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

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

Other large investors also recently bought and sold shares of the company. D1 Capital Partners L.P. lifted its stake in shares of Lennar by 428.9% during the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock worth $362,685,000 after buying an additional 1,962,447 shares during the period. Pacer Advisors Inc. lifted its position in Lennar by 15.1% during the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock worth $452,886,000 after acquiring an additional 396,951 shares during the period. KBC Group NV increased its holdings in shares of Lennar by 258.3% in the third quarter. KBC Group NV now owns 494,848 shares of the construction company’s stock valued at $92,774,000 after purchasing an additional 356,731 shares during the period. Marshall Wace LLP lifted its holdings in shares of Lennar by 20.9% during the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock worth $302,084,000 after purchasing an additional 348,553 shares during the period. Finally, Ariel Investments LLC purchased a new stake in Lennar in the second quarter valued at approximately $23,518,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

LEN has been the subject of several research reports. Zelman & Associates upgraded shares of Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. upped their price target on shares of Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. StockNews.com lowered Lennar from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Wells Fargo & Company lowered their target price on Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Finally, Bank of America lifted their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $180.56.

Lennar Stock Up 5.6 %

LEN opened at $178.70 on Tuesday. The company has a market cap of $48.47 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.58 and a beta of 1.62. Lennar Co. has a twelve month low of $125.17 and a twelve month high of $193.80. The company has a 50-day moving average price of $177.90 and a 200 day moving average price of $169.46. 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 (NYSE:LEN) last released its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter last year, the business posted $3.91 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. Sell-side analysts expect that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is 13.25%.

Insider Transactions at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’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 value of $3,064,775.00. Following the completion of the sale, the director now directly owns 23,689 shares in the company, valued at $4,148,654.57. This represents a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 9.36% of the company’s stock.

Lennar 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.