DnB Asset Management AS Sells 607 Shares of Lennar Co. (NYSE:LEN)

DnB Asset Management AS reduced its position in shares of Lennar Co. (NYSE:LEN) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,040 shares of the construction company’s stock after selling 607 shares during the quarter. DnB Asset Management AS’s holdings in Lennar were worth $5,733,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LEN. Armstrong Advisory Group Inc. grew its position in Lennar by 69.4% during the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after buying an additional 75 shares during the period. Wolff Wiese Magana LLC boosted its stake in shares of Lennar by 51.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company’s stock worth $32,000 after acquiring an additional 79 shares during the last quarter. Howard Capital Management Inc. grew its position in shares of Lennar by 0.3% during the 4th quarter. Howard Capital Management Inc. now owns 28,836 shares of the construction company’s stock valued at $3,932,000 after acquiring an additional 81 shares during the period. Premier Path Wealth Partners LLC increased its stake in shares of Lennar by 2.1% in the 4th quarter. Premier Path Wealth Partners LLC now owns 4,284 shares of the construction company’s stock worth $584,000 after purchasing an additional 87 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its holdings in Lennar by 1.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,546 shares of the construction company’s stock worth $1,036,000 after purchasing an additional 92 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

LEN stock opened at $113.83 on Monday. The company has a fifty day simple moving average of $124.05 and a two-hundred day simple moving average of $150.94. Lennar Co. has a 52 week low of $111.26 and a 52 week high of $187.61. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $30.22 billion, a P/E ratio of 7.94, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.44. The company had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.57 earnings per share. Analysts anticipate that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.76%. Lennar’s dividend payout ratio is presently 14.57%.

Analyst Upgrades and Downgrades

LEN has been the topic of several recent research reports. Wolfe Research downgraded Lennar from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group lowered their price target on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. Royal Bank of Canada reduced their price objective on shares of Lennar from $125.00 to $122.00 and set a “sector perform” rating for the company in a research note on Monday, March 24th. StockNews.com downgraded shares of Lennar from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Bank of America decreased their price target on Lennar from $140.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $151.07.

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.