Peterson Wealth Services Purchases 10,167 Shares of Lennar Corporation $LEN

Peterson Wealth Services boosted its position in Lennar Corporation (NYSE:LEN) by 872.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,332 shares of the construction company’s stock after purchasing an additional 10,167 shares during the period. Peterson Wealth Services’ holdings in Lennar were worth $1,428,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Viking Global Investors LP boosted its position in Lennar by 86.7% during the 2nd quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock worth $279,135,000 after buying an additional 1,172,068 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Lennar during the second quarter worth $25,440,000. River Road Asset Management LLC grew its stake in shares of Lennar by 86.1% in the second quarter. River Road Asset Management LLC now owns 443,477 shares of the construction company’s stock worth $49,749,000 after purchasing an additional 205,234 shares during the last quarter. Aviva PLC lifted its holdings in Lennar by 1,656.1% during the 2nd quarter. Aviva PLC now owns 155,626 shares of the construction company’s stock worth $17,214,000 after buying an additional 146,764 shares during the period. Finally, Luxor Capital Group LP acquired a new position in Lennar during the 2nd quarter worth about $10,950,000. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LEN has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price objective on Lennar from $110.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 6th. Citizens Jmp reaffirmed a “market perform” rating on shares of Lennar in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods decreased their price objective on shares of Lennar from $125.00 to $115.00 and set a “market perform” rating for the company in a research report on Thursday, December 18th. BTIG Research set a $90.00 target price on shares of Lennar in a report on Thursday, December 18th. Finally, Evercore ISI downgraded Lennar from an “in-line” rating to an “underperform” rating and decreased their price target for the stock from $114.00 to $92.00 in a report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and eight have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $106.38.

Lennar Trading Down 0.4%

NYSE:LEN opened at $108.91 on Tuesday. The firm has a fifty day simple moving average of $115.31 and a two-hundred day simple moving average of $121.79. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $144.24. The stock has a market capitalization of $27.77 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.60 and a beta of 1.44. The company has a current ratio of 4.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18.

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

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Wednesday, February 4th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $2.00 annualized dividend and a dividend yield of 1.8%. Lennar’s payout ratio is presently 25.03%.

Lennar Company 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.