Allstate Corp Buys Shares of 7,211 Lennar Co. (NYSE:LEN)

Allstate Corp purchased a new position in shares of Lennar Co. (NYSE:LEN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,211 shares of the construction company’s stock, valued at approximately $983,000.

A number of other hedge funds have also recently modified their holdings of the company. Armstrong Advisory Group Inc. increased its holdings in shares of Lennar by 69.4% during the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after buying an additional 75 shares during the last quarter. Wolff Wiese Magana LLC raised its position in Lennar by 51.0% in the fourth quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company’s stock valued at $32,000 after purchasing an additional 79 shares during the period. Howard Capital Management Inc. lifted its stake in shares of Lennar by 0.3% in the 4th quarter. Howard Capital Management Inc. now owns 28,836 shares of the construction company’s stock valued at $3,932,000 after purchasing an additional 81 shares during the last quarter. Premier Path Wealth Partners LLC grew its holdings in shares of Lennar by 2.1% during the 4th quarter. Premier Path Wealth Partners LLC now owns 4,284 shares of the construction company’s stock worth $584,000 after purchasing an additional 87 shares during the period. Finally, Coldstream Capital Management Inc. raised its holdings in Lennar by 1.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,546 shares of the construction company’s stock valued at $1,036,000 after buying an additional 92 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Barclays lowered their target price on shares of Lennar from $121.00 to $110.00 and set an “equal weight” rating for the company in a research note on Monday, March 24th. Wolfe Research lowered Lennar from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Wells Fargo & Company cut their price objective on Lennar from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 18th. Seaport Res Ptn upgraded Lennar from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Finally, StockNews.com cut shares of Lennar from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Lennar has an average rating of “Hold” and a consensus target price of $151.07.

Lennar Stock Up 0.8 %

Lennar stock opened at $114.79 on Tuesday. The stock has a market cap of $30.48 billion, a PE ratio of 8.00, a P/E/G ratio of 1.24 and a beta of 1.69. 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 stock’s fifty day moving average is $123.51 and its two-hundred day moving average is $150.47. Lennar Co. has a 1-year low of $111.26 and a 1-year high of $187.61.

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 the consensus estimate of $1.70 by $0.44. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $2.57 EPS. On average, sell-side analysts expect that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) 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.