Swedbank AB Has $10.50 Million Stock Position in Lennar Corporation $LEN

Key Points

• Swedbank AB increased its holdings in Lennar Corporation by 2.8% in Q2, owning 94,919 shares valued at approximately $10.5 million after purchasing 2,617 additional shares.
• Analysts have lowered their price targets for Lennar, with the average target now at $128.33, and multiple brokerages have adjusted their ratings amid weak earnings expectations.
• Lennar's recent quarterly earnings showed EPS of $2.29, which was above the consensus estimate, although their revenue of $8.81 billion fell short of analysts' expectations.

Swedbank AB raised its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 2.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,919 shares of the construction company's stock after buying an additional 2,617 shares during the period. Swedbank AB's holdings in Lennar were worth $10,499,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its position in Lennar by 45.4% in the first quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company's stock worth $1,020,866,000 after acquiring an additional 2,777,567 shares in the last quarter. Eminence Capital LP grew its position in Lennar by 130.8% in the first quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company's stock worth $181,523,000 after acquiring an additional 896,264 shares in the last quarter. Brave Warrior Advisors LLC grew its position in Lennar by 23.4% in the first quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company's stock worth $251,323,000 after acquiring an additional 415,218 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in Lennar in the first quarter worth approximately $41,788,000. Finally, Ceredex Value Advisors LLC bought a new stake in Lennar in the first quarter worth approximately $38,125,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Royal Bank Of Canada boosted their target price on shares of Lennar from $98.00 to $106.00 and gave the stock a "sector perform" rating in a research report on Monday. Zacks Research upgraded shares of Lennar from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. Wells Fargo & Company boosted their price objective on shares of Lennar from $110.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Lennar from $97.00 to $92.00 and set a "neutral" rating for the company in a research note on Monday. Finally, Zelman & Associates cut shares of Lennar from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lennar has an average rating of "Hold" and an average price target of $123.25.

Lennar Price Performance

Shares of LEN stock traded down $5.43 during mid-day trading on Monday, reaching $121.90. The company's stock had a trading volume of 6,039,107 shares, compared to its average volume of 3,870,134. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $189.65. The company has a market cap of $31.57 billion, a P/E ratio of 12.04, a PEG ratio of 5.40 and a beta of 1.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49. The firm's 50-day moving average is $126.15 and its two-hundred day moving average is $115.89.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings data on Thursday, September 18th. The construction company reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.14 by $0.15. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The company had revenue of $8.81 billion during the quarter, compared to analysts' expectations of $9.01 billion. During the same quarter in the prior year, the company posted $3.90 EPS. The business's revenue was down 6.4% on a year-over-year basis. On average, research analysts predict that Lennar Corporation will post 12.48 earnings per share for the current year.

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.