OLD National Bancorp IN Acquires New Stake in Lennar Co. (NYSE:LEN)

OLD National Bancorp IN bought a new position in Lennar Co. (NYSE:LEN) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,659 shares of the construction company’s stock, valued at approximately $247,000.

Several other hedge funds have also made changes to their positions in the company. Criterion Capital Advisors LLC purchased a new stake in shares of Lennar in the 4th quarter worth $36,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Lennar by 1.4% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,728 shares of the construction company’s stock worth $3,536,000 after buying an additional 329 shares during the period. Greenleaf Trust lifted its holdings in shares of Lennar by 2.7% in the 4th quarter. Greenleaf Trust now owns 5,048 shares of the construction company’s stock worth $752,000 after buying an additional 131 shares during the period. Beaumont Financial Advisors LLC lifted its holdings in shares of Lennar by 18.0% in the 4th quarter. Beaumont Financial Advisors LLC now owns 2,204 shares of the construction company’s stock worth $328,000 after buying an additional 336 shares during the period. Finally, Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Lennar by 1.3% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 56,033 shares of the construction company’s stock worth $8,351,000 after buying an additional 718 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lennar

In related news, Director Amy Banse purchased 1,575 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was bought at an average cost of $157.00 per share, with a total value of $247,275.00. Following the completion of the acquisition, the director now owns 11,859 shares of the company’s stock, valued at approximately $1,861,863. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.36% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on LEN shares. Evercore ISI boosted their price target on Lennar from $224.00 to $238.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. Oppenheimer reissued a “market perform” rating on shares of Lennar in a research report on Friday, March 15th. Wedbush reissued an “underperform” rating and issued a $144.00 price target on shares of Lennar in a research report on Tuesday, April 2nd. Royal Bank of Canada reduced their price target on Lennar from $137.00 to $136.00 and set an “underweight” rating for the company in a research report on Thursday, March 14th. Finally, JMP Securities reissued a “market outperform” rating and issued a $170.00 price target on shares of Lennar in a research report on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $163.88.

Lennar Stock Down 0.9 %

Shares of LEN stock opened at $152.79 on Friday. The stock’s 50-day simple moving average is $159.50 and its 200-day simple moving average is $143.55. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.27 and a current ratio of 5.47. The firm has a market capitalization of $42.53 billion, a PE ratio of 10.71, a P/E/G ratio of 1.44 and a beta of 1.53. Lennar Co. has a fifty-two week low of $102.90 and a fifty-two week high of $172.59.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, March 14th. The construction company reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.39 billion. Lennar had a return on equity of 15.90% and a net margin of 11.59%. The company’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.12 earnings per share. Equities analysts expect that Lennar Co. will post 14.46 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Tuesday, April 23rd. Lennar’s payout ratio is presently 14.02%.

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.