New England Research & Management Inc. Has $1.42 Million Stock Holdings in Lennar Co. (NYSE:LEN)

New England Research & Management Inc. decreased its position in shares of Lennar Co. (NYSE:LEN) by 3.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,377 shares of the construction company’s stock after selling 450 shares during the quarter. New England Research & Management Inc.’s holdings in Lennar were worth $1,421,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of LEN. Castlekeep Investment Advisors LLC bought a new position in Lennar during the 4th quarter worth approximately $218,533,000. Wellington Management Group LLP boosted its stake in Lennar by 18.9% during the 4th quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company’s stock worth $441,769,000 after acquiring an additional 515,378 shares during the last quarter. D1 Capital Partners L.P. boosted its stake in Lennar by 67.3% during the 4th quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company’s stock worth $88,116,000 after acquiring an additional 270,433 shares during the last quarter. Man Group plc boosted its stake in Lennar by 112.5% during the 4th quarter. Man Group plc now owns 506,722 shares of the construction company’s stock worth $69,102,000 after acquiring an additional 268,209 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Lennar by 3.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company’s stock worth $834,115,000 after acquiring an additional 213,003 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on LEN. Royal Bank of Canada reduced their price objective on shares of Lennar from $125.00 to $122.00 and set a “sector perform” rating on the stock in a research note on Monday, March 24th. Wedbush reaffirmed a “neutral” rating and issued a $158.00 price target on shares of Lennar in a research note on Monday, March 17th. Wall Street Zen raised shares of Lennar from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. The Goldman Sachs Group cut their price target on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 25th. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $131.00 price target (down previously from $159.00) on shares of Lennar in a research note on Monday, March 24th. Fifteen equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Lennar has a consensus rating of “Hold” and a consensus price target of $150.07.

Lennar Trading Down 3.2%

Shares of Lennar stock opened at $108.52 on Friday. The stock has a market cap of $28.63 billion, a P/E ratio of 7.57, a P/E/G ratio of 1.24 and a beta of 1.33. Lennar Co. has a 12-month low of $98.42 and a 12-month high of $187.61. The business’s 50 day moving average is $107.85 and its 200-day moving average is $123.98. 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 (NYSE:LEN) last issued its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.44. The business 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 for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.57 earnings per share. Equities research analysts predict that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.84%. Lennar’s payout ratio is 14.57%.

Lennar 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.