Apollon Wealth Management LLC Has $1.46 Million Stock Position in Lennar Co. (NYSE:LEN)

Apollon Wealth Management LLC trimmed its position in shares of Lennar Co. (NYSE:LEN) by 17.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,766 shares of the construction company’s stock after selling 2,073 shares during the quarter. Apollon Wealth Management LLC’s holdings in Lennar were worth $1,456,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its position in Lennar by 6,297.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 662,277 shares of the construction company’s stock worth $98,706,000 after acquiring an additional 651,924 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Lennar by 47.6% during the third 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 during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Lennar by 5.9% in the third quarter. The Manufacturers Life Insurance Company now owns 6,544,345 shares of the construction company’s stock valued at $734,477,000 after buying an additional 366,983 shares during the last quarter. Assetmark Inc. lifted its position in Lennar by 828.9% during the 3rd quarter. Assetmark Inc. now owns 308,733 shares of the construction company’s stock worth $34,649,000 after buying an additional 275,497 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in Lennar by 97.4% during the 4th quarter. Jennison Associates LLC now owns 354,711 shares of the construction company’s stock worth $52,866,000 after acquiring an additional 174,981 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

LEN has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of Lennar from $161.00 to $157.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. JMP Securities reissued a “market outperform” rating and issued a $170.00 target price on shares of Lennar in a research note on Friday, March 15th. Keefe, Bruyette & Woods upped their price target on Lennar from $175.00 to $183.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Evercore ISI lifted their price objective on Lennar from $224.00 to $238.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Lennar in a research note on Friday, March 15th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $163.88.

Insider Activity at Lennar

In other news, Director Amy Banse bought 1,575 shares of the stock in a transaction on Wednesday, April 10th. The stock was purchased at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the acquisition, the director now owns 11,859 shares in the company, valued at $1,861,863. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 9.36% of the stock is currently owned by insiders.

Lennar Price Performance

LEN opened at $158.47 on Thursday. The company has a fifty day simple moving average of $160.08 and a 200 day simple moving average of $146.69. The company has a quick ratio of 1.27, a current ratio of 5.47 and a debt-to-equity ratio of 0.11. The stock has a market cap of $44.11 billion, a P/E ratio of 11.11, a P/E/G ratio of 1.48 and a beta of 1.55. Lennar Co. has a 12 month low of $102.90 and a 12 month high of $172.59.

Lennar (NYSE:LEN) last announced its quarterly 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 return on equity of 15.90% and a net margin of 11.59%. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.39 billion. During the same period in the prior year, the company earned $2.12 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, research analysts expect that Lennar Co. will post 14.46 EPS for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.26%. Lennar’s payout ratio is 14.02%.

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.