Brookstone Capital Management Takes $324,000 Position in Lennar Co. (NYSE:LEN)

Brookstone Capital Management acquired a new stake in shares of Lennar Co. (NYSE:LENFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,176 shares of the construction company’s stock, valued at approximately $324,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in LEN. First Trust Advisors LP increased its position in shares of Lennar by 551.1% during the first quarter. First Trust Advisors LP now owns 1,824,684 shares of the construction company’s stock worth $191,793,000 after acquiring an additional 1,544,432 shares in the last quarter. AQR Capital Management LLC grew its position in Lennar by 47.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,501,257 shares of the construction company’s stock worth $168,486,000 after purchasing an additional 484,056 shares in the last quarter. Duquesne Family Office LLC bought a new stake in Lennar in the 4th quarter worth about $39,991,000. Nomura Holdings Inc. grew its position in Lennar by 236.0% in the 1st quarter. Nomura Holdings Inc. now owns 229,341 shares of the construction company’s stock worth $24,106,000 after purchasing an additional 397,951 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Lennar by 5.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,544,345 shares of the construction company’s stock worth $734,477,000 after purchasing an additional 366,983 shares in the last quarter. 79.87% of the stock is owned by institutional investors.

Lennar Stock Performance

NYSE LEN opened at $165.56 on Wednesday. Lennar Co. has a 1 year low of $100.95 and a 1 year high of $168.05. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.47 and a quick ratio of 1.27. The stock has a market capitalization of $46.49 billion, a PE ratio of 11.60, a P/E/G ratio of 2.22 and a beta of 1.52. The company’s 50 day simple moving average is $155.45 and its two-hundred day simple moving average is $136.43.

Lennar (NYSE:LENGet Free Report) last posted its earnings results on Thursday, March 14th. The construction company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.36. Lennar had a net margin of 11.59% and a return on equity of 15.90%. The business had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.39 billion. During the same period in the prior year, the company posted $2.12 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. Analysts predict that Lennar Co. will post 14.24 earnings per share for the current fiscal year.

Lennar Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th were paid a $0.50 dividend. The ex-dividend date was Tuesday, January 23rd. This is a boost from Lennar’s previous quarterly dividend of $0.38. This represents a $2.00 annualized dividend and a yield of 1.21%. Lennar’s dividend payout ratio is currently 14.02%.

Wall Street Analyst Weigh In

LEN has been the subject of a number of recent analyst reports. Oppenheimer reaffirmed a “market perform” rating on shares of Lennar in a research report on Friday, March 15th. Wedbush reiterated a “neutral” rating and issued a $144.00 target price (up from $130.00) on shares of Lennar in a research note on Monday, March 18th. Evercore ISI boosted their target price on shares of Lennar from $224.00 to $238.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Raymond James boosted their target price on shares of Lennar from $150.00 to $165.00 and gave the company an “outperform” rating in a research note on Tuesday, December 19th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Lennar from $175.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lennar currently has a consensus rating of “Moderate Buy” and an average target price of $162.69.

Read Our Latest Report on Lennar

Lennar Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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