Pictet Asset Management Holding SA Has $28.15 Million Stake in Lennar Corporation $LEN

Pictet Asset Management Holding SA boosted its holdings in Lennar Corporation (NYSE:LEN) by 14.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 273,798 shares of the construction company’s stock after acquiring an additional 34,199 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Lennar were worth $28,151,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Concurrent Investment Advisors LLC raised its position in shares of Lennar by 73.9% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 10,702 shares of the construction company’s stock valued at $1,349,000 after buying an additional 4,548 shares in the last quarter. Cibc World Market Inc. raised its position in Lennar by 993.0% during the third quarter. Cibc World Market Inc. now owns 129,487 shares of the construction company’s stock valued at $16,321,000 after purchasing an additional 117,640 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Lennar by 5.9% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 466,027 shares of the construction company’s stock valued at $58,738,000 after purchasing an additional 26,117 shares in the last quarter. Boothbay Fund Management LLC lifted its position in shares of Lennar by 201.1% during the 3rd quarter. Boothbay Fund Management LLC now owns 24,004 shares of the construction company’s stock worth $3,025,000 after buying an additional 16,031 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new position in Lennar in the third quarter valued at about $1,509,000. 81.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Argus decreased 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. UBS Group dropped their price target on Lennar from $122.00 to $107.00 and set a “neutral” rating for the company in a research note on Monday, March 16th. Royal Bank Of Canada set a $88.00 price objective on Lennar in a research report on Friday, January 9th. Seaport Research Partners reiterated a “sell” rating and issued a $74.00 target price (down from $140.00) on shares of Lennar in a research report on Tuesday, April 7th. Finally, Zacks Research upgraded shares of Lennar from a “strong sell” rating to a “hold” rating in a report on Thursday, March 19th. 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. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $99.87.

Lennar Trading Up 1.9%

Shares of LEN stock opened at $90.38 on Friday. The stock 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. The stock has a 50-day moving average of $95.71 and a 200-day moving average of $110.36. The company has a current ratio of 4.77, a quick ratio of 0.97 and a debt-to-equity ratio of 0.18. Lennar Corporation has a 1-year low of $83.03 and a 1-year high of $144.24.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share (EPS) 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 firm had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same quarter last year, the firm posted $2.14 EPS. The firm’s revenue for the quarter was down 13.3% on a year-over-year basis. On average, equities research analysts forecast that Lennar Corporation will post 5.91 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd will be paid 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 yield of 2.2%. Lennar’s dividend payout ratio (DPR) 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.