Nordea Investment Management AB Acquires 397,492 Shares of Lennar Co. (NYSE:LEN)

Nordea Investment Management AB raised its stake in shares of Lennar Co. (NYSE:LEN) by 21.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,250,626 shares of the construction company’s stock after acquiring an additional 397,492 shares during the period. Nordea Investment Management AB owned approximately 0.83% of Lennar worth $308,696,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Oakworth Capital Inc. purchased a new stake in Lennar in the third quarter worth approximately $27,000. Wolff Wiese Magana LLC lifted its holdings in shares of Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after buying an additional 140 shares during the period. GHP Investment Advisors Inc. bought a new stake in shares of Lennar in the third quarter worth $30,000. Asset Dedication LLC lifted its holdings in Lennar by 4,225.0% in the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after acquiring an additional 169 shares during the period. Finally, DT Investment Partners LLC boosted its position in Lennar by 523.3% in the third quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock worth $35,000 after purchasing an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JMP Securities increased their price objective on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 25th. Bank Of America (Bofa) increased their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. BTIG Research downgraded shares of Lennar from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company cut their price target on Lennar from $180.00 to $165.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $175.19.

Lennar Stock Up 1.1 %

Shares of LEN stock opened at $135.88 on Monday. The stock has a market cap of $36.86 billion, a P/E ratio of 9.00, a PEG ratio of 1.28 and a beta of 1.66. The company’s fifty day simple moving average is $160.25 and its two-hundred day simple moving average is $168.40. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. Lennar Co. has a 52 week low of $133.72 and a 52 week high of $193.80.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $10.06 billion. During the same period in the previous year, the company posted $4.82 earnings per share. Lennar’s quarterly revenue was down 9.3% on a year-over-year basis. Analysts predict that Lennar Co. will post 14.11 EPS for the current fiscal year.

Insider Activity

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the transaction, the director now owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 9.36% of the company’s stock.

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, 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.