Lennar Corporation $LEN Shares Acquired by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Lennar Corporation by 11.7%, owning 49,601 shares valued at $5.69 million as of the latest filing.
• Lennar reported earnings per share of $1.90, missing the consensus estimate of $1.94, and generated revenue of $8.38 billion for the quarter, slightly above analyst expectations.
• The firm recently declared a quarterly dividend of $0.50 per share, representing an annualized dividend yield of 1.5% and a payout ratio of 16.54%.

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Lennar Corporation (NYSE:LEN - Free Report) by 11.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,601 shares of the construction company's stock after purchasing an additional 5,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Lennar were worth $5,693,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in Lennar by 27.9% in the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company's stock valued at $236,000 after purchasing an additional 377 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Lennar by 4.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 12,768 shares of the construction company's stock worth $1,749,000 after purchasing an additional 524 shares in the last quarter. CreativeOne Wealth LLC raised its stake in shares of Lennar by 6.2% during the 4th quarter. CreativeOne Wealth LLC now owns 4,551 shares of the construction company's stock worth $621,000 after purchasing an additional 264 shares in the last quarter. GeoWealth Management LLC raised its stake in shares of Lennar by 86.4% during the 4th quarter. GeoWealth Management LLC now owns 3,359 shares of the construction company's stock worth $458,000 after purchasing an additional 1,557 shares in the last quarter. Finally, HGI Capital Management LLC bought a new stake in shares of Lennar during the 4th quarter worth approximately $1,808,000. Institutional investors own 81.10% of the company's stock.

Lennar Stock Performance

Shares of NYSE LEN traded down $2.73 during trading on Thursday, reaching $127.59. 838,803 shares of the stock traded hands, compared to its average volume of 3,168,172. The stock has a market capitalization of $33.05 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 5.70 and a beta of 1.29. Lennar Corporation has a 52-week low of $98.42 and a 52-week high of $193.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. The company has a 50-day moving average of $115.19 and a 200-day moving average of $114.19.

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

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Thursday, July 3rd. Lennar's dividend payout ratio (DPR) is 16.54%.

Analysts Set New Price Targets

LEN has been the subject of several research analyst reports. Keefe, Bruyette & Woods reduced their target price on Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a research note on Friday, June 20th. Bank of America cut their price target on Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, June 18th. Royal Bank Of Canada cut their price target on Lennar from $122.00 to $98.00 and set a "sector perform" rating for the company in a research note on Wednesday, June 18th. Evercore ISI cut their price target on Lennar from $131.00 to $114.00 and set an "in-line" rating for the company in a research note on Wednesday, June 18th. Finally, JMP Securities decreased their price objective on shares of Lennar from $150.00 to $130.00 and set a "market outperform" rating on the stock in a research note on Friday, June 20th. One investment 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $128.85.

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.