26,115 Lennar Corporation $LEN Shares Acquired by Fulcrum Asset Management LLP

Key Points

• Fulcrum Asset Management increased its Lennar stake by 269.6% in the third quarter, buying 26,115 shares to reach 35,803 shares worth about $2.97 million.
• Analyst sentiment is strongly negative: 11 analysts rate Lennar Sell and seven Hold, giving the stock a “Strong Sell” consensus and an average price target of $78.87.
• Lennar’s latest quarterly results fell short of expectations: EPS was $1.23 versus $1.29 forecast, while revenue declined 8.7% year over year to $8.05 billion. Berkshire Hathaway separately bought about 1.71 million shares.

Fulcrum Asset Management LLP grew its holdings in shares of Lennar Corporation (NYSE:LEN - Free Report) by 269.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,803 shares of the construction company's stock after purchasing an additional 26,115 shares during the period. Fulcrum Asset Management LLP's holdings in Lennar were worth $2,972,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Fifth Third Wealth Advisors LLC increased its position in Lennar by 2.5% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,067 shares of the construction company's stock valued at $413,000 after buying an additional 124 shares in the last quarter. KCM Investment Advisors LLC raised its stake in Lennar by 1.3% in the first quarter. KCM Investment Advisors LLC now owns 9,879 shares of the construction company's stock valued at $858,000 after buying an additional 125 shares during the last quarter. Wisconsin Wealth Advisors LLC boosted its holdings in Lennar by 2.2% in the third quarter. Wisconsin Wealth Advisors LLC now owns 6,495 shares of the construction company's stock worth $530,000 after acquiring an additional 140 shares in the last quarter. Wedmont Private Capital boosted its holdings in Lennar by 4.8% in the second quarter. Wedmont Private Capital now owns 3,460 shares of the construction company's stock worth $292,000 after acquiring an additional 157 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. grew its stake in shares of Lennar by 100.0% during the third quarter. Quest 10 Wealth Builders Inc. now owns 368 shares of the construction company's stock worth $30,000 after acquiring an additional 184 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LEN shares. Keefe, Bruyette & Woods cut their price objective on shares of Lennar from $85.00 to $75.00 and set an "underperform" rating on the stock in a report on Tuesday, September 22nd. Weiss Ratings cut shares of Lennar from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, October 21st. Citigroup dropped their target price on shares of Lennar from $88.00 to $85.00 and set a "neutral" rating on the stock in a research report on Monday, September 21st. Morgan Stanley cut their price target on shares of Lennar from $65.00 to $58.00 and set an "underweight" rating on the stock in a research note on Tuesday, November 3rd. Finally, Citizens Jmp reaffirmed a "hold" rating on shares of Lennar in a report on Thursday, September 17th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and eleven have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Strong Sell" and an average price target of $78.87.

Lennar Stock Performance

Shares of LEN opened at $91.69 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.69 and a current ratio of 4.94. The stock has a 50-day moving average of $81.48 and a two-hundred day moving average of $90.71. The stock has a market cap of $21.81 billion, a P/E ratio of 16.92, a P/E/G ratio of 3.48 and a beta of 1.36. Lennar Corporation has a one year low of $71.78 and a one year high of $133.76.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings data on Wednesday, September 16th. The construction company reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates of $1.29 by ($0.06). Lennar had a net margin of 4.09% and a return on equity of 6.15%. The firm had revenue of $8.05 billion during the quarter, compared to analyst estimates of $8.32 billion. During the same period in the prior year, the company posted $2.00 earnings per share. The firm's revenue for the quarter was down 8.7% on a year-over-year basis. As a group, research analysts predict that Lennar Corporation will post 4.86 EPS for the current year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 22nd. Investors of record on Wednesday, October 7th were given a $0.50 dividend. The ex-dividend date was Wednesday, October 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. Lennar's dividend payout ratio is currently 37.81%.

Insider Buying and Selling

In other Lennar news, major shareholder Berkshire Hathaway Inc purchased 1,708,095 shares of the business's stock in a transaction that occurred on Friday, October 2nd. The shares were bought at an average price of $79.44 per share, for a total transaction of $135,691,066.80. Following the acquisition, the insider owned 28,438,045 shares in the company, valued at $2,259,118,294.80. This represents a 6.39% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders purchased a total of 7,502,276 shares of company stock valued at $595,303,287 in the last 90 days. 10.05% of the stock is owned by corporate insiders.

Lennar Profile

Want to see what other hedge funds are holding LEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lennar Corporation (NYSE:LEN - Free Report).

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