Nordea Investment Management AB Increases Position in Lennar Co. (NYSE:LEN)

Nordea Investment Management AB increased its holdings in shares of Lennar Co. (NYSE:LEN) by 21.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,250,626 shares of the construction company’s stock after acquiring an additional 397,492 shares during the period. Nordea Investment Management AB’s holdings in Lennar were worth $308,696,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. D1 Capital Partners L.P. grew its stake in Lennar by 428.9% in the 2nd quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock worth $362,685,000 after acquiring an additional 1,962,447 shares in the last quarter. Holocene Advisors LP bought a new position in Lennar in the third quarter worth approximately $115,229,000. Pacer Advisors Inc. increased its holdings in Lennar by 15.1% during the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock worth $452,886,000 after purchasing an additional 396,951 shares during the period. KBC Group NV raised its position in Lennar by 258.3% during the 3rd quarter. KBC Group NV now owns 494,848 shares of the construction company’s stock valued at $92,774,000 after purchasing an additional 356,731 shares in the last quarter. Finally, Marshall Wace LLP grew its position in shares of Lennar by 20.9% during the 2nd quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock worth $302,084,000 after buying an additional 348,553 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on LEN shares. Citigroup upped their price objective on shares of Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. BTIG Research downgraded shares of Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. UBS Group reduced their price objective on shares of Lennar from $225.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Wedbush reaffirmed a “neutral” rating and set a $164.00 target price on shares of Lennar in a research report on Thursday, December 19th. Finally, Barclays reduced their price target on Lennar from $181.00 to $135.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $175.19.

Insider Activity at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the sale, the director now directly owns 23,689 shares in the company, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 9.36% of the stock is owned by insiders.

Lennar Trading Up 1.1 %

NYSE LEN opened at $135.88 on Monday. The stock has a market cap of $36.86 billion, a P/E ratio of 9.00, a P/E/G ratio of 1.28 and a beta of 1.66. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. Lennar Co. has a 12-month low of $133.72 and a 12-month high of $193.80. The company has a fifty day simple moving average of $160.25 and a two-hundred day simple moving average of $168.40.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). The firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business’s revenue was down 9.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.82 EPS. On average, analysts forecast that Lennar Co. will post 14.11 earnings per share for the current year.

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.