Cresset Asset Management LLC Decreases Holdings in Lennar Co. (NYSE:LEN)

Cresset Asset Management LLC reduced its position in Lennar Co. (NYSE:LEN - Free Report) by 89.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,063 shares of the construction company's stock after selling 18,098 shares during the quarter. Cresset Asset Management LLC's holdings in Lennar were worth $281,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Polianta Ltd purchased a new position in Lennar in the fourth quarter worth $900,000. Pacer Advisors Inc. lifted its stake in shares of Lennar by 22.0% in the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company's stock valued at $446,110,000 after purchasing an additional 589,553 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Lennar by 51.8% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 26,382 shares of the construction company's stock valued at $3,597,000 after purchasing an additional 9,000 shares in the last quarter. Clear Harbor Asset Management LLC raised its holdings in shares of Lennar by 25.0% during the 4th quarter. Clear Harbor Asset Management LLC now owns 16,501 shares of the construction company's stock valued at $2,250,000 after buying an additional 3,303 shares during the period. Finally, Swedbank AB increased its holdings in Lennar by 1.5% during the 4th quarter. Swedbank AB now owns 167,182 shares of the construction company's stock worth $22,799,000 after purchasing an additional 2,473 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LEN shares. Bank of America reduced their price objective on Lennar from $140.00 to $130.00 and set a "neutral" rating for the company in a research report on Tuesday, March 18th. Seaport Res Ptn raised Lennar from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. UBS Group lowered their price objective on Lennar from $183.00 to $164.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Wells Fargo & Company lowered their target price on Lennar from $120.00 to $110.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Finally, The Goldman Sachs Group reduced their price objective on Lennar from $141.00 to $120.00 and set a "neutral" rating for the company in a research report on Tuesday, March 25th. Fifteen investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $150.07.

Lennar Stock Performance

Shares of NYSE LEN traded down $0.18 during midday trading on Friday, reaching $105.12. The company's stock had a trading volume of 2,072,626 shares, compared to its average volume of 2,627,521. Lennar Co. has a 12-month low of $98.42 and a 12-month high of $187.61. 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 firm has a 50 day moving average price of $109.61 and a 200-day moving average price of $130.35. The stock has a market capitalization of $27.73 billion, a P/E ratio of 7.33, a PEG ratio of 1.24 and a beta of 1.41.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.44 billion. During the same period last year, the company earned $2.57 earnings per share. The business's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities analysts predict that Lennar Co. will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.90%. Lennar's dividend payout ratio 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.