M&T Bank Corp reduced its stake in Lennar Co. (NYSE:LEN) by 17.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,248 shares of the construction company’s stock after selling 3,492 shares during the quarter. M&T Bank Corp’s holdings in Lennar were worth $1,028,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of LEN. Westwood Management Corp IL purchased a new position in Lennar during the fourth quarter worth about $18,238,000. Capital Growth Management LP lifted its position in Lennar by 28.2% during the third quarter. Capital Growth Management LP now owns 1,090,000 shares of the construction company’s stock worth $57,552,000 after buying an additional 240,000 shares during the period. Assenagon Asset Management S.A. purchased a new position in Lennar during the fourth quarter worth about $13,456,000. PGGM Investments lifted its position in Lennar by 139.8% during the fourth quarter. PGGM Investments now owns 309,200 shares of the construction company’s stock worth $19,554,000 after buying an additional 180,275 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Lennar by 268.3% during the third quarter. Janus Henderson Group PLC now owns 162,638 shares of the construction company’s stock worth $8,587,000 after buying an additional 118,482 shares during the period. Institutional investors and hedge funds own 88.27% of the company’s stock.
In other Lennar news, CFO Bruce E. Gross sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $72.00, for a total transaction of $72,000.00. Following the completion of the sale, the chief financial officer now owns 356,043 shares in the company, valued at approximately $25,635,096. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Diane J. Bessette sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $69.50, for a total value of $695,000.00. Following the sale, the vice president now owns 222,396 shares of the company’s stock, valued at approximately $15,456,522. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 175,000 shares of company stock valued at $12,092,050. 8.50% of the stock is owned by insiders.
Shares of Lennar Co. (LEN) opened at $59.17 on Wednesday. The company has a quick ratio of 1.67, a current ratio of 8.42 and a debt-to-equity ratio of 0.80. Lennar Co. has a 12 month low of $49.34 and a 12 month high of $72.17. The stock has a market capitalization of $13,992.01, a PE ratio of 15.15, a PEG ratio of 0.60 and a beta of 1.31.
Lennar (NYSE:LEN) last posted its earnings results on Wednesday, January 10th. The construction company reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.21). Lennar had a net margin of 6.41% and a return on equity of 12.00%. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same quarter last year, the business posted $1.34 EPS. Lennar’s quarterly revenue was up 12.1% compared to the same quarter last year. analysts expect that Lennar Co. will post 5.29 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, January 26th were paid a dividend of $0.04 per share. The ex-dividend date was Thursday, January 25th. This represents a $0.16 dividend on an annualized basis and a yield of 0.27%. Lennar’s dividend payout ratio (DPR) is presently 4.68%.
LEN has been the topic of several recent analyst reports. Wells Fargo & Co upgraded Lennar from a “market perform” rating to an “outperform” rating and set a $74.00 target price on the stock in a research report on Tuesday, January 2nd. Zacks Investment Research downgraded Lennar from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Royal Bank of Canada set a $82.00 price objective on Lennar and gave the stock a “buy” rating in a report on Friday, January 12th. Mizuho upgraded Lennar from a “neutral” rating to a “buy” rating in a report on Thursday, January 18th. Finally, Wedbush raised their price objective on Lennar from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, December 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $68.60.
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.