Forsta AP Fonden Buys 5,800 Shares of Lennar Co. (NYSE:LEN)

Forsta AP Fonden increased its position in Lennar Co. (NYSE:LEN) by 13.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,500 shares of the construction company’s stock after acquiring an additional 5,800 shares during the quarter. Forsta AP Fonden’s holdings in Lennar were worth $8,905,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Lennar by 10.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,488 shares of the construction company’s stock valued at $5,516,000 after purchasing an additional 2,780 shares in the last quarter. Osborne Partners Capital Management LLC purchased a new position in Lennar during the third quarter worth about $216,000. Parcion Private Wealth LLC bought a new position in Lennar in the 3rd quarter worth about $217,000. Lyell Wealth Management LP boosted its position in shares of Lennar by 3.7% during the 3rd quarter. Lyell Wealth Management LP now owns 78,623 shares of the construction company’s stock valued at $14,740,000 after acquiring an additional 2,785 shares during the last quarter. Finally, Financial Management Network Inc. purchased a new position in shares of Lennar during the third quarter worth about $326,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

LEN has been the subject of several research analyst reports. Bank Of America (Bofa) lifted their target price on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Wedbush reiterated a “neutral” rating and issued a $144.00 target price on shares of Lennar in a research report on Friday, September 20th. Citigroup increased their target price on Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Evercore ISI cut their price objective on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a report on Monday, September 23rd. Finally, Barclays boosted their target price on Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $181.11.

Lennar Stock Performance

Lennar stock opened at $173.28 on Monday. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The firm has a market cap of $47.00 billion, a P/E ratio of 11.48, a P/E/G ratio of 1.62 and a beta of 1.61. Lennar Co. has a 1-year low of $102.90 and a 1-year high of $193.80. The firm has a 50-day moving average of $182.08 and a 200-day moving average of $167.22.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter last year, the business posted $3.91 EPS. The business’s revenue was up 7.9% on a year-over-year basis. Sell-side analysts expect that Lennar Co. will post 14.18 EPS for the current year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 annualized dividend and a yield of 1.15%. Lennar’s dividend payout ratio (DPR) is presently 13.25%.

About Lennar

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.