TCTC Holdings LLC Acquires 367 Shares of Lennar Co. (NYSE:LEN)

TCTC Holdings LLC grew its holdings in Lennar Co. (NYSE:LEN) by 458.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 447 shares of the construction company’s stock after purchasing an additional 367 shares during the period. TCTC Holdings LLC’s holdings in Lennar were worth $61,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LEN. Moors & Cabot Inc. grew its holdings in shares of Lennar by 2.2% in the third quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company’s stock worth $577,000 after acquiring an additional 66 shares during the period. Centaurus Financial Inc. grew its holdings in shares of Lennar by 2.5% in the third quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company’s stock worth $551,000 after acquiring an additional 71 shares during the period. Commerce Bank grew its holdings in shares of Lennar by 0.5% in the third quarter. Commerce Bank now owns 15,074 shares of the construction company’s stock worth $2,826,000 after acquiring an additional 74 shares during the period. Armstrong Advisory Group Inc. grew its holdings in shares of Lennar by 69.4% in the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after acquiring an additional 75 shares during the period. Finally, Wolff Wiese Magana LLC lifted its position in Lennar by 51.0% during the fourth quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company’s stock valued at $32,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

Shares of Lennar stock opened at $119.00 on Tuesday. The stock has a 50 day moving average of $127.21 and a 200 day moving average of $154.87. Lennar Co. has a 12 month low of $115.61 and a 12 month high of $187.61. The firm has a market cap of $31.60 billion, a PE ratio of 8.30, a PEG ratio of 1.24 and a beta of 1.69. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $10.06 billion. During the same quarter last year, the company earned $4.82 earnings per share. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, research analysts expect that Lennar Co. will post 12.48 EPS for the current fiscal 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 given a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.68%. Lennar’s dividend payout ratio (DPR) is presently 13.95%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Seaport Res Ptn raised Lennar from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. The Goldman Sachs Group cut their price target on Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, December 23rd. Wells Fargo & Company cut their price target on Lennar from $145.00 to $130.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Barclays cut their price target on Lennar from $135.00 to $121.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. cut their price target on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Fourteen investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $165.53.

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.