Forsta AP Fonden Trims Stock Position in Lennar Co. (NYSE:LEN)

Forsta AP Fonden lessened its position in shares of Lennar Co. (NYSE:LEN) by 12.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,700 shares of the construction company’s stock after selling 5,700 shares during the quarter. Forsta AP Fonden’s holdings in Lennar were worth $6,250,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Boston Partners increased its holdings in Lennar by 21.5% in the 1st quarter. Boston Partners now owns 23,775 shares of the construction company’s stock valued at $4,089,000 after purchasing an additional 4,207 shares during the last quarter. Integrated Advisors Network LLC increased its holdings in Lennar by 177.3% in the 4th quarter. Integrated Advisors Network LLC now owns 31,258 shares of the construction company’s stock valued at $4,659,000 after purchasing an additional 19,985 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services increased its holdings in Lennar by 331.8% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 12,033 shares of the construction company’s stock valued at $2,069,000 after purchasing an additional 9,246 shares during the last quarter. Grayhawk Investment Strategies Inc. acquired a new stake in Lennar in the 4th quarter valued at approximately $838,000. Finally, Norden Group LLC acquired a new stake in Lennar in the 1st quarter valued at approximately $5,592,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

Shares of LEN opened at $185.91 on Friday. Lennar Co. has a 1-year low of $102.90 and a 1-year high of $186.60. The stock has a market cap of $51.05 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 1.61 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91. The firm has a fifty day moving average price of $172.66 and a 200 day moving average price of $162.96.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Monday, June 17th. The construction company reported $3.38 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $0.18. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The firm had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.57 billion. As a group, sell-side analysts anticipate that Lennar Co. will post 14.16 EPS for the current year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were given a $0.50 dividend. The ex-dividend date was Friday, July 5th. This represents a $2.00 dividend on an annualized basis and a yield of 1.08%. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LEN. The Goldman Sachs Group downgraded shares of Lennar from a “buy” rating to a “neutral” rating and dropped their target price for the company from $180.00 to $174.00 in a report on Monday, July 22nd. Raymond James downgraded shares of Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods boosted their price target on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. JMP Securities restated a “market outperform” rating and issued a $170.00 price target on shares of Lennar in a research note on Thursday, June 20th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Lennar from $157.00 to $154.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Lennar currently has a consensus rating of “Hold” and an average price target of $172.69.

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.