Lennar Co. (NYSE:LEN) Stake Lowered by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its stake in Lennar Co. (NYSE:LEN) by 14.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,401 shares of the construction company’s stock after selling 7,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Lennar were worth $6,055,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its stake in Lennar by 1.3% in the third quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company’s stock valued at $1,106,798,000 after buying an additional 73,638 shares during the last quarter. Pacer Advisors Inc. lifted its position in Lennar by 22.0% in the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock valued at $446,110,000 after purchasing an additional 589,553 shares during the last quarter. Smead Capital Management Inc. boosted its stake in Lennar by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after purchasing an additional 89,896 shares during the period. Nordea Investment Management AB increased its stake in shares of Lennar by 21.4% in the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after purchasing an additional 397,492 shares during the period. Finally, Bamco Inc. NY raised its holdings in shares of Lennar by 2.6% during the third quarter. Bamco Inc. NY now owns 711,023 shares of the construction company’s stock valued at $133,303,000 after buying an additional 17,834 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Wolfe Research cut Lennar from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. BTIG Research lowered Lennar from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. The Goldman Sachs Group reduced their price objective on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, December 23rd. Keefe, Bruyette & Woods lowered their target price on shares of Lennar from $170.00 to $152.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Finally, Barclays reduced their price target on shares of Lennar from $135.00 to $121.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $163.88.

Lennar Trading Down 0.7 %

Shares of NYSE LEN opened at $119.79 on Tuesday. The business has a fifty day simple moving average of $132.46 and a 200-day simple moving average of $160.68. The company has a market cap of $31.81 billion, a price-to-earnings ratio of 8.35, a P/E/G ratio of 1.24 and a beta of 1.67. Lennar Co. has a 12 month low of $117.90 and a 12 month high of $193.80. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last announced its earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing the consensus estimate of $4.15 by ($0.12). Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same quarter in the previous year, the business earned $4.82 earnings per share. The business’s quarterly revenue was down 9.3% compared to the same quarter last year. Sell-side analysts predict that Lennar Co. will post 12.48 EPS for the current year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.67%. The ex-dividend date was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) is currently 13.95%.

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.