SEB Asset Management AB Takes $3.68 Million Position in Lennar Corporation $LEN

SEB Asset Management AB acquired a new position in Lennar Corporation (NYSE:LEN) in the first quarter, Holdings Channel reports. The fund acquired 42,327 shares of the construction company’s stock, valued at approximately $3,676,000.

A number of other hedge funds also recently bought and sold shares of LEN. High Point Wealth Management LLC bought a new stake in Lennar during the 4th quarter valued at $31,000. DV Equities LLC purchased a new stake in shares of Lennar during the 4th quarter worth $31,000. Global Assets Advisory LLC bought a new stake in Lennar during the first quarter valued at about $39,000. Quarry LP bought a new stake in Lennar during the fourth quarter valued at about $41,000. Finally, IFC & Insurance Marketing Inc. purchased a new position in Lennar in the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on LEN shares. Wells Fargo & Company decreased their price target on shares of Lennar from $90.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, June 15th. Argus set a $108.00 price objective on shares of Lennar in a research report on Thursday, July 9th. JPMorgan Chase & Co. decreased their target price on shares of Lennar from $80.00 to $77.00 and set an “underweight” rating for the company in a research report on Tuesday, June 16th. Seaport Research Partners restated a “sell” rating and issued a $74.00 target price (down from $140.00) on shares of Lennar in a research note on Tuesday, April 7th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lennar in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and ten have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Lennar currently has a consensus rating of “Reduce” and an average target price of $92.80.

Lennar Price Performance

Shares of LEN stock opened at $82.00 on Thursday. Lennar Corporation has a fifty-two week low of $81.18 and a fifty-two week high of $144.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91. The firm has a market capitalization of $19.75 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 2.72 and a beta of 1.38. The stock’s 50-day simple moving average is $88.01 and its 200-day simple moving average is $97.38.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.24 by $0.07. The firm had revenue of $7.94 billion during the quarter, compared to analyst estimates of $8.08 billion. Lennar had a net margin of 4.93% and a return on equity of 7.08%. Lennar’s revenue was down 5.2% on a year-over-year basis. During the same period last year, the firm posted $1.81 EPS. As a group, equities analysts forecast that Lennar Corporation will post 5.52 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. Lennar’s dividend payout ratio (DPR) is currently 31.30%.

Lennar Company 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.