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

Fisher Asset Management LLC lowered its position in shares of Lennar Co. (NYSE:LEN) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,015 shares of the construction company’s stock after selling 1,105 shares during the quarter. Fisher Asset Management LLC’s holdings in Lennar were worth $13,503,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Crews Bank & Trust purchased a new position in Lennar during the 4th quarter worth $25,000. Armstrong Advisory Group Inc. grew its stake in shares of Lennar by 69.4% during the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after purchasing an additional 75 shares during the period. Legacy Investment Solutions LLC acquired a new position in shares of Lennar during the 3rd quarter worth $39,000. Quarry LP grew its stake in shares of Lennar by 136.7% during the 3rd quarter. Quarry LP now owns 232 shares of the construction company’s stock worth $43,000 after purchasing an additional 134 shares during the period. Finally, ORG Wealth Partners LLC acquired a new position in shares of Lennar during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

LEN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. UBS Group lowered their price target on shares of Lennar from $205.00 to $192.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group lowered their price target 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. Royal Bank of Canada lowered their price objective on shares of Lennar from $130.00 to $125.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. Finally, Wells Fargo & Company lowered 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 equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Lennar presently has a consensus rating of “Hold” and a consensus price target of $163.88.

Lennar Price Performance

Lennar stock opened at $117.84 on Tuesday. Lennar Co. has a 12-month low of $117.50 and a 12-month high of $187.61. The stock has a market capitalization of $31.29 billion, a P/E ratio of 8.22, a P/E/G ratio of 1.24 and a beta of 1.67. The firm’s 50-day moving average is $130.30 and its two-hundred day moving average is $158.96. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06.

Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($0.12). The firm had revenue of $9.95 billion for 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%. Lennar’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $4.82 earnings per share. Equities analysts predict that Lennar Co. will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.70%. Lennar’s payout ratio is currently 13.95%.

Lennar 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.