KLP Kapitalforvaltning AS Acquires Shares of 141,994 Lennar Co. (NYSE:LEN)

KLP Kapitalforvaltning AS bought a new stake in Lennar Co. (NYSE:LEN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 141,994 shares of the construction company's stock, valued at approximately $19,364,000. KLP Kapitalforvaltning AS owned approximately 0.05% of Lennar as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Centaurus Financial Inc. boosted its holdings in Lennar by 2.5% during the third quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company's stock worth $551,000 after purchasing an additional 71 shares during the last quarter. Armstrong Advisory Group Inc. boosted its stake in shares of Lennar by 69.4% during the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company's stock worth $25,000 after buying an additional 75 shares during the last quarter. Wolff Wiese Magana LLC increased its position in shares of Lennar by 51.0% in the fourth quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company's stock valued at $32,000 after acquiring an additional 79 shares during the last quarter. Howard Capital Management Inc. raised its holdings in Lennar by 0.3% during the fourth quarter. Howard Capital Management Inc. now owns 28,836 shares of the construction company's stock worth $3,932,000 after acquiring an additional 81 shares in the last quarter. Finally, Premier Path Wealth Partners LLC boosted its position in Lennar by 2.1% during the fourth quarter. Premier Path Wealth Partners LLC now owns 4,284 shares of the construction company's stock valued at $584,000 after purchasing an additional 87 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

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Analyst Ratings Changes

A number of brokerages have recently issued reports on LEN. Wells Fargo & Company dropped their price objective on Lennar from $130.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 18th. Bank of America decreased their price objective on shares of Lennar from $140.00 to $130.00 and set a "neutral" rating for the company in a research report on Tuesday, March 18th. The Goldman Sachs Group dropped their target price on shares of Lennar from $141.00 to $120.00 and set a "neutral" rating on the stock in a report on Tuesday. JPMorgan Chase & Co. reduced their price target on Lennar from $192.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, December 13th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $158.00 price objective on shares of Lennar in a research report on Monday, March 17th. Fifteen analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lennar presently has an average rating of "Hold" and an average target price of $151.07.

Lennar Stock Performance

NYSE LEN traded down $4.15 during trading on Friday, reaching $113.83. The company's stock had a trading volume of 3,553,781 shares, compared to its average volume of 2,479,697. Lennar Co. has a 12 month low of $111.26 and a 12 month high of $187.61. The firm has a 50 day moving average price of $124.05 and a 200 day moving average price of $151.33. The firm has a market capitalization of $30.22 billion, a price-to-earnings ratio of 7.94, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08.

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

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Wednesday, January 29th. Lennar's dividend payout ratio (DPR) is presently 14.57%.

Lennar Company 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.