DnB Asset Management AS Reduces Stock Position in Lennar Co. (NYSE:LEN)

DnB Asset Management AS decreased its holdings in Lennar Co. (NYSE:LEN) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,040 shares of the construction company’s stock after selling 607 shares during the period. DnB Asset Management AS’s holdings in Lennar were worth $5,733,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. CreativeOne Wealth LLC lifted its holdings in Lennar by 3.7% during the 3rd quarter. CreativeOne Wealth LLC now owns 4,287 shares of the construction company’s stock valued at $804,000 after buying an additional 151 shares in the last quarter. Bamco Inc. NY raised its stake in shares of Lennar by 2.6% during the third quarter. Bamco Inc. NY now owns 711,023 shares of the construction company’s stock valued at $133,303,000 after acquiring an additional 17,834 shares in the last quarter. Community Bank N.A. boosted its holdings in shares of Lennar by 14.6% in the third quarter. Community Bank N.A. now owns 4,465 shares of the construction company’s stock valued at $837,000 after purchasing an additional 570 shares during the period. Holocene Advisors LP purchased a new position in Lennar during the 3rd quarter worth $115,229,000. Finally, Hilltop Holdings Inc. bought a new stake in Lennar during the 3rd quarter valued at $533,000. 81.10% of the stock is currently owned by institutional investors.

Lennar Trading Down 3.5 %

Lennar stock opened at $113.83 on Monday. The stock has a 50-day moving average price of $124.05 and a 200 day moving average price of $150.94. The company has a market capitalization of $30.22 billion, a price-to-earnings ratio of 7.94, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. Lennar Co. has a 52 week low of $111.26 and a 52 week high of $187.61. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, beating the consensus estimate of $1.70 by $0.44. The business had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.57 EPS. Sell-side analysts anticipate that Lennar Co. will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.76%. Lennar’s payout ratio is currently 14.57%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LEN shares. Bank of America cut their price target on Lennar from $140.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. JPMorgan Chase & Co. reduced their price target on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Seaport Res Ptn upgraded shares of Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. UBS Group reduced their price objective on shares of Lennar from $183.00 to $164.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Finally, The Goldman Sachs Group dropped their price objective on Lennar from $141.00 to $120.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $151.07.

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.