Fisher Asset Management LLC Invests $206,000 in Lennar Co. (LEN)

Fisher Asset Management LLC acquired a new stake in shares of Lennar Co. (NYSE:LEN) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,025 shares of the construction company’s stock, valued at approximately $206,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Norman Fields Gottscho Capital Management LLC increased its stake in shares of Lennar by 1.3% in the first quarter. Norman Fields Gottscho Capital Management LLC now owns 7,775 shares of the construction company’s stock valued at $398,000 after buying an additional 100 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Lennar by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the construction company’s stock valued at $640,000 after buying an additional 100 shares during the period. Cim Investment Mangement Inc. increased its stake in shares of Lennar by 1.2% in the fourth quarter. Cim Investment Mangement Inc. now owns 14,402 shares of the construction company’s stock valued at $618,000 after buying an additional 164 shares during the period. SeaBridge Investment Advisors LLC increased its stake in shares of Lennar by 14.0% in the first quarter. SeaBridge Investment Advisors LLC now owns 2,114 shares of the construction company’s stock valued at $108,000 after buying an additional 259 shares during the period. Finally, Zacks Investment Management increased its stake in shares of Lennar by 2.1% in the third quarter. Zacks Investment Management now owns 13,012 shares of the construction company’s stock valued at $551,000 after buying an additional 262 shares during the period. Hedge funds and other institutional investors own 79.04% of the company’s stock.

Institutional Ownership by Quarter for Lennar (NYSE:LEN)

Shares of Lennar Co. (NYSE:LEN) traded up 1.27% during trading on Friday, hitting $51.75. The stock had a trading volume of 491,016 shares. Lennar Co. has a 12 month low of $39.68 and a 12 month high of $53.79. The stock has a 50 day moving average of $51.00 and a 200 day moving average of $46.97. The company has a market cap of $12.13 billion, a PE ratio of 14.97 and a beta of 1.27.

Lennar (NYSE:LEN) last posted its earnings results on Tuesday, March 21st. The construction company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.18 billion. Lennar had a return on equity of 13.80% and a net margin of 8.33%. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 earnings per share. Equities analysts forecast that Lennar Co. will post $3.82 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 16th. Shareholders of record on Tuesday, May 2nd were paid a dividend of $0.04 per share. The ex-dividend date was Friday, April 28th. This represents a $0.16 annualized dividend and a yield of 0.31%. Lennar’s payout ratio is currently 4.07%.

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Several equities research analysts recently issued reports on LEN shares. Zacks Investment Research upgraded Lennar from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Friday, March 17th. BTIG Research began coverage on Lennar in a research note on Tuesday, February 7th. They issued a “buy” rating and a $56.00 price objective for the company. Mizuho began coverage on Lennar in a research note on Tuesday. They issued a “buy” rating and a $59.00 price objective for the company. Deutsche Bank AG reduced their price objective on Lennar from $52.00 to $49.00 and set a “hold” rating for the company in a research note on Thursday, March 23rd. Finally, Citigroup Inc assumed coverage on Lennar in a research note on Tuesday, February 14th. They issued a “neutral” rating and a $52.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $54.13.

About Lennar

Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.

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