Swedbank AB Trims Stock Position in Lennar Corporation $LEN

Swedbank AB lessened its stake in shares of Lennar Corporation (NYSE:LEN) by 11.8% in the 4th quarter, Holdings Channel reports. The institutional investor 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.

Other institutional investors have also modified their holdings of the company. Guerra Advisors Inc purchased a new stake in shares of Lennar during the 3rd quarter worth approximately $25,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Lennar during the 3rd quarter worth approximately $25,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Lennar during the 3rd quarter worth approximately $26,000. High Point Wealth Management LLC purchased a new stake in shares of Lennar during the 4th quarter worth approximately $31,000. Finally, Washington Trust Advisors Inc. lifted its position in shares of Lennar by 102.7% during the 3rd quarter. Washington Trust Advisors Inc. now owns 371 shares of the construction company’s stock worth $47,000 after buying an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LEN shares. The Goldman Sachs Group reduced their price objective on shares of Lennar from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, April 10th. Argus reduced their price objective on shares of Lennar from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Weiss Ratings downgraded shares of Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 16th. Barclays reduced their price target on shares of Lennar from $85.00 to $80.00 and set an “underweight” rating for the company in a research report on Wednesday, April 8th. Finally, Wells Fargo & Company reduced their price target on shares of Lennar from $100.00 to $90.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and eight have given a Sell rating to the company’s stock. According to data from MarketBeat, Lennar currently has an average rating of “Reduce” and an average target price of $99.87.

Lennar Stock Up 0.7%

Shares of Lennar stock opened at $88.32 on Friday. The company has a market cap of $21.81 billion, a P/E ratio of 12.69, a PEG ratio of 1.95 and a beta of 1.41. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 4.77. Lennar Corporation has a one year low of $83.03 and a one year high of $144.24. The firm has a fifty day moving average of $94.02 and a two-hundred day moving average of $109.47.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, March 12th. The construction company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). The firm had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.The firm’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.14 EPS. On average, analysts forecast that Lennar Corporation will post 5.87 earnings per share for the current year.

Lennar Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Wednesday, April 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. Lennar’s dividend payout ratio is presently 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.