Hartford Investment Management Co. Has $2 Million Stock Holdings in Lennar Co. (NYSE:LEN)

Hartford Investment Management Co. lowered its stake in Lennar Co. (NYSE:LEN) by 3.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,698 shares of the construction company’s stock after selling 499 shares during the period. Hartford Investment Management Co.’s holdings in Lennar were worth $2,004,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Oakworth Capital Inc. bought a new stake in Lennar in the 3rd quarter valued at $27,000. Wolff Wiese Magana LLC boosted its position in shares of Lennar by 933.3% during the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after buying an additional 140 shares during the period. GHP Investment Advisors Inc. bought a new position in shares of Lennar during the third quarter worth about $30,000. Asset Dedication LLC raised its position in Lennar by 4,225.0% in the 3rd 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 last quarter. Finally, Crews Bank & Trust bought a new stake in Lennar in the 4th quarter valued at approximately $25,000. Institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

Shares of LEN opened at $123.80 on Friday. The company’s 50-day moving average is $138.43 and its 200-day moving average is $163.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The firm has a market capitalization of $32.87 billion, a PE ratio of 8.63, a PEG ratio of 1.28 and a beta of 1.67. Lennar Co. has a fifty-two week low of $119.25 and a fifty-two week high of $193.80.

Lennar (NYSE:LEN) last posted its earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). The firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $4.82 EPS. Equities analysts forecast that Lennar Co. will post 12.52 EPS for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) is currently 13.95%.

Wall Street Analysts Forecast Growth

LEN has been the topic of a number of recent research reports. Bank of America lowered their price objective on shares of Lennar from $150.00 to $140.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Wells Fargo & Company cut their price target on shares of Lennar from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Wedbush restated a “neutral” rating and issued a $164.00 price objective on shares of Lennar in a report on Thursday, December 19th. Wolfe Research lowered Lennar from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods decreased their price target on Lennar from $170.00 to $152.00 and set an “outperform” rating for the company in a research note on Tuesday. One 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $166.06.

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.