Oppenheimer Asset Management Inc. Decreases Stake in Lennar Co. (NYSE:LEN)

Oppenheimer Asset Management Inc. lowered its stake in shares of Lennar Co. (NYSE:LEN) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 206,512 shares of the construction company’s stock after selling 2,083 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.08% of Lennar worth $28,162,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Holocene Advisors LP acquired a new position in Lennar during the third quarter worth about $115,229,000. Pacer Advisors Inc. increased its position in Lennar by 22.0% during the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock worth $446,110,000 after purchasing an additional 589,553 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Lennar by 21.4% in the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after buying an additional 397,492 shares during the last quarter. KBC Group NV lifted its stake in shares of Lennar by 258.3% during the 3rd quarter. KBC Group NV now owns 494,848 shares of the construction company’s stock worth $92,774,000 after purchasing an additional 356,731 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its position in Lennar by 2,774.5% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 123,142 shares of the construction company’s stock worth $16,793,000 after buying an additional 118,858 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Lennar from $145.00 to $130.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Wedbush reaffirmed a “neutral” rating and issued a $164.00 price target on shares of Lennar in a report on Thursday, December 19th. Keefe, Bruyette & Woods decreased their target price on Lennar from $170.00 to $152.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. BTIG Research downgraded shares of Lennar from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, Wolfe Research lowered shares of Lennar from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lennar presently has an average rating of “Hold” and a consensus target price of $163.88.

Lennar Stock Down 2.3 %

Shares of NYSE:LEN opened at $121.51 on Thursday. The business’s 50-day moving average is $131.43 and its 200-day moving average is $160.08. The company has a market capitalization of $32.26 billion, a price-to-earnings ratio of 8.47, a P/E/G ratio of 1.24 and a beta of 1.67. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. Lennar Co. has a 1 year low of $117.90 and a 1 year high of $193.80.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). The business had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $10.06 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter last year, the company earned $4.82 EPS. Equities research analysts predict that Lennar Co. will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) is currently 13.95%.

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.