Fjarde AP Fonden Fourth Swedish National Pension Fund Has $6.06 Million Stake in Lennar Co. (NYSE:LEN)

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in shares of Lennar Co. (NYSE:LEN) by 14.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 44,401 shares of the construction company’s stock after selling 7,700 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Lennar were worth $6,055,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. acquired a new stake in shares of Lennar during the 3rd quarter valued at $30,000. Crews Bank & Trust acquired a new stake in Lennar during the fourth quarter valued at $25,000. Armstrong Advisory Group Inc. grew its stake in Lennar by 69.4% in the fourth 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. Legacy Investment Solutions LLC acquired a new position in Lennar in the 3rd quarter worth about $39,000. Finally, Quarry LP lifted its holdings in shares of 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 buying an additional 134 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LEN shares. UBS Group dropped their price objective on Lennar from $205.00 to $192.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Bank of America cut their price target on shares of Lennar from $150.00 to $140.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Citigroup decreased their price objective on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Barclays cut their target price on Lennar from $135.00 to $121.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Finally, Wolfe Research downgraded Lennar from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $163.88.

Lennar Stock Down 0.7 %

LEN opened at $119.79 on Tuesday. Lennar Co. has a 1-year low of $117.90 and a 1-year high of $193.80. The business has a 50 day moving average of $132.46 and a 200-day moving average of $160.68. The stock has a market capitalization of $31.81 billion, a price-to-earnings ratio of 8.35, a P/E/G ratio of 1.24 and a beta of 1.67. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08.

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

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.67%. Lennar’s dividend payout ratio is currently 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.