Pacific Heights Asset Management LLC Increases Stake in Lennar Corporation $LEN

Pacific Heights Asset Management LLC increased its holdings in shares of Lennar Corporation (NYSE:LEN) by 28.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 225,000 shares of the construction company’s stock after purchasing an additional 50,000 shares during the period. Pacific Heights Asset Management LLC’s holdings in Lennar were worth $23,130,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Guerra Advisors Inc acquired a new position in Lennar during the 3rd quarter worth approximately $25,000. KERR FINANCIAL PLANNING Corp acquired a new position in Lennar during the 3rd quarter worth approximately $25,000. Redmont Wealth Advisors LLC acquired a new position in Lennar during the 3rd quarter worth approximately $26,000. High Point Wealth Management LLC acquired a new position in Lennar during the 4th quarter worth approximately $31,000. Finally, Washington Trust Advisors Inc. grew its holdings in Lennar by 102.7% during the 3rd quarter. Washington Trust Advisors Inc. now owns 371 shares of the construction company’s stock worth $47,000 after acquiring an additional 188 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on LEN shares. UBS Group lowered their price target on shares of Lennar from $122.00 to $107.00 and set a “neutral” rating for the company in a report on Monday, March 16th. Evercore lowered their price target on shares of Lennar from $89.00 to $82.00 and set an “underperform” rating for the company in a report on Monday, April 13th. Weiss Ratings cut shares of Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 16th. Barclays lowered their price target on shares of Lennar from $85.00 to $80.00 and set an “underweight” rating for the company in a report on Wednesday, April 8th. Finally, Seaport Research Partners reiterated a “sell” rating and set a $74.00 price target (down from $140.00) on shares of Lennar in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and eight have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Lennar presently has an average rating of “Reduce” and an average price target of $99.87.

Lennar Trading Down 0.0%

Shares of Lennar stock opened at $82.28 on Monday. The company has a fifty day simple moving average of $91.05 and a 200-day simple moving average of $107.70. Lennar Corporation has a 12-month low of $82.06 and a 12-month high of $144.24. The company has a current ratio of 4.77, a quick ratio of 0.97 and a debt-to-equity ratio of 0.18. The stock has a market cap of $20.32 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 1.82 and a beta of 1.41.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.07). Lennar had a net margin of 5.39% and a return on equity of 7.80%. The company had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the previous year, the company posted $2.14 EPS. The company’s quarterly revenue was down 13.3% on a year-over-year basis. On average, equities analysts forecast that Lennar Corporation will post 5.87 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd were issued a $0.50 dividend. The ex-dividend date was Wednesday, April 22nd. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. Lennar’s dividend payout ratio is presently 28.74%.

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.