by 22.0% during the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock worth $446,110,000 after acquiring an additional 589,553 shares in the last quarter. Smead Capital Management Inc. increased its holdings in shares of Lennar by 3.5% in the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock worth $499,991,000 after acquiring an additional 89,896 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Lennar by 21.4% during the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after purchasing an additional 397,492 shares in the last quarter. Finally, Bamco Inc. NY grew its position 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 valued at $133,303,000 after purchasing an additional 17,834 shares during the period. 81.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. BTIG Research downgraded shares of Lennar from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Wells Fargo & Company dropped their price target on Lennar from $145.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Royal Bank of Canada cut their price objective on shares of Lennar from $130.00 to $125.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 6th. Bank of America lowered their price target on shares of Lennar from $150.00 to $140.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Finally, Wedbush reaffirmed a “neutral” rating and set a $164.00 price target on shares of Lennar in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Lennar currently has a consensus rating of “Hold” and a consensus target price of $163.88.

Lennar Stock Performance

Shares of LEN opened at $120.59 on Monday. The firm’s fifty day simple moving average is $133.10 and its two-hundred day simple moving average is $161.03. Lennar Co. has a 12 month low of $117.90 and a 12 month high of $193.80. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $32.02 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 1.24 and a beta of 1.67.

Lennar (NYSE:LEN) last released its earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing the consensus estimate of $4.15 by ($0.12). The business had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $4.82 EPS. As a group, analysts predict that Lennar Co. will post 12.48 EPS for the current year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Wednesday, January 29th. Lennar’s payout ratio is 13.95%.

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.