Pictet Asset Management Holding SA Has $47.41 Million Position in Lennar Co. (NYSE:LEN)

Pictet Asset Management Holding SA trimmed its stake in shares of Lennar Co. (NYSE:LEN) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 347,688 shares of the construction company’s stock after selling 24,878 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Lennar were worth $47,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. X Square Capital LLC lifted its holdings in Lennar by 0.9% in the fourth quarter. X Square Capital LLC now owns 16,396 shares of the construction company’s stock valued at $2,236,000 after buying an additional 141 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of Lennar in the 4th quarter valued at about $3,564,000. Loomis Sayles & Co. L P bought a new stake in shares of Lennar during the 4th quarter valued at about $82,000. NEOS Investment Management LLC grew its stake in Lennar by 28.5% during the fourth quarter. NEOS Investment Management LLC now owns 11,183 shares of the construction company’s stock worth $1,525,000 after purchasing an additional 2,483 shares during the period. Finally, UniSuper Management Pty Ltd lifted its stake in Lennar by 27.9% in the fourth quarter. UniSuper Management Pty Ltd now owns 21,340 shares of the construction company’s stock valued at $2,910,000 after buying an additional 4,658 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Stock Down 3.5 %

LEN stock opened at $113.83 on Monday. Lennar Co. has a 1-year low of $111.26 and a 1-year high of $187.61. The stock has a market cap of $30.22 billion, a P/E ratio of 7.94, a P/E/G ratio of 1.24 and a beta of 1.69. The stock’s fifty day simple moving average is $124.05 and its two-hundred day simple moving average is $150.94. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.44. The business had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.57 earnings per share. Analysts expect that Lennar Co. will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) is 14.57%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LEN. Citigroup lowered their price objective on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. The Goldman Sachs Group decreased their price target on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Bank of America reduced their target price on Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. JPMorgan Chase & Co. dropped their price target on Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Finally, BTIG Research cut Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $151.07.

About Lennar

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.