Pictet Asset Management Holding SA trimmed its position in shares of Lennar Corporation (NYSE:LEN – Free Report) by 52.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,017 shares of the construction company’s stock after selling 142,781 shares during the quarter. Pictet Asset Management Holding SA owned 0.05% of Lennar worth $11,373,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Lennar in the 3rd quarter worth about $25,000. High Point Wealth Management LLC purchased a new stake in Lennar in the 4th quarter worth about $31,000. DV Equities LLC bought a new stake in Lennar in the fourth quarter worth about $31,000. Quarry LP purchased a new position in shares of Lennar during the fourth quarter valued at approximately $41,000. Finally, IFC & Insurance Marketing Inc. bought a new position in shares of Lennar during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.
Lennar Trading Up 1.3%
LEN opened at $88.15 on Friday. The company has a quick ratio of 0.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average is $89.50 and its two-hundred day moving average is $99.64. The company has a market capitalization of $21.77 billion, a P/E ratio of 13.80, a PEG ratio of 2.86 and a beta of 1.38. Lennar Corporation has a 52 week low of $81.18 and a 52 week high of $144.24.
Lennar Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Friday, July 10th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. Lennar’s dividend payout ratio is 31.30%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the company. Wells Fargo & Company decreased their price target on Lennar from $90.00 to $85.00 and set an “equal weight” rating for the company in a research note on Monday, June 15th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Lennar in a research report on Friday, June 5th. Bank of America decreased their target price on Lennar from $84.00 to $77.00 and set an “underperform” rating for the company in a research report on Friday, June 12th. Seaport Research Partners reissued a “sell” rating and set a $74.00 target price (down from $140.00) on shares of Lennar in a research note on Tuesday, April 7th. Finally, UBS Group cut their price target on shares of Lennar from $107.00 to $94.00 and set a “neutral” rating on the stock in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have assigned a Sell rating to the company. Based on data from MarketBeat.com, Lennar has an average rating of “Reduce” and a consensus price target of $95.00.
Get Our Latest Stock Report on Lennar
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.
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