Pacific Heights Asset Management LLC Grows Position in Lennar Corporation $LEN

Pacific Heights Asset Management LLC increased its position in Lennar Corporation (NYSE:LEN) by 25.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 175,000 shares of the construction company’s stock after purchasing an additional 35,000 shares during the period. Lennar makes up 1.0% of Pacific Heights Asset Management LLC’s holdings, making the stock its 29th biggest holding. Pacific Heights Asset Management LLC’s holdings in Lennar were worth $22,057,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC increased its position in shares of Lennar by 7.1% in the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock valued at $141,000 after acquiring an additional 85 shares during the period. ORG Wealth Partners LLC grew its stake in shares of Lennar by 5.2% in the third quarter. ORG Wealth Partners LLC now owns 2,072 shares of the construction company’s stock worth $261,000 after purchasing an additional 102 shares during the last quarter. Harbor Investment Advisory LLC increased its holdings in Lennar by 39.7% during the 3rd quarter. Harbor Investment Advisory LLC now owns 405 shares of the construction company’s stock valued at $51,000 after purchasing an additional 115 shares during the period. Brighton Jones LLC raised its position in Lennar by 6.1% during the 2nd quarter. Brighton Jones LLC now owns 2,049 shares of the construction company’s stock valued at $227,000 after purchasing an additional 118 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its holdings in Lennar by 1.9% in the 2nd quarter. Coldstream Capital Management Inc. now owns 6,430 shares of the construction company’s stock worth $711,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Stock Down 3.0%

Shares of Lennar stock opened at $118.57 on Tuesday. The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $144.24. The company has a market cap of $30.24 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 1.37 and a beta of 1.42. The company’s 50 day moving average is $116.88 and its 200 day moving average is $121.76.

Lennar (NYSE:LEN) last released its quarterly earnings results on Tuesday, December 16th. The construction company reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.27). The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.17 billion. Lennar had a return on equity of 9.27% and a net margin of 6.08%.The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the business earned $4.03 earnings per share. Research analysts anticipate that Lennar Corporation will post 12.48 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on LEN. JMP Securities boosted their target price on Lennar from $130.00 to $140.00 and gave the company a “market outperform” rating in a research note on Monday, September 22nd. JPMorgan Chase & Co. dropped their price target on Lennar from $115.00 to $80.00 and set an “underweight” rating on the stock in a research report on Thursday, December 18th. Keefe, Bruyette & Woods decreased their price objective on Lennar from $125.00 to $115.00 and set a “market perform” rating for the company in a report on Thursday, December 18th. Evercore ISI lowered Lennar from an “in-line” rating to an “underperform” rating and lowered their price objective for the company from $114.00 to $92.00 in a research report on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lennar in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have assigned a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat, Lennar presently has a consensus rating of “Reduce” and an average price target of $106.38.

Lennar Profile

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.