Andra AP fonden Invests $150,000 in Lennar Co. (NYSE:LEN)

Andra AP fonden purchased a new position in Lennar Co. (NYSE:LEN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,000 shares of the construction company’s stock, valued at approximately $150,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. raised its stake in shares of Lennar by 5.5% during the fourth quarter. Gilbert & Cook Inc. now owns 4,053 shares of the construction company’s stock valued at $604,000 after acquiring an additional 211 shares in the last quarter. Private Advisor Group LLC raised its position in Lennar by 1.2% during the 4th quarter. Private Advisor Group LLC now owns 8,366 shares of the construction company’s stock valued at $1,247,000 after purchasing an additional 97 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Lennar by 89.7% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,652 shares of the construction company’s stock worth $246,000 after buying an additional 781 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Lennar by 1.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,448 shares of the construction company’s stock worth $663,000 after buying an additional 70 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of Lennar by 143.5% in the fourth quarter. Boston Partners now owns 19,568 shares of the construction company’s stock valued at $2,916,000 after acquiring an additional 11,531 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on LEN shares. JPMorgan Chase & Co. cut their target price on shares of Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Royal Bank of Canada reissued an “underperform” rating and issued a $145.00 price objective on shares of Lennar in a research note on Thursday, June 20th. Wells Fargo & Company increased their target price on Lennar from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday. Citigroup reissued a “neutral” rating and issued a $164.00 price target (down from $174.00) on shares of Lennar in a research report on Tuesday, July 2nd. Finally, Keefe, Bruyette & Woods lifted their target price on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Lennar currently has a consensus rating of “Hold” and an average target price of $172.69.

Lennar Trading Up 1.8 %

NYSE:LEN opened at $181.38 on Friday. The company has a market capitalization of $49.81 billion, a P/E ratio of 12.33, a PEG ratio of 1.63 and a beta of 1.61. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. Lennar Co. has a 12 month low of $102.90 and a 12 month high of $186.60. The firm has a fifty day simple moving average of $171.80 and a 200-day simple moving average of $162.68.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Monday, June 17th. The construction company reported $3.38 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.18. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.57 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. On average, equities research analysts anticipate that Lennar Co. will post 14.16 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were issued a $0.50 dividend. The ex-dividend date was Friday, July 5th. This represents a $2.00 annualized dividend and a yield of 1.10%. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

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.