Oppenheimer Asset Management Inc. Acquires 88,707 Shares of Lennar Corporation $LEN

Oppenheimer Asset Management Inc. lifted its stake in Lennar Corporation (NYSE:LEN) by 19.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 542,190 shares of the construction company’s stock after buying an additional 88,707 shares during the quarter. Lennar comprises 0.7% of Oppenheimer Asset Management Inc.’s portfolio, making the stock its 25th biggest holding. Oppenheimer Asset Management Inc.’s holdings in Lennar were worth $55,737,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Lazard Asset Management LLC raised its stake in shares of Lennar by 7.1% in the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock worth $141,000 after buying an additional 85 shares during the period. Zions Bancorporation National Association UT raised its position in shares of Lennar by 8.3% during the 3rd quarter. Zions Bancorporation National Association UT now owns 1,127 shares of the construction company’s stock valued at $142,000 after purchasing an additional 86 shares during the period. RFG Advisory LLC raised its position in shares of Lennar by 2.1% during the 3rd quarter. RFG Advisory LLC now owns 4,255 shares of the construction company’s stock valued at $536,000 after purchasing an additional 87 shares during the period. UMB Bank n.a. raised its position in shares of Lennar by 6.2% during the 3rd quarter. UMB Bank n.a. now owns 1,595 shares of the construction company’s stock valued at $201,000 after purchasing an additional 93 shares during the period. Finally, ORG Wealth Partners LLC raised its position in shares of Lennar by 5.2% during the 3rd quarter. ORG Wealth Partners LLC now owns 2,072 shares of the construction company’s stock valued at $261,000 after purchasing an additional 102 shares during the period. Institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LEN. Evercore decreased their price objective on shares of Lennar from $89.00 to $82.00 and set an “underperform” rating on the stock in a research report on Monday, April 13th. Barclays decreased their price objective on shares of Lennar from $85.00 to $80.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 8th. Keefe, Bruyette & Woods decreased their target price on Lennar from $105.00 to $97.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 1st. The Goldman Sachs Group decreased their target price on Lennar from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. Finally, Argus reduced their price target on shares of Lennar from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and eight have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $99.87.

Lennar Stock Performance

NYSE:LEN opened at $90.38 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97. Lennar Corporation has a 1 year low of $83.03 and a 1 year high of $144.24. The stock’s 50 day simple moving average is $95.71 and its two-hundred day simple moving average is $110.36. The company has a market cap of $22.32 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 1.95 and a beta of 1.47.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). Lennar had a return on equity of 7.80% and a net margin of 5.39%.The business had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter last year, the firm earned $2.14 earnings per share. The business’s quarterly revenue was down 13.3% on a year-over-year basis. As a group, equities analysts anticipate that Lennar Corporation will post 5.91 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. Lennar’s payout ratio is currently 28.74%.

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.