Fox Run Management L.L.C. Takes Position in Lennar Co. (NYSE:LEN)

Fox Run Management L.L.C. bought a new stake in Lennar Co. (NYSE:LEN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,135 shares of the construction company’s stock, valued at approximately $973,000.

Several other hedge funds also recently modified their holdings of the business. Moors & Cabot Inc. boosted its stake in Lennar by 2.2% during the 3rd 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 last quarter. Centaurus Financial Inc. boosted its stake in Lennar by 2.5% during the 3rd 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 last quarter. Commerce Bank boosted its stake in Lennar by 0.5% during the 3rd 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 last quarter. Armstrong Advisory Group Inc. boosted its stake in Lennar by 69.4% during the 4th 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 last quarter. Finally, Wolff Wiese Magana LLC boosted its stake in Lennar by 51.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company’s stock worth $32,000 after acquiring an additional 79 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Bank of America reduced their price objective on shares of Lennar from $140.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. Wedbush reissued a “neutral” rating and set a $158.00 price objective on shares of Lennar in a research note on Monday, March 17th. Wells Fargo & Company reduced their price objective on shares of Lennar from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 18th. Royal Bank of Canada dropped their target price on shares of Lennar from $130.00 to $125.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Finally, Citigroup dropped their target price on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Fourteen investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $164.53.

Lennar Price Performance

NYSE LEN opened at $115.09 on Friday. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. Lennar Co. has a 12-month low of $111.26 and a 12-month high of $187.61. The company has a market capitalization of $30.56 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. The firm’s 50 day moving average is $126.09 and its 200-day moving average is $153.31.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.44. The company had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $2.57 earnings per share. Equities research analysts anticipate that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were issued 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 1.74%. Lennar’s payout ratio is 13.95%.

About Lennar

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.