Swedbank AB Has $8.85 Million Stock Holdings in Lennar Corporation $LEN

Swedbank AB trimmed its position in Lennar Corporation (NYSE:LEN) by 11.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 86,091 shares of the construction company’s stock after selling 11,470 shares during the quarter. Swedbank AB’s holdings in Lennar were worth $8,850,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Lennar in the 4th quarter valued at about $47,000. Legato Capital Management LLC bought a new stake in shares of Lennar in the 4th quarter valued at about $1,850,000. Evoke Wealth LLC raised its holdings in shares of Lennar by 18.6% in the 4th quarter. Evoke Wealth LLC now owns 2,368 shares of the construction company’s stock valued at $243,000 after purchasing an additional 371 shares during the period. KDT Advisors LLC raised its holdings in shares of Lennar by 3.6% in the 4th quarter. KDT Advisors LLC now owns 4,823 shares of the construction company’s stock valued at $496,000 after purchasing an additional 169 shares during the period. Finally, Sierra Summit Advisors LLC raised its holdings in shares of Lennar by 2.0% in the 4th quarter. Sierra Summit Advisors LLC now owns 14,304 shares of the construction company’s stock valued at $1,470,000 after purchasing an additional 280 shares during the period. 81.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on LEN shares. Barclays dropped their target price on shares of Lennar from $85.00 to $80.00 and set an “underweight” rating on the stock in a report on Wednesday, April 8th. The Goldman Sachs Group dropped their target price on shares of Lennar from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, April 10th. Citigroup dropped their target price on shares of Lennar from $113.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, March 17th. Argus lowered their price target on shares of Lennar from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Finally, Wells Fargo & Company lowered their price target on shares of Lennar from $100.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and eight have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $99.87.

Lennar Stock Up 0.5%

Lennar stock opened at $89.28 on Wednesday. The stock has a market cap of $22.05 billion, a P/E ratio of 12.83, a P/E/G ratio of 1.96 and a beta of 1.41. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18. Lennar Corporation has a twelve month low of $81.18 and a twelve month high of $144.24. The company’s 50-day moving average price is $89.48 and its two-hundred day moving average price is $105.92.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.07). The company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.90 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. The firm’s revenue was down 13.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.14 earnings per share. As a group, analysts expect that Lennar Corporation will post 5.87 EPS for the current year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, April 22nd. Lennar’s dividend payout ratio is presently 28.74%.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.