60,242 Shares in Lennar Corporation $LEN Bought by AMF Tjanstepension AB

AMF Tjanstepension AB bought a new position in Lennar Corporation (NYSE:LEN) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 60,242 shares of the construction company’s stock, valued at approximately $6,663,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LEN. Kingstone Capital Partners Texas LLC bought a new position in Lennar in the second quarter worth $424,950,000. The Manufacturers Life Insurance Company lifted its position in Lennar by 45.4% in the first quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company’s stock worth $1,020,866,000 after purchasing an additional 2,777,567 shares during the period. Eminence Capital LP lifted its position in Lennar by 130.8% in the first quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company’s stock worth $181,523,000 after purchasing an additional 896,264 shares during the period. Brave Warrior Advisors LLC lifted its position in Lennar by 23.4% in the first quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company’s stock worth $251,323,000 after purchasing an additional 415,218 shares during the period. Finally, ANTIPODES PARTNERS Ltd bought a new position in Lennar in the first quarter worth $41,788,000. 81.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LEN has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Lennar in a research note on Saturday, September 27th. JPMorgan Chase & Co. dropped their price objective on Lennar from $97.00 to $92.00 and set a “neutral” rating for the company in a research note on Monday, September 22nd. Barclays dropped their price objective on Lennar from $110.00 to $95.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 18th. Wedbush reiterated a “neutral” rating and set a $130.00 price objective on shares of Lennar in a research note on Monday, September 22nd. Finally, UBS Group increased their price objective on Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $123.75.

Lennar Stock Performance

Shares of NYSE:LEN opened at $130.13 on Friday. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $189.65. The firm has a market cap of $33.70 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 5.74 and a beta of 1.37. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49. The business has a fifty day moving average of $128.71 and a 200-day moving average of $116.38.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The company had revenue of $8.81 billion during the quarter, compared to analyst estimates of $9.01 billion. During the same period last year, the company posted $3.90 earnings per share. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, equities research analysts predict that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, October 10th will be paid a $0.50 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.5%. Lennar’s dividend payout ratio (DPR) is 19.76%.

Lennar Profile

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.