Glassy Mountain Advisors Inc. Makes New Investment in Lennar Co. (NYSE:LEN)

Glassy Mountain Advisors Inc. purchased a new position in Lennar Co. (NYSE:LEN – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 68,083 shares of the construction company’s stock, valued at approximately $6,161,000. Lennar makes up about 3.4% of Glassy Mountain Advisors Inc.’s portfolio, making the stock its 7th largest holding.

Other institutional investors have also modified their holdings of the company. Mutual of America Capital Management LLC grew its stake in shares of Lennar by 1.1% in the second quarter. Mutual of America Capital Management LLC now owns 35,285 shares of the construction company’s stock worth $2,490,000 after acquiring an additional 384 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Lennar during the 3rd quarter worth $45,000. Valeo Financial Advisors LLC lifted its position in shares of Lennar by 11.0% during the 3rd quarter. Valeo Financial Advisors LLC now owns 7,576 shares of the construction company’s stock worth $565,000 after purchasing an additional 750 shares during the last quarter. Capital Growth Management LP lifted its position in shares of Lennar by 83.3% during the 3rd quarter. Capital Growth Management LP now owns 220,000 shares of the construction company’s stock worth $16,401,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Lennar by 16.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,209 shares of the construction company’s stock worth $1,507,000 after purchasing an additional 2,901 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Lennar Stock Performance

Shares of NYSE:LEN traded down $0.70 on Friday, reaching $103.50. The company’s stock had a trading volume of 6,247,717 shares, compared to its average volume of 2,344,533. The stock’s 50-day moving average is $99.53 and its two-hundred day moving average is $88.40. Lennar Co. has a 52-week low of $62.54 and a 52-week high of $109.28. The company has a debt-to-equity ratio of 0.17, a current ratio of 7.46 and a quick ratio of 1.48. The stock has a market capitalization of $29.98 billion, a P/E ratio of 6.42, a PEG ratio of 1.85 and a beta of 1.42.

Lennar (NYSE:LEN – Get Rating) last announced its earnings results on Wednesday, March 15th. The construction company reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.56. Lennar had a net margin of 13.86% and a return on equity of 21.52%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $5.99 billion. During the same period in the prior year, the company earned $2.70 earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Lennar Co. will post 9.09 EPS for the current year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 10th. Stockholders of record on Friday, January 27th were issued a $0.375 dividend. The ex-dividend date of this dividend was Thursday, January 26th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.45%. Lennar’s payout ratio is 9.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on LEN shares. StockNews.com started coverage on shares of Lennar in a research report on Thursday. They set a “buy” rating for the company. Royal Bank of Canada lifted their price objective on shares of Lennar from $76.00 to $85.00 and gave the stock an “underperform” rating in a research report on Friday. Citigroup lifted their price objective on shares of Lennar from $103.00 to $113.00 and gave the stock a “buy” rating in a research report on Monday, December 19th. Bank of America raised shares of Lennar from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $92.00 to $102.00 in a research report on Wednesday, January 11th. Finally, Credit Suisse Group lifted their price objective on shares of Lennar from $88.00 to $96.00 and gave the stock a “neutral” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Lennar currently has a consensus rating of “Hold” and a consensus target price of $105.33.

Lennar Profile

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Lennar Corp. engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Central, Texas, and West, Financial Services, Multifamily, and Lennar Other. The Homebuilding East, Central, Texas, and West segment constructs and sells homes primarily for first-time, move-up, and active adult homebuyers primarily under the Lennar brand name.