Lennar Corporation $LEN Position Increased by Nan Shan Life Insurance Co. Ltd.

Key Points

• Nan Shan Life Insurance increased its Lennar stake by 6,292.5% in the second quarter, ending with 328,000 shares valued at approximately $29.7 million. Institutional investors collectively own 81.1% of Lennar.
• Lennar’s stock opened at $83.07, down 1.2%, and has declined substantially from its 12-month high of $144.24. The company beat quarterly EPS expectations, but revenue fell 5.2% year over year to $7.94 billion.
• Lennar maintains a quarterly dividend of $0.50 per share, equivalent to a 2.4% annualized yield. Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $92.13.

Nan Shan Life Insurance Co. Ltd. lifted its position in Lennar Corporation (NYSE:LEN - Free Report) by 6,292.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 328,000 shares of the construction company's stock after acquiring an additional 322,869 shares during the period. Nan Shan Life Insurance Co. Ltd. owned about 0.14% of Lennar worth $29,681,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its stake in Lennar by 19.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,546,970 shares of the construction company's stock valued at $221,176,000 after purchasing an additional 419,745 shares during the period. Viking Global Investors LP grew its holdings in shares of Lennar by 86.7% during the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company's stock valued at $279,135,000 after buying an additional 1,172,068 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. raised its position in Lennar by 90.9% during the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,963,373 shares of the construction company's stock valued at $201,835,000 after buying an additional 934,856 shares during the period. Freestone Grove Partners LP purchased a new stake in Lennar in the 4th quarter worth about $95,941,000. Finally, Swiss National Bank boosted its position in Lennar by 4.8% during the 1st quarter. Swiss National Bank now owns 601,468 shares of the construction company's stock worth $52,231,000 after acquiring an additional 27,500 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Stock Down 1.2%

LEN opened at $83.07 on Wednesday. The firm has a market cap of $20.01 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 2.79 and a beta of 1.39. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91. The business has a 50 day moving average price of $86.20 and a 200 day moving average price of $91.63. Lennar Corporation has a twelve month low of $79.82 and a twelve month high of $144.24.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.24 by $0.07. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The company had revenue of $7.94 billion for the quarter, compared to analyst estimates of $8.08 billion. During the same quarter last year, the firm posted $1.81 earnings per share. The company's quarterly revenue was down 5.2% compared to the same quarter last year. Research analysts forecast that Lennar Corporation will post 5.52 EPS for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. Lennar's payout ratio is 31.30%.

Analyst Ratings Changes

LEN has been the topic of several research reports. Keefe, Bruyette & Woods dropped their price objective on shares of Lennar from $86.00 to $85.00 and set an "underperform" rating on the stock in a research note on Wednesday, June 17th. BTIG Research set a $67.00 price target on shares of Lennar in a research note on Monday, June 15th. Citigroup reduced their price objective on Lennar from $104.00 to $88.00 and set a "neutral" rating for the company in a research report on Wednesday, July 15th. Wells Fargo & Company cut their price objective on shares of Lennar from $90.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Monday, June 15th. Finally, Zacks Research downgraded shares of Lennar from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and ten have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $92.13.

About Lennar

Lennar Corporation NYSE: LEN is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.

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