Swedbank AB Purchases Shares of 168,610 Lennar Co. (NYSE:LEN)

Swedbank AB bought a new position in Lennar Co. (NYSE:LEN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 168,610 shares of the construction company’s stock, valued at approximately $28,998,000. Swedbank AB owned approximately 0.06% of Lennar as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC lifted its stake in Lennar by 484.0% in the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after purchasing an additional 121 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in Lennar during the first quarter worth about $30,000. New Covenant Trust Company N.A. purchased a new position in Lennar in the first quarter worth about $32,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Lennar during the first quarter valued at approximately $35,000. Finally, Criterion Capital Advisors LLC purchased a new position in shares of Lennar in the fourth quarter worth $36,000. 81.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of Lennar stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.11, for a total transaction of $1,701,100.00. Following the completion of the sale, the insider now directly owns 118,629 shares in the company, valued at $20,179,979.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Lennar news, VP Mark Sustana sold 9,176 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $164.88, for a total transaction of $1,512,938.88. Following the completion of the transaction, the vice president now directly owns 16,768 shares of the company’s stock, valued at approximately $2,764,707.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.11, for a total transaction of $1,701,100.00. Following the completion of the sale, the insider now directly owns 118,629 shares in the company, valued at $20,179,979.19. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,176 shares of company stock valued at $4,841,039. Insiders own 9.36% of the company’s stock.

Lennar Stock Down 1.0 %

Shares of Lennar stock opened at $174.46 on Friday. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08. The company has a market cap of $47.91 billion, a P/E ratio of 11.86, a PEG ratio of 1.60 and a beta of 1.60. The firm’s 50 day moving average price is $157.92 and its 200-day moving average price is $157.69. Lennar Co. has a 52-week low of $102.90 and a 52-week high of $182.53.

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

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Friday, July 5th. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

Analyst Ratings Changes

Several analysts recently commented on LEN shares. JMP Securities reaffirmed a “market outperform” rating and issued a $170.00 price objective on shares of Lennar in a report on Thursday, June 20th. Royal Bank of Canada reissued an “underperform” rating and issued a $145.00 target price on shares of Lennar in a report on Thursday, June 20th. Raymond James cut shares of Lennar from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. StockNews.com downgraded Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. Finally, BTIG Research dropped their target price on Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Lennar currently has an average rating of “Hold” and a consensus price target of $167.88.

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.