Magnus Financial Group LLC Grows Position in Lennar Co. (NYSE:LEN)

Magnus Financial Group LLC boosted its stake in shares of Lennar Co. (NYSE:LEN) by 26.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,308 shares of the construction company’s stock after purchasing an additional 481 shares during the period. Magnus Financial Group LLC’s holdings in Lennar were worth $315,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Armstrong Advisory Group Inc. boosted its holdings in Lennar by 69.4% in the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after acquiring an additional 75 shares during the last quarter. Oakworth Capital Inc. purchased a new position in shares of Lennar in the 3rd quarter worth about $27,000. Wolff Wiese Magana LLC lifted its stake in shares of Lennar by 933.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. GHP Investment Advisors Inc. acquired a new stake in Lennar during the 3rd quarter worth approximately $30,000. Finally, Asset Dedication LLC raised its holdings in Lennar by 4,225.0% in the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after buying an additional 169 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. JMP Securities increased their price objective on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th. Wolfe Research lowered Lennar from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their target price on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. UBS Group dropped their target price on Lennar from $205.00 to $192.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group lowered their price objective on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $171.50.

Insider Buying and Selling at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the transaction, the director now owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.36% of the stock is currently owned by insiders.

Lennar Price Performance

Shares of LEN opened at $136.26 on Thursday. Lennar Co. has a 52 week low of $128.41 and a 52 week 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 firm has a market cap of $36.96 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 1.29 and a beta of 1.66. The stock has a 50 day moving average of $151.64 and a 200-day moving average of $167.41.

Lennar (NYSE:LEN) last released its earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing the consensus estimate of $4.15 by ($0.12). Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $10.06 billion. During the same quarter in the previous year, the firm earned $4.82 EPS. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. As a group, analysts forecast that Lennar Co. will post 13.02 EPS for the current year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.47%. Lennar’s dividend payout ratio is currently 13.95%.

Lennar 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.