Lennar Co. (NYSE:LEN) Shares Bought by APG Asset Management N.V.

APG Asset Management N.V. boosted its holdings in shares of Lennar Co. (NYSE:LEN) by 183.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 29,345 shares of the construction company’s stock after buying an additional 19,000 shares during the period. APG Asset Management N.V.’s holdings in Lennar were worth $4,104,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Lakewood Asset Management LLC lifted its holdings in Lennar by 0.8% during the 2nd quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock worth $1,407,000 after buying an additional 70 shares in the last quarter. NorthCrest Asset Manangement LLC increased its position in shares of Lennar by 1.5% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock valued at $730,000 after purchasing an additional 73 shares during the last quarter. Aaron Wealth Advisors LLC increased its position in shares of Lennar by 5.7% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock valued at $207,000 after purchasing an additional 74 shares during the last quarter. Quotient Wealth Partners LLC increased its position in shares of Lennar by 5.0% in the 2nd quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock valued at $231,000 after purchasing an additional 74 shares during the last quarter. Finally, BBR Partners LLC increased its position in shares of Lennar by 3.4% in the 2nd quarter. BBR Partners LLC now owns 2,427 shares of the construction company’s stock valued at $364,000 after purchasing an additional 79 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on LEN shares. Wells Fargo & Company increased their price objective on shares of Lennar from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. BTIG Research dropped their target price on shares of Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, June 20th. Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Barclays increased their target price on shares of Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, Bank of America increased their target price on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Lennar has a consensus rating of “Hold” and a consensus price target of $181.94.

Lennar Stock Performance

Shares of LEN opened at $187.03 on Monday. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The stock has a market cap of $51.36 billion, a P/E ratio of 12.71, a PEG ratio of 1.71 and a beta of 1.61. The company has a 50-day moving average of $178.25 and a two-hundred day moving average of $164.70. Lennar Co. has a 12-month low of $102.90 and a 12-month high of $193.80.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.91 earnings per share. As a group, research analysts predict that Lennar Co. will post 14.13 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.07%. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

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.