Assenagon Asset Management S.A. Buys 9,714 Shares of Lennar Co. (NYSE:LEN)

Assenagon Asset Management S.A. boosted its stake in shares of Lennar Co. (NYSE:LEN) by 4.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 226,081 shares of the construction company’s stock after purchasing an additional 9,714 shares during the quarter. Assenagon Asset Management S.A. owned about 0.08% of Lennar worth $30,831,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of LEN. Argent Trust Co lifted its position in Lennar by 2.7% during the 2nd quarter. Argent Trust Co now owns 4,537 shares of the construction company’s stock worth $680,000 after acquiring an additional 120 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Lennar by 5.9% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,763 shares of the construction company’s stock worth $564,000 after purchasing an additional 211 shares during the last quarter. Waterloo Capital L.P. boosted its stake in Lennar by 8.9% during the 2nd quarter. Waterloo Capital L.P. now owns 6,745 shares of the construction company’s stock valued at $1,011,000 after purchasing an additional 550 shares during the period. Elo Mutual Pension Insurance Co increased its position in Lennar by 16.0% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 20,735 shares of the construction company’s stock worth $3,108,000 after buying an additional 2,860 shares during the period. Finally, XTX Topco Ltd lifted its holdings in shares of Lennar by 1,060.0% during the second quarter. XTX Topco Ltd now owns 17,737 shares of the construction company’s stock worth $2,658,000 after buying an additional 16,208 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Lennar from $210.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Bank Of America (Bofa) upped their price objective on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. BTIG Research lowered Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Finally, Bank of America lifted their price objective on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Lennar currently has a consensus rating of “Hold” and an average price target of $171.50.

Insider Buying and Selling

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the transaction, the director now owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.36% of the stock is owned by corporate insiders.

Lennar Price Performance

NYSE:LEN opened at $140.89 on Friday. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The firm has a market cap of $38.21 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 1.21 and a beta of 1.66. Lennar Co. has a 12 month low of $128.41 and a 12 month high of $193.80. The company’s 50-day moving average price is $154.15 and its two-hundred day moving average price is $167.37.

Lennar (NYSE:LEN) last announced its earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing the consensus estimate of $4.15 by ($0.12). Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same period in the previous year, the firm earned $4.82 earnings per share. The firm’s revenue was down 9.3% compared to the same quarter last year. On average, equities analysts anticipate that Lennar Co. will post 13.02 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.42%. Lennar’s dividend payout ratio (DPR) is presently 13.95%.

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.