Allstate Corp Invests $983,000 in Lennar Co. (NYSE:LEN)

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

Several other hedge funds have also modified their holdings of LEN. Crews Bank & Trust bought a new position in shares of Lennar during the 4th quarter worth approximately $25,000. Armstrong Advisory Group Inc. lifted 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 valued at $25,000 after purchasing an additional 75 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Lennar in the 4th quarter worth $28,000. Legacy Investment Solutions LLC purchased a new position in Lennar during the 3rd quarter worth $39,000. Finally, Quarry LP raised its stake in Lennar by 136.7% in the third quarter. Quarry LP now owns 232 shares of the construction company’s stock valued at $43,000 after buying an additional 134 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LEN shares. Wells Fargo & Company cut their price objective on shares of Lennar from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 18th. Wolfe Research cut shares of Lennar from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. The Goldman Sachs Group dropped their price objective on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. BTIG Research lowered Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Finally, Seaport Res Ptn raised Lennar from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $151.07.

Lennar Trading Up 0.8 %

LEN stock opened at $114.79 on Tuesday. Lennar Co. has a 52-week low of $111.26 and a 52-week high of $187.61. 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 $30.48 billion, a P/E ratio of 8.00, a PEG ratio of 1.24 and a beta of 1.69. The company’s 50-day simple moving average is $123.51 and its 200-day simple moving average is $150.47.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, beating the consensus estimate of $1.70 by $0.44. The company 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%. Lennar’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $2.57 earnings per share. As a group, equities analysts forecast that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar’s dividend payout ratio is presently 14.57%.

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.