Fisher Asset Management LLC Cuts Stake in Lennar Co. (NYSE:LEN)

Fisher Asset Management LLC reduced its stake in shares of Lennar Co. (NYSE:LEN) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,015 shares of the construction company’s stock after selling 1,105 shares during the period. Fisher Asset Management LLC’s holdings in Lennar were worth $13,503,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Smead Capital Management Inc. raised its holdings in Lennar by 3.5% in the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after buying an additional 89,896 shares during the period. Verition Fund Management LLC raised its holdings in Lennar by 147.6% in the third quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock valued at $12,978,000 after buying an additional 41,264 shares during the period. Polianta Ltd purchased a new position in Lennar in the fourth quarter valued at approximately $900,000. OneDigital Investment Advisors LLC raised its holdings in Lennar by 101.2% in the third quarter. OneDigital Investment Advisors LLC now owns 8,673 shares of the construction company’s stock valued at $1,626,000 after buying an additional 4,363 shares during the period. Finally, Nordea Investment Management AB raised its holdings in 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 period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

LEN has been the topic of several research reports. JPMorgan Chase & Co. cut their price target on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. The Goldman Sachs Group dropped their price objective on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, December 23rd. Citigroup dropped their price objective on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Barclays dropped their price objective on shares of Lennar from $135.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Finally, Wells Fargo & Company dropped their price objective on shares of Lennar from $145.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $163.88.

Lennar Stock Down 1.5 %

LEN stock opened at $117.84 on Tuesday. Lennar Co. has a twelve month low of $117.50 and a twelve month high of $187.61. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $31.29 billion, a P/E ratio of 8.22, a PEG ratio of 1.24 and a beta of 1.67. The firm has a 50 day simple moving average of $130.30 and a 200-day simple moving average of $158.96.

Lennar (NYSE:LEN) last released its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 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 analyst estimates of $10.06 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.82 EPS. On average, equities research analysts predict that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Wednesday, January 29th. Lennar’s dividend payout ratio is presently 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.