Envestnet Asset Management Inc. Grows Stock Position in Lennar Corporation $LEN

Envestnet Asset Management Inc. boosted its position in shares of Lennar Corporation (NYSE:LEN) by 7.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,154,892 shares of the construction company’s stock after buying an additional 75,574 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.45% of Lennar worth $145,563,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of LEN. Brighton Jones LLC increased its position in Lennar by 27.9% during the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock valued at $236,000 after purchasing an additional 377 shares during the period. Intech Investment Management LLC boosted its position in Lennar by 29.8% during the 1st quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company’s stock valued at $1,589,000 after acquiring an additional 3,177 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in shares of Lennar by 8.3% during the 2nd quarter. Belpointe Asset Management LLC now owns 3,821 shares of the construction company’s stock worth $423,000 after acquiring an additional 294 shares during the period. Prime Capital Investment Advisors LLC raised its position in shares of Lennar by 10.7% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 9,365 shares of the construction company’s stock worth $1,036,000 after acquiring an additional 905 shares in the last quarter. Finally, Freedom Day Solutions LLC boosted its position in shares of Lennar by 3.1% during the second quarter. Freedom Day Solutions LLC now owns 18,185 shares of the construction company’s stock valued at $2,011,000 after purchasing an additional 541 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lowered their price target on shares of Lennar from $110.00 to $105.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 6th. JPMorgan Chase & Co. lowered their target price on shares of Lennar from $115.00 to $80.00 and set an “underweight” rating for the company in a report on Thursday, December 18th. Evercore downgraded Lennar from an “in-line” rating to an “underperform” rating and cut their price target for the stock from $114.00 to $92.00 in a research note on Thursday, December 18th. Royal Bank Of Canada set a $88.00 price objective on Lennar in a research note on Friday, January 9th. Finally, Barclays reduced their price target on Lennar from $98.00 to $88.00 and set an “underweight” rating for the company in a report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have given a Hold rating and eight have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $106.38.

Lennar Stock Performance

Shares of LEN opened at $114.15 on Friday. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $144.24. The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18. The stock has a market cap of $29.11 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.68 and a beta of 1.44. The business has a 50-day simple moving average of $113.95 and a two-hundred day simple moving average of $121.76.

Lennar (NYSE:LEN) last posted its quarterly 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 business had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.17 billion. During the same period in the prior year, the business earned $4.03 earnings per share. Lennar’s revenue was down 5.8% compared to the same quarter last year. On average, analysts expect that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Wednesday, February 4th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, February 4th. This represents a $2.00 dividend on an annualized basis and a yield of 1.8%. Lennar’s dividend payout ratio is 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.