Swedbank AB Has $8.85 Million Holdings in Lennar Corporation $LEN

Swedbank AB lessened its holdings in shares of Lennar Corporation (NYSE:LEN) by 11.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,091 shares of the construction company’s stock after selling 11,470 shares during the period. Swedbank AB’s holdings in Lennar were worth $8,850,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in LEN. Viking Global Investors LP grew 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 worth $279,135,000 after purchasing an additional 1,172,068 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Lennar by 14.6% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock worth $596,504,000 after acquiring an additional 603,004 shares in the last quarter. Todd Asset Management LLC acquired a new stake in shares of Lennar during the 3rd quarter worth approximately $26,371,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of Lennar by 319.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 274,173 shares of the construction company’s stock worth $34,557,000 after acquiring an additional 208,800 shares in the last quarter. Finally, Duquesne Family Office LLC boosted its position in shares of Lennar by 210.8% during the 3rd quarter. Duquesne Family Office LLC now owns 279,424 shares of the construction company’s stock worth $35,219,000 after acquiring an additional 189,524 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Performance

Shares of Lennar stock opened at $89.28 on Wednesday. Lennar Corporation has a fifty-two week low of $81.18 and a fifty-two week high of $144.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97. The firm has a market capitalization of $22.05 billion, a P/E ratio of 12.83, a P/E/G ratio of 1.96 and a beta of 1.41. The company’s 50 day moving average price is $89.48 and its two-hundred day moving average price is $105.92.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). Lennar had a net margin of 5.39% and a return on equity of 7.80%. The company had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the prior year, the business earned $2.14 EPS. The business’s quarterly revenue was down 13.3% on a year-over-year basis. On average, equities analysts forecast that Lennar Corporation will post 5.87 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were given a $0.50 dividend. The ex-dividend date was Wednesday, April 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. Lennar’s dividend payout ratio (DPR) is currently 28.74%.

Analyst Ratings Changes

Several research firms recently issued reports on LEN. Zacks Research upgraded shares of Lennar from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. Wells Fargo & Company reduced their price target on shares of Lennar from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Seaport Research Partners reiterated a “sell” rating and set a $74.00 price target (down from $140.00) on shares of Lennar in a research report on Tuesday, April 7th. Argus reduced their price target on shares of Lennar from $140.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Finally, Evercore reduced their price target on shares of Lennar from $89.00 to $82.00 and set an “underperform” rating on the stock in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and eight have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $99.87.

Lennar Company Profile

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.