Fjarde AP Fonden Fourth Swedish National Pension Fund Trims Holdings in Lennar Corporation $LEN

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its holdings in shares of Lennar Corporation (NYSE:LEN) by 38.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,682 shares of the construction company’s stock after selling 23,719 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Lennar were worth $3,874,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KERR FINANCIAL PLANNING Corp bought a new position in Lennar during the 3rd quarter valued at approximately $25,000. Redmont Wealth Advisors LLC bought a new position in Lennar during the 3rd quarter valued at approximately $26,000. High Point Wealth Management LLC bought a new position in Lennar during the 4th quarter valued at approximately $31,000. Washington Trust Advisors Inc. raised its position in Lennar by 102.7% during the 3rd quarter. Washington Trust Advisors Inc. now owns 371 shares of the construction company’s stock valued at $47,000 after purchasing an additional 188 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Lennar during the 4th quarter valued at approximately $47,000. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Up 0.5%

LEN stock opened at $90.95 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 4.77. The company has a market capitalization of $22.46 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 2.00 and a beta of 1.39. The business’s 50 day moving average price is $88.97 and its two-hundred day moving average price is $104.00. Lennar Corporation has a fifty-two week low of $81.18 and a fifty-two week high of $144.24.

Lennar (NYSE:LEN) last posted 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 analysts’ expectations of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.The business’s quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.14 EPS. As a group, analysts forecast that Lennar Corporation will post 5.87 earnings per share for the current fiscal 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 paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.2%. The ex-dividend date was Wednesday, April 22nd. Lennar’s dividend payout ratio (DPR) is currently 28.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LEN shares. UBS Group lowered their price target on Lennar from $122.00 to $107.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Evercore lowered their price target on Lennar from $89.00 to $82.00 and set an “underperform” rating for the company in a research report on Monday, April 13th. BTIG Research set a $73.00 price target on Lennar in a research report on Monday. Citigroup lowered their price target on Lennar from $113.00 to $104.00 and set a “neutral” rating for the company in a research report on Tuesday, March 17th. Finally, Keefe, Bruyette & Woods reduced their target price on Lennar from $105.00 to $97.00 and set a “market perform” rating on the stock in a report on Wednesday, April 1st. One investment 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, Lennar has an average rating of “Reduce” and a consensus target price of $98.73.

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.