Pictet Asset Management Holding SA Has $47.41 Million Stock Position in Lennar Co. (NYSE:LEN)

Pictet Asset Management Holding SA lessened its holdings in shares of Lennar Co. (NYSE:LEN) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 347,688 shares of the construction company’s stock after selling 24,878 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.13% of Lennar worth $47,414,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of LEN. CreativeOne Wealth LLC raised its position in shares of Lennar by 3.7% in the third quarter. CreativeOne Wealth LLC now owns 4,287 shares of the construction company’s stock valued at $804,000 after purchasing an additional 151 shares during the period. Bamco Inc. NY raised its holdings in Lennar by 2.6% in the 3rd quarter. Bamco Inc. NY now owns 711,023 shares of the construction company’s stock valued at $133,303,000 after acquiring an additional 17,834 shares during the period. Community Bank N.A. lifted its position in Lennar by 14.6% during the third quarter. Community Bank N.A. now owns 4,465 shares of the construction company’s stock worth $837,000 after acquiring an additional 570 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of Lennar during the third quarter worth approximately $115,229,000. Finally, Hilltop Holdings Inc. acquired a new position in shares of Lennar in the third quarter valued at approximately $533,000. Institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

LEN has been the subject of several research reports. Wells Fargo & Company dropped their price target on Lennar from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Tuesday, March 18th. UBS Group reduced their target price on shares of Lennar from $183.00 to $164.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Citigroup lowered their price target on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Wolfe Research downgraded shares of Lennar from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Lennar from $141.00 to $128.00 and set a “market perform” rating on the stock in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $151.07.

Lennar Price Performance

LEN stock opened at $113.83 on Monday. The stock has a market cap of $30.22 billion, a price-to-earnings ratio of 7.94, a P/E/G ratio of 1.24 and a beta of 1.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The company has a 50 day simple moving average of $124.05 and a 200 day simple moving average of $150.94. Lennar Co. has a 1 year low of $111.26 and a 1 year high of $187.61.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.44. The company had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. Lennar’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.57 EPS. Research analysts anticipate that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) is currently 14.57%.

Lennar Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company’s homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties.