Lennar Corporation $LEN Stock Position Lowered by Swedbank AB

Swedbank AB decreased its position in Lennar Corporation (NYSE:LEN) by 66.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 29,007 shares of the construction company’s stock after selling 57,084 shares during the period. Swedbank AB’s holdings in Lennar were worth $2,519,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of LEN. Lazard Asset Management LLC lifted its holdings in Lennar by 7.1% in the 2nd quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock valued at $141,000 after acquiring an additional 85 shares during the last quarter. Rossby Financial LCC grew its stake in shares of Lennar by 9.1% in the 4th quarter. Rossby Financial LCC now owns 1,059 shares of the construction company’s stock worth $109,000 after purchasing an additional 88 shares during the last quarter. New Mexico Educational Retirement Board raised its holdings in shares of Lennar by 1.0% in the 4th quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company’s stock worth $1,086,000 after purchasing an additional 100 shares in the last quarter. KDT Advisors LLC lifted its stake in Lennar by 2.7% during the third quarter. KDT Advisors LLC now owns 4,654 shares of the construction company’s stock valued at $587,000 after purchasing an additional 123 shares during the last quarter. Finally, Orion Porfolio Solutions LLC boosted its holdings in Lennar by 0.7% during the fourth quarter. Orion Porfolio Solutions LLC now owns 17,725 shares of the construction company’s stock worth $1,822,000 after buying an additional 130 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Stock Down 0.1%

NYSE:LEN traded down $0.11 during trading hours on Friday, hitting $84.24. 2,153,269 shares of the stock traded hands, compared to its average volume of 2,777,162. The firm has a market cap of $20.29 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 2.80 and a beta of 1.38. The firm has a 50 day moving average price of $88.66 and a 200 day moving average price of $98.59. The company has a current ratio of 4.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. Lennar Corporation has a fifty-two week low of $81.18 and a fifty-two week high of $144.24.

Lennar (NYSE:LEN) last released its earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.07. The company had revenue of $7.94 billion for the quarter, compared to analysts’ expectations of $8.08 billion. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.81 EPS. Equities research analysts anticipate that Lennar Corporation will post 5.52 earnings per share for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 10th will be given a $0.50 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. Lennar’s dividend payout ratio is presently 31.30%.

Analysts Set New Price Targets

Several research firms have issued reports on LEN. BTIG Research set a $67.00 price target on Lennar in a report on Monday, June 15th. The Goldman Sachs Group restated a “neutral” rating on shares of Lennar in a report on Friday, June 5th. UBS Group cut their target price on Lennar from $107.00 to $94.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 16th. Wells Fargo & Company decreased their price target on Lennar from $90.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, June 15th. Finally, Keefe, Bruyette & Woods dropped their price target on Lennar from $86.00 to $85.00 and set an “underperform” rating on the stock in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and ten have issued a Sell rating to the company. According to MarketBeat, Lennar presently has a consensus rating of “Reduce” and a consensus price target of $93.87.

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.