Fisher Asset Management LLC Trims Stock Position in Lennar Corporation $LEN

Fisher Asset Management LLC trimmed its stake in Lennar Corporation (NYSE:LEN) by 27.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,139 shares of the construction company’s stock after selling 9,275 shares during the period. Fisher Asset Management LLC’s holdings in Lennar were worth $3,043,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LEN. Concurrent Investment Advisors LLC increased its position in Lennar by 73.9% during the third quarter. Concurrent Investment Advisors LLC now owns 10,702 shares of the construction company’s stock worth $1,349,000 after buying an additional 4,548 shares during the period. denkapparat Operations GmbH purchased a new position in shares of Lennar during the second quarter worth approximately $408,000. Longfellow Investment Management Co. LLC acquired a new position in shares of Lennar in the 2nd quarter valued at $441,000. Swiss National Bank raised its position in Lennar by 4.3% in the 2nd quarter. Swiss National Bank now owns 702,872 shares of the construction company’s stock valued at $77,745,000 after purchasing an additional 29,300 shares during the last quarter. Finally, Cibc World Market Inc. boosted its stake in Lennar by 993.0% during the 3rd quarter. Cibc World Market Inc. now owns 129,487 shares of the construction company’s stock worth $16,321,000 after purchasing an additional 117,640 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Stock Performance

Shares of LEN stock opened at $104.20 on Friday. The company has a current ratio of 4.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18. The stock has a 50 day simple moving average of $113.28 and a 200-day simple moving average of $121.19. The company has a market cap of $25.74 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 1.55 and a beta of 1.43. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $144.24.

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

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Wednesday, February 4th were paid a $0.50 dividend. The ex-dividend date was Wednesday, February 4th. This represents a $2.00 annualized dividend and a dividend yield of 1.9%. Lennar’s dividend payout ratio (DPR) is 25.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Lennar from $115.00 to $80.00 and set an “underweight” rating for the company in a report on Thursday, December 18th. Truist Financial began coverage on Lennar in a research note on Wednesday. They set a “hold” rating and a $110.00 price objective for the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $125.00 target price on shares of Lennar in a research note on Tuesday, January 13th. Keefe, Bruyette & Woods dropped their target price on Lennar from $125.00 to $115.00 and set a “market perform” rating on the stock in a report on Thursday, December 18th. Finally, Argus raised Lennar to a “strong-buy” rating in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $106.64.

Lennar Profile

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.