Swedbank AB Raises Position in Lennar Co. (NYSE:LEN)

Swedbank AB lifted its stake in shares of Lennar Co. (NYSE:LEN) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 164,709 shares of the construction company’s stock after buying an additional 8,405 shares during the quarter. Swedbank AB’s holdings in Lennar were worth $30,880,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LEN. Rise Advisors LLC raised its stake in shares of Lennar by 484.0% during the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after purchasing an additional 121 shares during the period. J.Safra Asset Management Corp acquired a new stake in Lennar during the 1st quarter valued at $30,000. New Covenant Trust Company N.A. purchased a new stake in Lennar during the 1st quarter worth $32,000. Redmont Wealth Advisors LLC acquired a new position in Lennar in the 1st quarter worth $35,000. Finally, Fortitude Family Office LLC boosted its position in Lennar by 223.6% in the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after buying an additional 161 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Stock Performance

LEN opened at $188.41 on Thursday. The stock has a 50-day moving average of $180.85 and a 200-day moving average of $166.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. Lennar Co. has a 52-week low of $102.90 and a 52-week high of $193.80. The company has a market cap of $51.74 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 1.68 and a beta of 1.61.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping the consensus estimate of $3.62 by $0.28. The firm had revenue of $9.42 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $3.91 EPS. As a group, equities research analysts forecast that Lennar Co. will post 14.28 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business 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 is Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is currently 13.60%.

Analyst Ratings Changes

LEN has been the topic of a number of analyst reports. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. JMP Securities lifted their price objective on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 25th. Royal Bank of Canada increased their target price on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research note on Monday, September 23rd. Wedbush reaffirmed a “neutral” rating and issued a $144.00 price target on shares of Lennar in a report on Friday, September 20th. Finally, Evercore ISI decreased their price objective on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.