PFA Pension Forsikringsaktieselskab Invests $11.96 Million in Lennar Corporation $LEN

PFA Pension Forsikringsaktieselskab bought a new position in shares of Lennar Corporation (NYSE:LEN) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 115,109 shares of the construction company’s stock, valued at approximately $11,959,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Lazard Asset Management LLC raised its position in shares of Lennar by 7.1% during the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock worth $141,000 after purchasing an additional 85 shares during the period. Zions Bancorporation National Association UT raised its position in shares of Lennar by 8.3% during the third quarter. Zions Bancorporation National Association UT now owns 1,127 shares of the construction company’s stock worth $142,000 after purchasing an additional 86 shares during the period. RFG Advisory LLC raised its position in shares of Lennar by 2.1% during the third quarter. RFG Advisory LLC now owns 4,255 shares of the construction company’s stock worth $536,000 after purchasing an additional 87 shares during the period. UMB Bank n.a. grew its holdings in shares of Lennar by 6.2% during the third quarter. UMB Bank n.a. now owns 1,595 shares of the construction company’s stock valued at $201,000 after buying an additional 93 shares in the last quarter. Finally, ORG Wealth Partners LLC grew its holdings in shares of Lennar by 5.2% during the third quarter. ORG Wealth Partners LLC now owns 2,072 shares of the construction company’s stock valued at $261,000 after buying an additional 102 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LEN has been the topic of a number of research analyst reports. Argus lowered their price target on Lennar from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Seaport Research Partners reiterated a “sell” rating and set a $74.00 price target (down from $140.00) on shares of Lennar in a report on Tuesday, April 7th. The Goldman Sachs Group lowered their price target on Lennar from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, April 10th. Citigroup lowered their price target on Lennar from $113.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, March 17th. Finally, UBS Group lowered their price target on Lennar from $122.00 to $107.00 and set a “neutral” rating on the stock in a report on Monday, March 16th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $99.87.

Lennar Stock Performance

Shares of NYSE LEN opened at $88.55 on Monday. The business’s 50-day moving average price is $95.71 and its two-hundred day moving average price is $110.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97. Lennar Corporation has a one year low of $83.03 and a one year high of $144.24. The company has a market capitalization of $21.87 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 1.94 and a beta of 1.41.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.07). The company had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.The business’s revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.14 EPS. Analysts anticipate that Lennar Corporation will post 5.91 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, April 22nd. Lennar’s dividend payout ratio is 28.74%.

Lennar Profile

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.