Stelliam Investment Management LP Increases Stake in Lennar Corporation (LEN)

Stelliam Investment Management LP boosted its position in Lennar Corporation (NYSE:LEN) by 10.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,005,000 shares of the company’s stock after buying an additional 187,500 shares during the period. Lennar Corporation accounts for 2.9% of Stelliam Investment Management LP’s portfolio, making the stock its 14th largest position. Stelliam Investment Management LP owned approximately 0.86% of Lennar Corporation worth $86,075,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Lennar Corporation by 2.6% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 14,207 shares of the company’s stock valued at $654,000 after buying an additional 356 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Lennar Corporation by 0.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 583,705 shares of the company’s stock valued at $26,909,000 after buying an additional 3,253 shares during the period. Concert Wealth Management Inc. increased its position in shares of Lennar Corporation by 4.1% in the second quarter. Concert Wealth Management Inc. now owns 7,946 shares of the company’s stock valued at $366,000 after buying an additional 315 shares during the period. BB&T Corp increased its position in shares of Lennar Corporation by 7.5% in the second quarter. BB&T Corp now owns 77,670 shares of the company’s stock valued at $3,581,000 after buying an additional 5,400 shares during the period. Finally, Bourgeon Capital Management LLC increased its position in shares of Lennar Corporation by 8.6% in the second quarter. Bourgeon Capital Management LLC now owns 45,004 shares of the company’s stock valued at $2,075,000 after buying an additional 3,550 shares during the period. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Institutional Ownership by Quarter for Lennar Corporation (NYSE:LEN)

Shares of Lennar Corporation (NYSE:LEN) traded down 1.05% during trading on Tuesday, reaching $46.21. The company’s stock had a trading volume of 2,082,889 shares. The company has a market capitalization of $10.84 billion, a P/E ratio of 11.75 and a beta of 1.27. The company’s 50-day moving average is $44.64 and its 200-day moving average is $44.05. Lennar Corporation has a 12 month low of $39.67 and a 12 month high of $49.60.

Lennar Corporation (NYSE:LEN) last released its earnings results on Monday, December 19th. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.06. Lennar Corporation had a net margin of 8.33% and a return on equity of 13.80%. The firm earned $3.38 million during the quarter. During the same period in the prior year, the firm posted $1.21 EPS. Lennar Corporation’s revenue was up 14.6% on a year-over-year basis. On average, analysts forecast that Lennar Corporation will post $3.82 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 10th. Stockholders of record on Friday, January 27th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Wednesday, January 25th. Lennar Corporation’s dividend payout ratio (DPR) is 4.07%.

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LEN has been the topic of several analyst reports. Argus reiterated a “buy” rating and issued a $55.00 target price on shares of Lennar Corporation in a research note on Friday, October 21st. Buckingham Research upgraded Lennar Corporation from a “neutral” rating to a “buy” rating and set a $53.00 target price on the stock in a research note on Monday, October 17th. Evercore ISI reiterated a “buy” rating and issued a $55.00 target price on shares of Lennar Corporation in a research note on Tuesday, December 13th. Zacks Investment Research upgraded Lennar Corporation from a “sell” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Wednesday, December 21st. Finally, BTIG Research initiated coverage on Lennar Corporation in a research note on Tuesday, February 7th. They issued a “buy” rating and a $56.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $53.28.

Lennar Corporation Company Profile

Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily.

5 Day Chart for NYSE:LEN

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