BI Asset Management Fondsmaeglerselskab A S Reduces Holdings in Lennar Co. (NYSE:LEN)

BI Asset Management Fondsmaeglerselskab A S lowered its stake in shares of Lennar Co. (NYSE:LEN - Free Report) by 73.0% during the 4th quarter, according to the company in its most recent Form 13F 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 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Armstrong Advisory Group Inc. increased its holdings in shares of Lennar by 69.4% during the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company's stock valued at $25,000 after acquiring an additional 75 shares in the last quarter. Wolff Wiese Magana LLC increased its holdings in shares of Lennar by 51.0% during 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 in the last quarter. Howard Capital Management Inc. increased its holdings in shares of Lennar by 0.3% during the fourth quarter. Howard Capital Management Inc. now owns 28,836 shares of the construction company's stock valued at $3,932,000 after acquiring an additional 81 shares in the last quarter. Premier Path Wealth Partners LLC increased its holdings in Lennar by 2.1% in the 4th quarter. Premier Path Wealth Partners LLC now owns 4,284 shares of the construction company's stock worth $584,000 after buying an additional 87 shares during the period. Finally, Greenleaf Trust increased its holdings in Lennar by 1.9% in the 4th quarter. Greenleaf Trust now owns 5,220 shares of the construction company's stock worth $712,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Price Performance

NYSE LEN traded down $1.50 during mid-day trading on Friday, hitting $107.72. The stock had a trading volume of 2,130,886 shares, compared to its average volume of 2,567,606. The firm's 50 day moving average is $114.45 and its 200 day moving average is $139.26. Lennar Co. has a twelve month low of $98.42 and a twelve month high of $187.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The stock has a market capitalization of $28.42 billion, a price-to-earnings ratio of 7.51, a PEG ratio of 1.24 and a beta of 1.51.

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

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Wednesday, April 23rd. Lennar's dividend payout ratio is currently 14.57%.

Analyst Ratings Changes

Several brokerages recently weighed in on LEN. Evercore ISI reiterated an "in-line" rating and issued a $131.00 price target (down previously from $159.00) on shares of Lennar in a report on Monday, March 24th. Bank of America lowered their price objective on Lennar from $140.00 to $130.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 18th. Wolfe Research lowered Lennar from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods lowered their price objective on Lennar from $141.00 to $128.00 and set a "market perform" rating on the stock in a research report on Tuesday, March 25th. Finally, Royal Bank of Canada lowered their price objective on Lennar from $125.00 to $122.00 and set a "sector perform" rating on the stock in a research report on Monday, March 24th. Fifteen research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $150.07.

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.