Lennar Corporation $LEN Shares Purchased by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC boosted its position in shares of Lennar Corporation (NYSE:LEN) by 28.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 owned approximately 0.09% of Lennar worth $23,130,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of LEN. Brighton Jones LLC raised its stake in Lennar by 27.9% during the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after purchasing an additional 377 shares during the period. Intech Investment Management LLC raised its stake in Lennar by 29.8% during the first quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company’s stock worth $1,589,000 after purchasing an additional 3,177 shares during the period. Jump Financial LLC raised its stake in Lennar by 15.0% during the second quarter. Jump Financial LLC now owns 25,622 shares of the construction company’s stock worth $2,834,000 after purchasing an additional 3,345 shares during the period. Cary Street Partners Financial LLC purchased a new position in Lennar during the second quarter worth about $47,000. Finally, Daiwa Securities Group Inc. raised its stake in Lennar by 4.6% during the second quarter. Daiwa Securities Group Inc. now owns 34,958 shares of the construction company’s stock worth $3,867,000 after purchasing an additional 1,544 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Evercore reduced their target price on shares of Lennar from $89.00 to $82.00 and set an “underperform” rating on the stock in a research note on Monday, April 13th. Citigroup reduced their price target on shares of Lennar from $113.00 to $104.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 17th. Truist Financial decreased their price objective on shares of Lennar from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Tuesday, March 31st. UBS Group decreased their price objective on shares of Lennar from $122.00 to $107.00 and set a “neutral” rating on the stock in a report on Monday, March 16th. Finally, Seaport Research Partners restated a “sell” rating and issued a $74.00 price objective (down from $140.00) on shares of Lennar in a report on Tuesday, April 7th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and eight have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $99.87.

Lennar Stock Performance

Shares of LEN stock opened at $82.28 on Monday. The firm’s 50 day moving average price is $91.05 and its 200-day moving average price is $107.70. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 4.77. Lennar Corporation has a one year low of $82.06 and a one year high of $144.24. The firm has a market cap of $20.32 billion, a P/E ratio of 11.82, a P/E/G ratio of 1.82 and a beta of 1.41.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, March 12th. The construction company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.07). Lennar had a return on equity of 7.80% and a net margin of 5.39%.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 prior year, the company posted $2.14 earnings per share. The business’s revenue was down 13.3% compared to the same quarter last year. As a group, equities research analysts predict that Lennar Corporation will post 5.87 EPS for the current year.

Lennar Announces Dividend

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

About Lennar

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.