TrueMark Investments LLC Makes New Investment in Lennar Co. (NYSE:LEN)

TrueMark Investments LLC purchased a new stake in shares of Lennar Co. (NYSE:LEN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 9,757 shares of the construction company’s stock, valued at approximately $1,331,000.

Several other large investors have also made changes to their positions in LEN. Verition Fund Management LLC grew its position in Lennar by 147.6% in the third quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock worth $12,978,000 after acquiring an additional 41,264 shares in the last quarter. Polianta Ltd bought a new stake in Lennar in the fourth quarter worth $900,000. Nordea Investment Management AB increased its position in Lennar by 21.4% during the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock worth $308,696,000 after buying an additional 397,492 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Lennar by 13.8% during the third quarter. Daiwa Securities Group Inc. now owns 30,278 shares of the construction company’s stock valued at $5,677,000 after buying an additional 3,674 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its stake in shares of Lennar by 71.7% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 14,327 shares of the construction company’s stock worth $2,686,000 after acquiring an additional 5,981 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Trading Up 0.2 %

Shares of Lennar stock opened at $117.81 on Wednesday. The company’s fifty day moving average price is $125.47 and its two-hundred day moving average price is $152.27. The firm has a market capitalization of $31.28 billion, a PE ratio of 8.22, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. Lennar Co. has a 52-week low of $111.26 and a 52-week 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.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $7.44 billion. During the same quarter in the prior year, the business posted $2.57 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, analysts expect that Lennar Co. will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 annualized dividend and a yield of 1.70%. Lennar’s dividend payout ratio is currently 14.57%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Citigroup cut their price objective on Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Bank of America reduced their price objective on shares of Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Barclays dropped their target price on shares of Lennar from $121.00 to $110.00 and set an “equal weight” rating on the stock in a report on Monday. Royal Bank of Canada cut their target price 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. Finally, Keefe, Bruyette & Woods dropped their price objective on Lennar from $141.00 to $128.00 and set a “market perform” rating on the stock in a research note on Tuesday. Fifteen equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $151.07.

Lennar Company 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.