Nykredit A S Purchases Shares of 62,743 Lennar Corporation $LEN

Key Points

• Nykredit A/S purchased 62,743 Lennar shares during the second quarter, establishing a position valued at approximately $5.68 million. Institutional investors and hedge funds collectively own 81.1% of Lennar.
• Analysts remain cautious: Lennar has a consensus “Reduce” rating, with one Buy, seven Hold, and ten Sell ratings. The average price target is $92.13, while several firms recently lowered their targets.
• Lennar’s latest quarterly earnings beat expectations at $1.31 per share, but revenue fell 5.2% year over year to $7.94 billion. The company also maintains a $0.50 quarterly dividend, equivalent to a 2.4% annualized yield.

Nykredit A S purchased a new position in Lennar Corporation (NYSE:LEN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 62,743 shares of the construction company's stock, valued at approximately $5,678,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its stake in Lennar by 7.1% in the 2nd quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company's stock worth $141,000 after purchasing an additional 85 shares in the last quarter. Rossby Financial LCC increased its stake in Lennar by 9.1% in the 4th quarter. Rossby Financial LCC now owns 1,059 shares of the construction company's stock valued at $109,000 after buying an additional 88 shares during the period. New Mexico Educational Retirement Board increased its stake in shares of Lennar by 1.0% in the fourth quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company's stock worth $1,086,000 after acquiring an additional 100 shares during the last quarter. KDT Advisors LLC raised its stake in shares of Lennar by 2.7% during the 3rd quarter. KDT Advisors LLC now owns 4,654 shares of the construction company's stock worth $587,000 after purchasing an additional 123 shares in the last quarter. Finally, KCM Investment Advisors LLC raised its position in Lennar by 1.3% during the first quarter. KCM Investment Advisors LLC now owns 9,879 shares of the construction company's stock valued at $858,000 after acquiring an additional 125 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Truist Financial cut their target price on Lennar from $90.00 to $80.00 and set a "hold" rating on the stock in a report on Thursday, August 6th. Keefe, Bruyette & Woods cut their target price on shares of Lennar from $86.00 to $85.00 and set an "underperform" rating for the company in a research note on Wednesday, June 17th. Wells Fargo & Company reduced their price objective on Lennar from $90.00 to $85.00 and set an "equal weight" rating for the company in a research report on Monday, June 15th. Citigroup reduced their price objective on shares of Lennar from $104.00 to $88.00 and set a "neutral" rating for the company in a report on Wednesday, July 15th. Finally, Argus set a $108.00 target price on Lennar in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $92.13.

Lennar Price Performance

Shares of LEN stock opened at $83.70 on Monday. The firm has a market capitalization of $20.16 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 2.78 and a beta of 1.39. The company has a current ratio of 4.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. The firm's 50 day moving average is $85.63 and its 200-day moving average is $90.82. Lennar Corporation has a 1 year low of $79.82 and a 1 year high of $144.24.

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

Lennar Announces Dividend

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

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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