Pictet Asset Management Holding SA Trims Holdings in Lennar Co. (NYSE:LEN)

Pictet Asset Management Holding SA reduced its holdings in shares of Lennar Co. (NYSE:LEN - Free Report) by 6.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 347,688 shares of the construction company's stock after selling 24,878 shares during the period. Pictet Asset Management Holding SA owned approximately 0.13% of Lennar worth $47,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LEN. Polianta Ltd purchased a new stake in shares of Lennar during the fourth quarter valued at $900,000. Nordea Investment Management AB lifted its position in Lennar by 21.4% during the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company's stock worth $308,696,000 after acquiring an additional 397,492 shares during the period. Kovitz Investment Group Partners LLC grew its stake in Lennar by 71.7% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 14,327 shares of the construction company's stock valued at $2,686,000 after purchasing an additional 5,981 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Lennar by 22.0% in the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company's stock valued at $446,110,000 after purchasing an additional 589,553 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Lennar by 51.8% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 26,382 shares of the construction company's stock worth $3,597,000 after purchasing an additional 9,000 shares during the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several equities analysts recently weighed in on LEN shares. Wedbush reiterated a "neutral" rating and issued a $158.00 price target on shares of Lennar in a report on Monday, March 17th. Wells Fargo & Company reduced their target price on shares of Lennar from $130.00 to $125.00 and set an "equal weight" rating for the company in a report on Tuesday, March 18th. StockNews.com lowered shares of Lennar from a "hold" rating to a "sell" rating in a report on Saturday, March 29th. Wolfe Research lowered Lennar from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 8th. Finally, Seaport Res Ptn upgraded Lennar from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $151.07.

Lennar Price Performance

Shares of LEN stock traded up $2.47 on Friday, reaching $110.87. 7,728,176 shares of the company were exchanged, compared to its average volume of 2,516,867. Lennar Co. has a 1 year low of $104.15 and a 1 year high of $187.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. The business has a 50-day moving average price of $121.78 and a 200 day moving average price of $148.91. The company has a market cap of $29.44 billion, a price-to-earnings ratio of 7.73, a P/E/G ratio of 1.24 and a beta of 1.51.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business's revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.57 earnings per share. Equities research analysts forecast that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Wednesday, January 29th. Lennar's dividend payout ratio is currently 14.57%.

Lennar Company 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.