Lennar Corporation $LEN Stake Raised by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its holdings in Lennar Corporation (NYSE:LEN) by 7.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 95,811 shares of the construction company’s stock after purchasing an additional 6,391 shares during the quarter. Allianz Asset Management GmbH’s holdings in Lennar were worth $12,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in LEN. Guerra Advisors Inc acquired a new position in shares of Lennar during the third quarter valued at $25,000. FNY Investment Advisers LLC bought a new position in Lennar in the 2nd quarter valued at about $33,000. Rexford Capital Inc. acquired a new position in Lennar during the 2nd quarter valued at about $36,000. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Lennar during the 2nd quarter worth about $43,000. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of Lennar in the 2nd quarter worth approximately $47,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LEN. The Goldman Sachs Group reissued a “neutral” rating and set a $125.00 target price on shares of Lennar in a report on Tuesday, January 13th. Bank of America reiterated an “underperform” rating and set a $95.00 price target (down from $125.00) on shares of Lennar in a research report on Thursday, December 18th. Wall Street Zen lowered Lennar from a “hold” rating to a “sell” rating in a report on Monday, December 8th. Wells Fargo & Company lowered their target price on Lennar from $110.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 6th. Finally, Barclays reduced their price objective on shares of Lennar from $98.00 to $88.00 and set an “underweight” rating for the company in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and eight have given a Sell rating to the company. According to MarketBeat, Lennar currently has a consensus rating of “Reduce” and an average price target of $106.38.

Lennar Stock Performance

Lennar stock opened at $114.15 on Monday. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $144.24. The firm’s 50 day simple moving average is $113.95 and its 200-day simple moving average is $121.81. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.89 and a quick ratio of 1.36. The company has a market cap of $29.11 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44.

Lennar (NYSE:LEN) last posted its quarterly earnings data 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 return on equity of 9.27% and a net margin of 6.08%.The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.17 billion. During the same period in the prior year, the business posted $4.03 EPS. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, equities research analysts predict that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

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