BI Asset Management Fondsmaeglerselskab A S Sells 38,875 Shares of Lennar Co. (NYSE:LEN)

BI Asset Management Fondsmaeglerselskab A S lessened its stake in shares of Lennar Co. (NYSE:LEN) by 73.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,345 shares of the construction company’s stock after selling 38,875 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Lennar were worth $1,956,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. grew its position in shares of Lennar by 22.0% during the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock valued at $446,110,000 after purchasing an additional 589,553 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Lennar by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company’s stock worth $441,769,000 after purchasing an additional 515,378 shares in the last quarter. Nordea Investment Management AB lifted its position in Lennar by 21.4% during the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after purchasing an additional 397,492 shares during the last quarter. Cannell & Spears LLC grew its stake in Lennar by 1.0% in the 4th quarter. Cannell & Spears LLC now owns 514,970 shares of the construction company’s stock worth $70,226,000 after buying an additional 5,311 shares in the last quarter. Finally, Sound Shore Management Inc. CT raised its position in shares of Lennar by 12.2% during the 4th quarter. Sound Shore Management Inc. CT now owns 396,289 shares of the construction company’s stock valued at $54,042,000 after buying an additional 42,949 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on LEN. Wells Fargo & Company cut their target price on shares of Lennar from $120.00 to $110.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Wolfe Research cut Lennar from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Evercore ISI reissued an “in-line” rating and set a $131.00 price objective (down from $159.00) on shares of Lennar in a report on Monday, March 24th. UBS Group cut their target price on Lennar from $183.00 to $164.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Finally, Citigroup decreased their price target on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Fifteen equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Lennar presently has an average rating of “Hold” and a consensus price target of $150.07.

Lennar Stock Down 0.9 %

LEN stock opened at $103.81 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. Lennar Co. has a fifty-two week low of $98.42 and a fifty-two week high of $187.61. The company has a market capitalization of $27.38 billion, a price-to-earnings ratio of 7.24, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The business’s 50 day moving average price is $115.67 and its two-hundred day moving average price is $141.28.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.44. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.44 billion. During the same period last year, the business earned $2.57 EPS. Lennar’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, analysts forecast that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lennar’s dividend payout ratio is presently 14.57%.

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.