Livforsakringsbolaget Skandia Omsesidigt Grows Holdings in Lennar Co. (NYSE:LEN)

Livforsakringsbolaget Skandia Omsesidigt grew its stake in Lennar Co. (NYSE:LEN - Free Report) by 32.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,382 shares of the construction company's stock after purchasing an additional 4,264 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Lennar were worth $3,257,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Pacer Advisors Inc. boosted its position in Lennar by 15.1% during the second quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company's stock worth $452,886,000 after acquiring an additional 396,951 shares during the last quarter. D1 Capital Partners L.P. lifted its stake in Lennar by 428.9% in the 2nd quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company's stock worth $362,685,000 after purchasing an additional 1,962,447 shares in the last quarter. Marshall Wace LLP grew its position in shares of Lennar by 20.9% in the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company's stock valued at $302,084,000 after purchasing an additional 348,553 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Lennar by 3.6% in the first quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company's stock valued at $303,585,000 after purchasing an additional 60,713 shares during the last quarter. Finally, Eminence Capital LP lifted its position in Lennar by 14.6% during the second quarter. Eminence Capital LP now owns 655,368 shares of the construction company's stock worth $98,220,000 after buying an additional 83,316 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Citigroup raised their target price on Lennar from $164.00 to $196.00 and gave the stock a "neutral" rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. raised their price objective on shares of Lennar from $154.00 to $173.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. StockNews.com cut shares of Lennar from a "buy" rating to a "hold" rating in a research note on Saturday, September 28th. BTIG Research reduced their price target on shares of Lennar from $177.00 to $175.00 and set a "buy" rating on the stock in a research report on Thursday, June 20th. Finally, Zelman & Associates upgraded Lennar from a "neutral" rating to an "outperform" rating in a research report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $181.11.

Lennar Stock Down 0.0 %

Shares of NYSE:LEN traded down $0.01 on Friday, hitting $178.19. 1,766,161 shares of the company's stock were exchanged, compared to its average volume of 2,065,223. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. Lennar Co. has a 1-year low of $102.90 and a 1-year high of $193.80. The company has a market capitalization of $48.93 billion, a PE ratio of 11.80, a P/E/G ratio of 1.68 and a beta of 1.61. The firm's 50-day moving average is $179.93 and its 200 day moving average is $166.19.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping analysts' consensus estimates of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company had revenue of $9.42 billion for the quarter, compared to analysts' expectations of $9.14 billion. During the same quarter last year, the company earned $3.91 earnings per share. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. Sell-side analysts predict that Lennar Co. will post 14.28 EPS for the current year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Wednesday, October 9th. Lennar's payout ratio is 13.25%.

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.