AMF Pensionsforsakring AB Acquires New Holdings in Lennar Co. (LEN)
AMF Pensionsforsakring AB acquired a new position in Lennar Co. (NYSE:LEN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 363,456 shares of the construction company’s stock, valued at approximately $14,229,000. AMF Pensionsforsakring AB owned about 0.11% of Lennar as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the stock. Paragon Capital Management Ltd acquired a new position in Lennar during the fourth quarter valued at approximately $258,000. Oppenheimer & Co. Inc. grew its holdings in Lennar by 139.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 15,185 shares of the construction company’s stock valued at $595,000 after purchasing an additional 8,835 shares during the last quarter. Signition LP grew its holdings in Lennar by 39.3% during the fourth quarter. Signition LP now owns 8,115 shares of the construction company’s stock valued at $318,000 after purchasing an additional 2,288 shares during the last quarter. Royal London Asset Management Ltd. grew its holdings in Lennar by 2.8% during the fourth quarter. Royal London Asset Management Ltd. now owns 107,783 shares of the construction company’s stock valued at $4,250,000 after purchasing an additional 2,971 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new position in Lennar during the fourth quarter valued at approximately $192,000. Hedge funds and other institutional investors own 84.30% of the company’s stock.
LEN has been the topic of several analyst reports. Deutsche Bank upgraded Lennar from a “hold” rating to a “buy” rating and lowered their price target for the company from $58.00 to $51.00 in a report on Monday, October 22nd. TheStreet downgraded shares of Lennar from a “b-” rating to a “c+” rating in a research note on Tuesday, October 23rd. JMP Securities set a $56.00 price objective on shares of Lennar and gave the stock a “buy” rating in a research note on Friday, October 5th. Wedbush upgraded shares of Lennar from a “neutral” rating to an “outperform” rating and lowered their price objective for the stock from $56.00 to $50.00 in a research note on Monday, October 29th. Finally, Royal Bank of Canada set a $53.00 price objective on shares of Lennar and gave the stock a “buy” rating in a research note on Thursday, January 10th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and fifteen have assigned a buy rating to the company. Lennar currently has an average rating of “Buy” and an average target price of $59.00.
Shares of Lennar stock opened at $47.15 on Friday. The firm has a market capitalization of $15.57 billion, a PE ratio of 7.43, a P/E/G ratio of 0.55 and a beta of 1.17. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 11.48. Lennar Co. has a 1 year low of $37.29 and a 1 year high of $64.90.
Lennar (NYSE:LEN) last issued its earnings results on Wednesday, January 9th. The construction company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.91 by $0.05. The firm had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.46 billion. Lennar had a return on equity of 13.76% and a net margin of 8.24%. Lennar’s quarterly revenue was up 70.7% compared to the same quarter last year. During the same period last year, the business earned $1.29 earnings per share. On average, sell-side analysts anticipate that Lennar Co. will post 6.02 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Friday, January 25th will be given a $0.04 dividend. The ex-dividend date of this dividend is Thursday, January 24th. This represents a $0.16 annualized dividend and a yield of 0.34%. Lennar’s dividend payout ratio (DPR) is currently 2.52%.
Lennar Company Profile
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Lennar Financial Services, Lennar Multifamily, and Rialto segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.
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