Nan Shan Life Insurance Co. Ltd. Has $29.68 Million Stock Position in Lennar Corporation $LEN

Nan Shan Life Insurance Co. Ltd. lifted its position in shares of Lennar Corporation (NYSE:LEN) by 6,292.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 328,000 shares of the construction company’s stock after purchasing an additional 322,869 shares during the quarter. Nan Shan Life Insurance Co. Ltd.’s holdings in Lennar were worth $29,681,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of LEN. Magnolia Group LLC acquired a new stake in Lennar during the fourth quarter valued at approximately $6,756,000. MUFG Securities EMEA plc lifted its holdings in shares of Lennar by 2,522.7% during the fourth quarter. MUFG Securities EMEA plc now owns 114,245 shares of the construction company’s stock valued at $11,744,000 after acquiring an additional 109,889 shares during the period. Element Capital Management LLC bought a new stake in shares of Lennar in the 4th quarter worth about $6,437,000. Myriad Asset Management Advisors LLC acquired a new stake in shares of Lennar during the 4th quarter worth about $1,511,000. Finally, Cutler Investment Counsel LLC grew its stake in Lennar by 59.3% during the fourth quarter. Cutler Investment Counsel LLC now owns 42,464 shares of the construction company’s stock worth $4,365,000 after buying an additional 15,802 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on LEN shares. Truist Financial reduced their target price on Lennar from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Thursday, August 6th. UBS Group lowered their price objective on shares of Lennar from $107.00 to $94.00 and set a “neutral” rating for the company in a research report on Tuesday, June 16th. Keefe, Bruyette & Woods reduced their target price on shares of Lennar from $86.00 to $85.00 and set an “underperform” rating on the stock in a research report on Wednesday, June 17th. Evercore raised their price target on shares of Lennar from $82.00 to $87.00 and gave the company an “underperform” rating in a report on Monday, June 15th. Finally, Zacks Research downgraded Lennar from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and ten have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $92.13.

Lennar Trading Down 1.2%

LEN opened at $83.07 on Wednesday. The firm has a 50 day simple moving average of $86.20 and a 200 day simple moving average of $91.63. Lennar Corporation has a fifty-two week low of $79.82 and a fifty-two week high of $144.24. The company has a market cap of $20.01 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 2.79 and a beta of 1.39. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.91 and a quick ratio of 0.91.

Lennar (NYSE:LEN) last released its earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.07. The firm had revenue of $7.94 billion for the quarter, compared to analyst estimates of $8.08 billion. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.81 earnings per share. On average, sell-side analysts anticipate that Lennar Corporation will post 5.52 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were given a $0.50 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. Lennar’s dividend payout ratio is currently 31.30%.

Lennar Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.