Livforsakringsbolaget Skandia Omsesidigt Has $982,000 Position in Lennar Corporation $LEN

Key Points

• Livforsakringsbolaget Skandia Omsesidigt reduced its stake in Lennar Corporation by 66.3%, owning 8,882 shares worth approximately $982,000 after selling 17,500 shares in the second quarter.
• Lennar's recent earnings report showed an EPS of $2.29 for the quarter, exceeding estimates, but revenue decreased 6.4% year-over-year, totaling $8.81 billion.
• Analysts have adjusted target prices for Lennar, with Evercore ISI lowering its target from $131 to $114 and multiple firms providing ratings ranging from "strong buy" to "hold."

Livforsakringsbolaget Skandia Omsesidigt cut its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 66.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,882 shares of the construction company's stock after selling 17,500 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Lennar were worth $982,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted 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 buying an additional 2,777,567 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Lennar during the second quarter worth $424,950,000. Brave Warrior Advisors LLC lifted its position in shares of Lennar by 23.4% during the first quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company's stock worth $251,323,000 after purchasing an additional 415,218 shares during the last quarter. Eminence Capital LP lifted its position in shares of Lennar by 130.8% during the first quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company's stock worth $181,523,000 after purchasing an additional 896,264 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Lennar by 20.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 736,490 shares of the construction company's stock worth $84,534,000 after purchasing an additional 123,266 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on LEN shares. Barclays cut their price target on Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 18th. Keefe, Bruyette & Woods decreased their target price on Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a report on Friday, June 20th. Wells Fargo & Company lifted their target price on Lennar from $110.00 to $135.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 2nd. JMP Securities boosted their price target on Lennar from $130.00 to $140.00 and gave the company a "market outperform" rating in a report on Monday. Finally, Bank of America boosted their price target on Lennar from $115.00 to $135.00 and gave the company a "neutral" rating in a report on Thursday, September 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 given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $123.75.

Lennar Trading Up 0.4%

LEN stock traded up $0.43 during trading on Tuesday, reaching $122.34. 1,123,509 shares of the stock traded hands, compared to its average volume of 3,279,823. Lennar Corporation has a 52-week low of $98.42 and a 52-week high of $189.65. The business's 50 day moving average price is $126.15 and its 200-day moving average price is $115.89. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. The firm has a market capitalization of $31.69 billion, a PE ratio of 12.10, a P/E/G ratio of 5.40 and a beta of 1.33.

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 the consensus estimate of $2.14 by $0.15. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The firm had revenue of $8.81 billion for the quarter, compared to analysts' expectations of $9.01 billion. During the same quarter in the prior year, the firm posted $3.90 earnings per share. Lennar's revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current year.

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.