BI Asset Management Fondsmaeglerselskab A S Has $781,000 Stock Holdings in Lennar Corporation $LEN

Key Points

• BI Asset Management Fondsmaeglerselskab A S has reduced its holdings in Lennar Corporation by 52.6%, owning 6,802 shares valued at approximately $781,000 after selling 7,543 shares in Q1.
• Lennar reported a Q2 EPS of $1.90, missing the estimated $1.94, with revenue of $8.38 billion, which was above analysts' expectations of $8.21 billion.
• The company declared a quarterly dividend of $0.50 per share, resulting in an annualized dividend yield of 1.5%, with a dividend payout ratio of 16.54%.

BI Asset Management Fondsmaeglerselskab A S lessened its stake in Lennar Corporation (NYSE:LEN - Free Report) by 52.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,802 shares of the construction company's stock after selling 7,543 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Lennar were worth $781,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC purchased a new stake in shares of Lennar during the fourth quarter worth about $218,533,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Lennar during the first quarter worth about $41,788,000. AustralianSuper Pty Ltd purchased a new stake in shares of Lennar during the first quarter worth about $37,055,000. Man Group plc grew its holdings in shares of Lennar by 112.5% during the fourth quarter. Man Group plc now owns 506,722 shares of the construction company's stock worth $69,102,000 after buying an additional 268,209 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Lennar by 3.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company's stock worth $834,115,000 after buying an additional 213,003 shares in the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LEN. Bank of America lowered their target price on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, June 18th. Barclays reduced their price target on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 18th. Royal Bank Of Canada reduced their price target on shares of Lennar from $122.00 to $98.00 and set a "sector perform" rating on the stock in a research report on Wednesday, June 18th. UBS Group reduced their price target on shares of Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a research report on Wednesday, June 18th. Finally, Wedbush reaffirmed a "neutral" rating and set a $130.00 price target on shares of Lennar in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $128.85.

Lennar Stock Down 0.6%

LEN traded down $0.87 during trading on Monday, hitting $134.88. The company had a trading volume of 2,517,694 shares, compared to its average volume of 3,064,843. The company has a market cap of $34.93 billion, a PE ratio of 11.16, a P/E/G ratio of 5.76 and a beta of 1.29. The business has a 50-day moving average of $116.58 and a 200-day moving average of $114.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $193.80.

Lennar (NYSE:LEN - Get Free Report) last released its earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.04). Lennar had a net margin of 9.20% and a return on equity of 12.73%. The business had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. During the same quarter in the previous year, the firm earned $3.45 EPS. The firm's revenue for the quarter was down 4.4% on a year-over-year basis. As a group, analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Thursday, July 3rd. Lennar's dividend payout ratio is currently 16.54%.

About Lennar

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.