Envestnet Asset Management Inc. Acquires 75,574 Shares of Lennar Corporation $LEN

Envestnet Asset Management Inc. boosted its stake in shares of Lennar Corporation (NYSE:LEN) by 7.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,154,892 shares of the construction company’s stock after purchasing an additional 75,574 shares during the period. Envestnet Asset Management Inc.’s holdings in Lennar were worth $145,563,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Viking Global Investors LP boosted its stake in shares of Lennar by 86.7% during the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after purchasing an additional 1,172,068 shares in the last quarter. Swiss National Bank lifted its holdings in Lennar by 4.3% during the second quarter. Swiss National Bank now owns 702,872 shares of the construction company’s stock worth $77,745,000 after buying an additional 29,300 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Lennar by 16.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 454,585 shares of the construction company’s stock valued at $50,282,000 after acquiring an additional 65,485 shares during the period. Basswood Capital Management L.L.C. raised its position in shares of Lennar by 10.6% in the 2nd quarter. Basswood Capital Management L.L.C. now owns 448,984 shares of the construction company’s stock worth $49,662,000 after acquiring an additional 43,051 shares in the last quarter. Finally, River Road Asset Management LLC lifted its stake in shares of Lennar by 86.1% during the 2nd 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. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Zacks Research lowered Lennar from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. Citizens Jmp reaffirmed a “market perform” rating on shares of Lennar in a research report on Wednesday, January 7th. Bank of America reiterated an “underperform” rating and issued a $95.00 target price (down from $125.00) on shares of Lennar in a research note on Thursday, December 18th. Keefe, Bruyette & Woods dropped their price objective on Lennar from $125.00 to $115.00 and set a “market perform” rating on the stock in a report on Thursday, December 18th. Finally, UBS Group downgraded Lennar from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $137.00 to $122.00 in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have issued a Hold rating and eight have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $106.38.

Lennar Stock Performance

NYSE LEN opened at $114.15 on Friday. The company has a current ratio of 4.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18. The stock has a market cap of $29.11 billion, a PE ratio of 14.29, a P/E/G ratio of 1.68 and a beta of 1.44. The stock has a fifty day simple moving average of $113.95 and a 200-day simple moving average of $121.76. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $144.24.

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

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Wednesday, February 4th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $2.00 annualized dividend and a yield of 1.8%. Lennar’s dividend payout ratio (DPR) is 25.03%.

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.