Pictet Asset Management Ltd. decreased its stake in shares of Lennar Co. (NYSE:LEN) by 3.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 555,912 shares of the construction company’s stock after selling 20,866 shares during the period. Pictet Asset Management Ltd.’s holdings in Lennar were worth $26,939,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. State of Wisconsin Investment Board boosted its holdings in Lennar by 64.6% in the 1st quarter. State of Wisconsin Investment Board now owns 273,325 shares of the construction company’s stock valued at $13,418,000 after purchasing an additional 107,299 shares during the period. Norinchukin Bank The boosted its holdings in Lennar by 1.3% in the 1st quarter. Norinchukin Bank The now owns 54,272 shares of the construction company’s stock valued at $2,664,000 after purchasing an additional 682 shares during the period. Teacher Retirement System of Texas bought a new stake in Lennar in the 1st quarter valued at about $680,000. Elkfork Partners LLC boosted its holdings in Lennar by 2.7% in the 2nd quarter. Elkfork Partners LLC now owns 28,700 shares of the construction company’s stock valued at $1,391,000 after purchasing an additional 756 shares during the period. Finally, CIBC World Markets Inc. boosted its holdings in Lennar by 131.5% in the 1st quarter. CIBC World Markets Inc. now owns 24,904 shares of the construction company’s stock valued at $1,223,000 after purchasing an additional 14,147 shares during the period. 83.93% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on LEN shares. ValuEngine downgraded shares of Lennar from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. SunTrust Banks started coverage on shares of Lennar in a report on Monday, August 12th. They issued a “hold” rating and a $47.00 price objective for the company. Wedbush set a $62.00 price objective on shares of Lennar and gave the company a “buy” rating in a report on Wednesday, June 26th. Raymond James downgraded shares of Lennar from an “outperform” rating to a “market perform” rating and set a $55.00 price objective for the company. in a report on Tuesday, June 18th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Lennar from a “hold” rating to a “sell” rating and set a $53.00 price objective for the company. in a report on Thursday, May 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Lennar presently has an average rating of “Buy” and an average target price of $57.10.
Shares of NYSE:LEN traded down $0.63 during midday trading on Friday, hitting $53.95. The stock had a trading volume of 107,076 shares, compared to its average volume of 2,706,851. The company’s 50-day moving average price is $50.00 and its 200-day moving average price is $50.12. The company has a market capitalization of $17.58 billion, a P/E ratio of 8.49, a price-to-earnings-growth ratio of 1.17 and a beta of 1.09. The company has a quick ratio of 0.79, a current ratio of 13.93 and a debt-to-equity ratio of 0.62. Lennar Co. has a fifty-two week low of $37.29 and a fifty-two week high of $54.98.
Lennar (NYSE:LEN) last issued its earnings results on Tuesday, June 25th. The construction company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.13 by $0.17. The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Lennar had a net margin of 8.86% and a return on equity of 12.03%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.58 EPS. Research analysts expect that Lennar Co. will post 5.32 EPS for the current fiscal year.
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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.
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