Lennar Co. (NYSE:LEN) Shares Acquired by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Lennar Co. (NYSE:LEN) by 29.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 82,572 shares of the construction company’s stock after buying an additional 18,800 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Lennar were worth $11,246,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Holocene Advisors LP acquired a new position in Lennar during the third quarter worth approximately $115,229,000. Pacer Advisors Inc. increased its position in Lennar by 22.0% during the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock worth $446,110,000 after buying an additional 589,553 shares during the period. Nordea Investment Management AB increased its position in Lennar by 21.4% during the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock worth $308,696,000 after buying an additional 397,492 shares during the period. Y Intercept Hong Kong Ltd increased its position in Lennar by 2,774.5% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 123,142 shares of the construction company’s stock worth $16,793,000 after buying an additional 118,858 shares during the period. Finally, Prana Capital Management LP increased its position in Lennar by 68.6% during the third quarter. Prana Capital Management LP now owns 288,661 shares of the construction company’s stock worth $54,118,000 after buying an additional 117,430 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wedbush reaffirmed a “neutral” rating and set a $164.00 price target on shares of Lennar in a research report on Thursday, December 19th. Barclays lowered their target price on Lennar from $135.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Wolfe Research downgraded Lennar from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Citigroup lowered their target price on Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, Royal Bank of Canada lowered their target price on Lennar from $130.00 to $125.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. Fifteen equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $165.93.

Lennar Stock Performance

Shares of LEN stock opened at $118.06 on Friday. The stock has a fifty day moving average price of $127.53 and a 200 day moving average price of $155.67. The stock has a market cap of $31.35 billion, a PE ratio of 8.23, a P/E/G ratio of 1.24 and a beta of 1.69. Lennar Co. has a 1 year low of $115.61 and a 1 year high of $187.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($0.12). The firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.82 earnings per share. Sell-side analysts forecast that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 annualized dividend and a yield of 1.69%. Lennar’s dividend payout ratio is presently 13.95%.

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.