Tredje AP fonden Sells 13,871 Shares of Lennar Co. (NYSE:LEN)

Tredje AP fonden lowered its stake in Lennar Co. (NYSE:LEN) by 50.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,871 shares of the construction company’s stock after selling 13,871 shares during the quarter. Tredje AP fonden’s holdings in Lennar were worth $1,892,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crews Bank & Trust bought a new stake in Lennar during the 4th quarter valued at $25,000. Armstrong Advisory Group Inc. increased its stake in Lennar by 69.4% during the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after purchasing an additional 75 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Lennar during the 4th quarter valued at $28,000. Legacy Investment Solutions LLC bought a new stake in Lennar during the 3rd quarter valued at $39,000. Finally, Quarry LP increased its stake in Lennar by 136.7% during the 3rd quarter. Quarry LP now owns 232 shares of the construction company’s stock valued at $43,000 after purchasing an additional 134 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on LEN. Bank of America decreased their price target on shares of Lennar from $150.00 to $140.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Wedbush reaffirmed a “neutral” rating and set a $164.00 price objective on shares of Lennar in a report on Thursday, December 19th. Keefe, Bruyette & Woods downgraded shares of Lennar from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $152.00 to $141.00 in a report on Tuesday. BTIG Research downgraded shares of Lennar from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. Fifteen equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $165.93.

Lennar Trading Up 1.5 %

Shares of Lennar stock opened at $118.06 on Friday. Lennar Co. has a 52-week low of $115.61 and a 52-week high of $187.61. The stock’s 50-day simple moving average is $127.53 and its 200 day simple moving average is $155.67. The stock has a market capitalization of $31.35 billion, a P/E ratio of 8.23, a P/E/G ratio of 1.24 and a beta of 1.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71.

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

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Wednesday, January 29th. Lennar’s dividend payout ratio is presently 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.