Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 23,719 Shares of Lennar Corporation $LEN

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its position in shares of Lennar Corporation (NYSE:LEN) by 38.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,682 shares of the construction company’s stock after selling 23,719 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Lennar were worth $3,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of LEN. Viking Global Investors LP lifted its holdings 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 buying an additional 1,172,068 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings 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 valued at $596,504,000 after buying an additional 603,004 shares during the period. Todd Asset Management LLC bought a new position in shares of Lennar during the 3rd quarter valued at $26,371,000. Teachers Retirement System of The State of Kentucky lifted its holdings 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 valued at $34,557,000 after buying an additional 208,800 shares during the period. Finally, Duquesne Family Office LLC lifted its holdings 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 valued at $35,219,000 after buying an additional 189,524 shares during the period. 81.10% of the stock is owned by institutional investors.

Lennar Price Performance

Shares of Lennar stock opened at $90.95 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 4.77. The stock’s fifty day moving average is $88.97 and its 200 day moving average is $104.00. The stock has a market cap of $22.46 billion, a P/E ratio of 13.07, a P/E/G ratio of 2.00 and a beta of 1.39. Lennar Corporation has a one year low of $81.18 and a one year high of $144.24.

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

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were issued a dividend of $0.50 per share. The ex-dividend date of this dividend 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 Upgrades and Downgrades

Several research firms have recently weighed in on LEN. Seaport Research Partners reissued a “sell” rating and set a $74.00 price target (down from $140.00) on shares of Lennar in a report on Tuesday, April 7th. Wells Fargo & Company decreased their target price on Lennar from $100.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Lennar in a report on Friday. Argus decreased their target price on Lennar from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Finally, Truist Financial decreased their target price on Lennar from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Tuesday, March 31st. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and eight have issued a Sell rating to the company. According to data from MarketBeat, Lennar presently has a consensus rating of “Reduce” and a consensus target price of $98.73.

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.