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

Fideuram Asset Management Ireland dac bought a new stake in Lennar Corporation (NYSE:LEN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 99,719 shares of the construction company’s stock, valued at approximately $10,251,000. Lennar accounts for about 0.8% of Fideuram Asset Management Ireland dac’s investment portfolio, making the stock its 27th biggest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cibc World Market Inc. raised its holdings in shares of Lennar by 993.0% in the 3rd quarter. Cibc World Market Inc. now owns 129,487 shares of the construction company’s stock valued at $16,321,000 after purchasing an additional 117,640 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Lennar by 5.9% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 466,027 shares of the construction company’s stock valued at $58,738,000 after buying an additional 26,117 shares during the last quarter. Boothbay Fund Management LLC grew its stake in Lennar by 201.1% in the 3rd quarter. Boothbay Fund Management LLC now owns 24,004 shares of the construction company’s stock valued at $3,025,000 after buying an additional 16,031 shares during the last quarter. Tounjian Advisory Partners LLC acquired a new position in Lennar in the 4th quarter valued at about $2,599,000. Finally, Coronation Fund Managers Ltd. acquired a new position in Lennar in the 3rd quarter valued at about $14,160,000. 81.10% of the stock is owned by institutional investors.

Lennar Stock Performance

Shares of NYSE:LEN opened at $89.73 on Friday. The company’s 50 day moving average price is $89.23 and its two-hundred day moving average price is $105.48. Lennar Corporation has a 12-month low of $81.18 and a 12-month high of $144.24. The firm has a market cap of $22.16 billion, a PE ratio of 12.89, a PEG ratio of 2.01 and a beta of 1.41. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the previous year, the company earned $2.14 EPS. The business’s revenue for the quarter was down 13.3% on a year-over-year basis. Equities research analysts predict that Lennar Corporation will post 5.87 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, April 22nd. Lennar’s dividend payout ratio is presently 28.74%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LEN. Truist Financial decreased their price target on shares of Lennar from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Tuesday, March 31st. Citigroup decreased their price target on shares of Lennar from $113.00 to $104.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 17th. Evercore decreased their price target on shares of Lennar from $89.00 to $82.00 and set an “underperform” rating on the stock in a research note on Monday, April 13th. Zacks Research upgraded shares of Lennar from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Finally, Wells Fargo & Company decreased their price target on shares of Lennar from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $99.87.

About Lennar

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.