Livforsakringsbolaget Skandia Omsesidigt Purchases 4,264 Shares of Lennar Co. (NYSE:LEN)

Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Lennar Co. (NYSE:LEN) by 32.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,382 shares of the construction company’s stock after acquiring an additional 4,264 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Lennar were worth $3,257,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Rise Advisors LLC lifted its position in Lennar by 484.0% in the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after purchasing an additional 121 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in shares of Lennar in the first quarter worth about $30,000. New Covenant Trust Company N.A. purchased a new position in Lennar during the 1st quarter valued at about $32,000. Redmont Wealth Advisors LLC bought a new position in Lennar during the 1st quarter valued at approximately $35,000. Finally, Fortitude Family Office LLC lifted its holdings in Lennar by 223.6% in the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock worth $35,000 after buying an additional 161 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

Shares of LEN opened at $178.15 on Friday. Lennar Co. has a twelve month low of $102.90 and a twelve month high of $193.80. The company has a market capitalization of $48.92 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 1.68 and a beta of 1.61. The firm has a 50 day moving average of $179.93 and a 200 day moving average of $166.19. 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 posted its earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $9.14 billion. During the same quarter last year, the company earned $3.91 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Lennar Co. will post 14.28 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.12%. Lennar’s dividend payout ratio is presently 13.25%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LEN. BTIG Research dropped their price target on Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, June 20th. JMP Securities raised their target price on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Wells Fargo & Company lowered shares of Lennar from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $205.00 to $190.00 in a report on Monday, October 7th. Finally, Raymond James lowered Lennar from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $181.11.

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.