Allianz Asset Management GmbH Increases Holdings in Lennar Corporation $LEN

Allianz Asset Management GmbH grew its stake in shares of Lennar Corporation (NYSE:LEN) by 7.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,811 shares of the construction company’s stock after purchasing an additional 6,391 shares during the quarter. Allianz Asset Management GmbH’s holdings in Lennar were worth $12,076,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Guerra Advisors Inc acquired a new stake in Lennar in the third quarter valued at approximately $25,000. FNY Investment Advisers LLC purchased a new stake in Lennar during the 2nd quarter worth $33,000. Rexford Capital Inc. acquired a new position in Lennar in the 2nd quarter worth $36,000. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Lennar during the second quarter valued at about $43,000. Finally, Cary Street Partners Financial LLC purchased a new stake in shares of Lennar during the second quarter worth about $47,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LEN has been the topic of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Lennar in a report on Thursday, January 22nd. Citizens Jmp restated a “market perform” rating on shares of Lennar in a research note on Wednesday, January 7th. The Goldman Sachs Group reiterated a “neutral” rating and set a $125.00 price objective on shares of Lennar in a research note on Tuesday, January 13th. Wall Street Zen downgraded shares of Lennar from a “hold” rating to a “sell” rating in a research report on Monday, December 8th. Finally, Evercore cut shares of Lennar from an “in-line” rating to an “underperform” rating and reduced their price target for the stock from $114.00 to $92.00 in a research report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have issued a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $106.38.

Lennar Stock Performance

Shares of NYSE LEN opened at $114.15 on Monday. The stock has a market capitalization of $29.11 billion, a P/E ratio of 14.29, a P/E/G ratio of 1.66 and a beta of 1.44. The firm’s 50-day moving average price is $113.95 and its two-hundred day moving average price is $121.81. Lennar Corporation has a 52-week low of $98.42 and a 52-week high of $144.24. The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Tuesday, December 16th. The construction company reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.27). The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.17 billion. Lennar had a return on equity of 9.27% and a net margin of 6.08%.The company’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period last year, the business posted $4.03 EPS. As a group, sell-side analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Wednesday, February 4th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, February 4th. Lennar’s dividend payout ratio (DPR) is 25.03%.

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.