Level Four Advisory Services LLC Increases Position in Lennar Corporation $LEN

Level Four Advisory Services LLC raised its position in shares of Lennar Corporation (NYSE:LEN) by 223.8% during the third quarter, HoldingsChannel reports. The firm owned 8,559 shares of the construction company’s stock after purchasing an additional 5,916 shares during the period. Level Four Advisory Services LLC’s holdings in Lennar were worth $1,079,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Viking Global Investors LP increased its position in shares of Lennar by 86.7% during the 2nd 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 during the last quarter. Envestnet Asset Management Inc. lifted its position in Lennar by 7.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,154,892 shares of the construction company’s stock worth $145,563,000 after buying an additional 75,574 shares during the last quarter. Swiss National Bank boosted its stake in Lennar by 4.3% in 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Lennar by 5.9% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 466,027 shares of the construction company’s stock valued at $58,738,000 after acquiring an additional 26,117 shares during the last quarter. Finally, Basswood Capital Management L.L.C. raised its stake in shares of Lennar by 10.6% during the second 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. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Price Performance

Shares of LEN stock opened at $104.20 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.36 and a current ratio of 4.89. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $144.24. The firm has a market cap of $25.74 billion, a P/E ratio of 13.04, a P/E/G ratio of 1.55 and a beta of 1.43. The business’s 50 day moving average price is $113.28 and its 200-day moving average price is $121.19.

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

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Wednesday, February 4th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.9%. Lennar’s payout ratio is presently 25.03%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LEN. Evercore cut shares of Lennar from an “in-line” rating to an “underperform” rating and cut their price objective for the company from $114.00 to $92.00 in a research note on Thursday, December 18th. Argus upgraded shares of Lennar to a “strong-buy” rating in a research report on Friday, January 16th. Citizens Jmp reiterated a “market perform” rating on shares of Lennar in a report on Wednesday, January 7th. Citigroup lowered their target price on Lennar from $133.00 to $113.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Lennar in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Hold rating and eight have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $106.64.

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.