Montag A & Associates Inc. Purchases 9,630 Shares of Lennar Corporation $LEN

Montag A & Associates Inc. boosted its position in shares of Lennar Corporation (NYSE:LEN) by 1,914.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,133 shares of the construction company’s stock after acquiring an additional 9,630 shares during the quarter. Montag A & Associates Inc.’s holdings in Lennar were worth $1,277,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Viking Global Investors LP raised its holdings in shares of Lennar by 86.7% in the 2nd quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after purchasing an additional 1,172,068 shares during the period. Todd Asset Management LLC bought a new stake in Lennar in the third quarter valued at approximately $26,371,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of Lennar by 319.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 274,173 shares of the construction company’s stock valued at $34,557,000 after buying an additional 208,800 shares during the last quarter. River Road Asset Management LLC boosted its stake in shares of Lennar by 86.1% during the 2nd quarter. River Road Asset Management LLC now owns 443,477 shares of the construction company’s stock worth $49,749,000 after acquiring an additional 205,234 shares during the period. Finally, Aviva PLC increased its holdings in shares of Lennar by 1,656.1% during the 2nd quarter. Aviva PLC now owns 155,626 shares of the construction company’s stock worth $17,214,000 after acquiring an additional 146,764 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

NYSE LEN opened at $106.54 on Thursday. The firm has a 50-day moving average price of $113.30 and a two-hundred day moving average price of $121.31. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $144.24. The company has a market capitalization of $26.31 billion, a P/E ratio of 13.33, a P/E/G ratio of 1.58 and a beta of 1.43. The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18.

Lennar (NYSE:LEN) last released its quarterly earnings results on Tuesday, December 16th. The construction company reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.27). The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.17 billion. Lennar had a net margin of 6.08% and a return on equity of 9.27%. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.03 earnings per share. Analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Wednesday, February 4th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, February 4th. Lennar’s dividend payout ratio is 25.03%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Lennar from $115.00 to $80.00 and set an “underweight” rating for the company in a report on Thursday, December 18th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $125.00 target price on shares of Lennar in a report on Tuesday, January 13th. Evercore lowered shares of Lennar from an “in-line” rating to an “underperform” rating and decreased their price target for the company from $114.00 to $92.00 in a research note on Thursday, December 18th. Weiss Ratings restated a “hold (c)” rating on shares of Lennar in a research report on Thursday, January 22nd. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of Lennar in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Hold rating and eight have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $106.64.

Lennar Company Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.