Lennar Co. (NYSE:LEN) Shares Purchased by Swedbank AB

Swedbank AB grew its holdings in shares of Lennar Co. (NYSE:LEN) by 5.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 164,709 shares of the construction company’s stock after purchasing an additional 8,405 shares during the period. Swedbank AB owned approximately 0.06% of Lennar worth $30,880,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Empirical Asset Management LLC raised its position in Lennar by 5.7% in the third quarter. Empirical Asset Management LLC now owns 2,322 shares of the construction company’s stock worth $435,000 after acquiring an additional 125 shares in the last quarter. Sapient Capital LLC increased its holdings in shares of Lennar by 0.4% in the 3rd quarter. Sapient Capital LLC now owns 106,823 shares of the construction company’s stock valued at $20,027,000 after purchasing an additional 474 shares in the last quarter. Procyon Advisors LLC lifted its stake in shares of Lennar by 1.5% in the third quarter. Procyon Advisors LLC now owns 9,714 shares of the construction company’s stock valued at $1,821,000 after purchasing an additional 148 shares during the period. Koshinski Asset Management Inc. purchased a new stake in Lennar during the third quarter worth about $332,000. Finally, Crestmont Private Wealth LLC acquired a new position in Lennar during the third quarter worth about $223,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Price Performance

LEN opened at $188.41 on Thursday. Lennar Co. has a 1 year low of $102.90 and a 1 year high of $193.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The company’s 50 day simple moving average is $180.85 and its 200 day simple moving average is $166.49. The stock has a market capitalization of $51.74 billion, a PE ratio of 12.81, a P/E/G ratio of 1.68 and a beta of 1.61.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.28. The company had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.91 EPS. As a group, sell-side analysts expect that Lennar Co. will post 14.28 EPS for the current year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

Analyst Ratings Changes

Several brokerages have recently commented on LEN. Raymond James lowered Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Argus upped their target price on Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. Wedbush reissued a “neutral” rating and issued a $144.00 price objective on shares of Lennar in a research note on Friday, September 20th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lennar presently has a consensus rating of “Hold” and an average price target of $181.11.

About Lennar

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, Financial Services, Multifamily, and Lennar Other 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; and development, construction, and management of multifamily rental properties.