Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Lennar Co. (NYSE:LEN) by 3.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,770 shares of the construction company’s stock after buying an additional 2,051 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Lennar were worth $2,283,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its stake in shares of Lennar by 22.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 12,618,097 shares of the construction company’s stock valued at $482,012,000 after acquiring an additional 2,285,388 shares during the last quarter. Sound Shore Management Inc. CT increased its holdings in Lennar by 23.4% in the 1st quarter. Sound Shore Management Inc. CT now owns 2,516,837 shares of the construction company’s stock worth $96,143,000 after purchasing an additional 478,019 shares in the last quarter. Smead Capital Management Inc. raised its position in Lennar by 7.9% in the first quarter. Smead Capital Management Inc. now owns 1,596,920 shares of the construction company’s stock valued at $61,002,000 after purchasing an additional 117,440 shares during the last quarter. TCW Group Inc. boosted its stake in shares of Lennar by 4.0% during the first quarter. TCW Group Inc. now owns 1,490,826 shares of the construction company’s stock valued at $56,949,000 after purchasing an additional 57,216 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in shares of Lennar by 23.8% during the first quarter. Eagle Asset Management Inc. now owns 1,237,515 shares of the construction company’s stock worth $47,273,000 after purchasing an additional 237,600 shares during the last quarter. Institutional investors and hedge funds own 82.28% of the company’s stock.

Shares of Lennar stock opened at $60.95 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.24 and a current ratio of 14.27. Lennar Co. has a 52-week low of $25.42 and a 52-week high of $71.38. The company’s 50 day moving average price is $59.01 and its 200-day moving average price is $55.84. The stock has a market capitalization of $18.42 billion, a price-to-earnings ratio of 9.18, a P/E/G ratio of 3.08 and a beta of 1.56.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Monday, June 15th. The construction company reported $1.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.36. The business had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.20 billion. Lennar had a net margin of 9.30% and a return on equity of 13.08%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.30 EPS. As a group, equities research analysts forecast that Lennar Co. will post 6.2 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, July 10th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.82%. Lennar’s dividend payout ratio is currently 8.71%.

Several equities research analysts recently commented on LEN shares. Credit Suisse Group lifted their target price on shares of Lennar from $62.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 17th. Wedbush increased their target price on shares of Lennar from $63.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, June 16th. Zacks Investment Research downgraded Lennar from a “hold” rating to a “sell” rating and set a $43.00 price objective on the stock. in a research note on Thursday, March 26th. Barclays boosted their target price on shares of Lennar from $63.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, June 17th. Finally, Royal Bank of Canada increased their price target on Lennar from $61.00 to $68.00 and gave the stock a “fair value” rating in a report on Wednesday, June 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $64.58.

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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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