Forsta AP Fonden Has $4.36 Million Stake in Lennar Corporation $LEN

Forsta AP Fonden cut its stake in shares of Lennar Corporation (NYSE:LEN) by 3.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,400 shares of the construction company’s stock after selling 1,400 shares during the period. Forsta AP Fonden’s holdings in Lennar were worth $4,358,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC purchased a new position in shares of Lennar during the 2nd quarter valued at $33,000. Disciplina Capital Management LLC boosted its position in Lennar by 179.8% during the first quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock valued at $38,000 after purchasing an additional 214 shares during the last quarter. Mid American Wealth Advisory Group Inc. purchased a new position in Lennar in the second quarter valued at about $43,000. SBI Securities Co. Ltd. increased its position in Lennar by 190.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 573 shares of the construction company’s stock worth $63,000 after purchasing an additional 376 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Lennar during the 1st quarter worth about $66,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

LEN has been the topic of a number of recent research reports. Zacks Research downgraded shares of Lennar from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. reduced their target price on Lennar from $97.00 to $92.00 and set a “neutral” rating for the company in a report on Monday, September 22nd. Citigroup reiterated an “outperform” rating on shares of Lennar in a report on Monday, September 22nd. The Goldman Sachs Group upped their price objective on shares of Lennar from $122.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Finally, JMP Securities boosted their target price on shares of Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $121.75.

Lennar Stock Performance

NYSE LEN opened at $120.93 on Friday. The company’s fifty day moving average is $126.36 and its two-hundred day moving average is $119.19. Lennar Corporation has a 52-week low of $98.42 and a 52-week high of $180.12. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. The firm has a market capitalization of $30.84 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 5.78 and a beta of 1.33.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 18th. The construction company reported $2.00 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.14). The firm had revenue of $8.81 billion for the quarter, compared to analyst estimates of $9.01 billion. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period last year, the business earned $3.90 earnings per share. Equities research analysts forecast that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Friday, October 10th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, October 10th. Lennar’s dividend payout ratio is presently 19.76%.

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.