Tredje AP fonden Purchases 10,273 Shares of Lennar Corporation $LEN

Tredje AP fonden boosted its position in shares of Lennar Corporation (NYSE:LEN) by 74.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,144 shares of the construction company’s stock after buying an additional 10,273 shares during the quarter. Tredje AP fonden’s holdings in Lennar were worth $3,043,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of LEN. Concurrent Investment Advisors LLC boosted its holdings in shares of Lennar by 73.9% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 10,702 shares of the construction company’s stock valued at $1,349,000 after buying an additional 4,548 shares in the last quarter. denkapparat Operations GmbH purchased a new stake in shares of Lennar during the second quarter valued at approximately $408,000. Longfellow Investment Management Co. LLC purchased a new stake in Lennar during the 2nd quarter valued at $441,000. Swiss National Bank increased its holdings in Lennar by 4.3% in the 2nd 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. Finally, Cibc World Market Inc. raised its holdings in shares of Lennar by 993.0% during the third quarter. Cibc World Market Inc. now owns 129,487 shares of the construction company’s stock valued at $16,321,000 after purchasing an additional 117,640 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Stock Up 0.2%

LEN opened at $116.32 on Friday. The company has a market capitalization of $28.73 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.69 and a beta of 1.44. The firm has a 50-day simple moving average of $113.05 and a two-hundred day simple moving average of $122.03. The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18. Lennar Corporation has a 52 week low of $98.42 and a 52 week high of $144.24.

Lennar (NYSE:LEN) last issued its earnings results on Tuesday, December 16th. The construction company reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $9.17 billion. During the same period last year, the firm posted $4.03 earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. Analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Wednesday, February 4th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Wednesday, February 4th. Lennar’s dividend payout ratio is currently 25.03%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LEN. UBS Group downgraded Lennar from a “buy” rating to a “neutral” rating and lowered their target price for the company from $137.00 to $122.00 in a report on Tuesday, January 6th. Citizens Jmp reissued a “market perform” rating on shares of Lennar in a report on Wednesday, January 7th. Keefe, Bruyette & Woods lowered their target price on shares of Lennar from $125.00 to $115.00 and set a “market perform” rating on the stock in a research note on Thursday, December 18th. Bank of America reissued an “underperform” rating and set a $95.00 price target (down from $125.00) on shares of Lennar in a report on Thursday, December 18th. Finally, Barclays lowered their price objective on Lennar from $98.00 to $88.00 and set an “underweight” rating on the stock in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and eight have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $106.38.

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.