Lennar Co. (NYSE:LEN) Shares Sold by Maj Invest Holding A S

Maj Invest Holding A S lowered its stake in shares of Lennar Co. (NYSE:LENGet Rating) by 26.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,462,247 shares of the construction company’s stock after selling 874,024 shares during the quarter. Lennar makes up about 3.7% of Maj Invest Holding A S’s investment portfolio, making the stock its 15th largest holding. Maj Invest Holding A S owned approximately 0.83% of Lennar worth $199,864,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in LEN. Pacer Advisors Inc. lifted its stake in Lennar by 290.2% in the first quarter. Pacer Advisors Inc. now owns 709,572 shares of the construction company’s stock valued at $57,596,000 after buying an additional 527,735 shares during the last quarter. Smead Capital Management Inc. increased its stake in Lennar by 18.5% in the 4th quarter. Smead Capital Management Inc. now owns 1,978,201 shares of the construction company’s stock worth $229,788,000 after purchasing an additional 309,083 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Lennar in the 4th quarter worth about $28,515,000. Marshall Wace LLP grew its stake in Lennar by 280.2% during the 4th quarter. Marshall Wace LLP now owns 324,974 shares of the construction company’s stock valued at $37,750,000 after acquiring an additional 239,494 shares in the last quarter. Finally, Dendur Capital LP grew its stake in Lennar by 125.3% during the 4th quarter. Dendur Capital LP now owns 405,500 shares of the construction company’s stock valued at $47,103,000 after acquiring an additional 225,500 shares in the last quarter. 82.00% of the stock is owned by hedge funds and other institutional investors.

Shares of Lennar stock traded up $3.46 during trading hours on Friday, hitting $74.03. The company’s stock had a trading volume of 88,798 shares, compared to its average volume of 2,862,694. The company has a debt-to-equity ratio of 0.21, a current ratio of 8.06 and a quick ratio of 0.62. The company has a market capitalization of $21.88 billion, a PE ratio of 4.83, a price-to-earnings-growth ratio of 4.18 and a beta of 1.46. Lennar Co. has a 12 month low of $62.54 and a 12 month high of $117.54. The stock has a 50 day moving average of $74.96 and a 200 day moving average of $87.09.

Lennar (NYSE:LENGet Rating) last posted its quarterly earnings results on Tuesday, June 21st. The construction company reported $4.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.99 by $0.50. Lennar had a return on equity of 21.45% and a net margin of 14.77%. During the same period in the prior year, the business earned $2.95 earnings per share. Equities analysts expect that Lennar Co. will post 16.87 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 21st. Investors of record on Thursday, July 7th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Wednesday, July 6th. This represents a $1.50 annualized dividend and a yield of 2.03%. Lennar’s payout ratio is currently 10.27%.

LEN has been the subject of several research reports. Wedbush reduced their price target on Lennar from $130.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, June 22nd. Evercore ISI assumed coverage on Lennar in a report on Friday, March 18th. They set a “buy” rating and a $151.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on Lennar from $108.00 to $89.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 13th. Royal Bank of Canada lowered their price objective on Lennar from $109.00 to $100.00 and set a “sector perform” rating on the stock in a research report on Friday, March 18th. Finally, KeyCorp lowered their price target on Lennar from $75.00 to $60.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $94.00.

Lennar Profile (Get Rating)

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.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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