AIA Group Ltd Has $2.92 Million Stake in Lennar Corporation $LEN

AIA Group Ltd boosted its position in Lennar Corporation (NYSE:LEN) by 134.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,124 shares of the construction company’s stock after purchasing an additional 13,264 shares during the period. AIA Group Ltd’s holdings in Lennar were worth $2,915,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LEN. Guerra Advisors Inc acquired a new position in Lennar in the 3rd quarter valued at approximately $25,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Lennar in the third quarter worth $25,000. Redmont Wealth Advisors LLC acquired a new stake in Lennar in the third quarter valued at $26,000. Rexford Capital Inc. bought a new position in Lennar during the 2nd quarter worth $36,000. Finally, Washington Trust Advisors Inc. raised its position in Lennar by 102.7% during the 3rd quarter. Washington Trust Advisors Inc. now owns 371 shares of the construction company’s stock worth $47,000 after purchasing an additional 188 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Price Performance

Lennar stock opened at $93.62 on Friday. The stock has a market capitalization of $23.12 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.99 and a beta of 1.43. Lennar Corporation has a 52-week low of $92.17 and a 52-week high of $144.24. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 4.77. The stock’s 50 day moving average price is $111.64 and its two-hundred day moving average price is $118.67.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.07). The company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.90 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. The business’s revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.14 EPS. On average, equities analysts predict that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Wednesday, February 4th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, February 4th. Lennar’s dividend payout ratio (DPR) is 28.74%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citizens Jmp reiterated a “market perform” rating on shares of Lennar in a research report on Wednesday, January 7th. Argus raised Lennar to a “strong-buy” rating in a research note on Friday, January 16th. Barclays reduced their target price on Lennar from $88.00 to $85.00 and set an “underweight” rating on the stock in a report on Monday. BTIG Research set a $90.00 target price on shares of Lennar in a research report on Thursday, December 18th. Finally, Truist Financial dropped their price target on shares of Lennar from $110.00 to $95.00 and set a “hold” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $102.07.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.