NN Investment Partners Holdings N.V. Raises Stock Position in Lennar Co. (NYSE:LEN)

NN Investment Partners Holdings N.V. raised its stake in shares of Lennar Co. (NYSE:LEN) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,490 shares of the construction company’s stock after acquiring an additional 4,841 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Lennar were worth $9,227,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of LEN. GQG Partners LLC purchased a new position in Lennar in the second quarter valued at $150,197,000. Nordea Investment Management AB boosted its stake in shares of Lennar by 105.7% in the third quarter. Nordea Investment Management AB now owns 2,479,008 shares of the construction company’s stock worth $239,374,000 after acquiring an additional 1,274,105 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Lennar by 64.7% in the second quarter. AQR Capital Management LLC now owns 1,165,291 shares of the construction company’s stock valued at $115,771,000 after buying an additional 457,922 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Lennar by 4.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,675,131 shares of the construction company’s stock worth $961,225,000 after purchasing an additional 381,936 shares in the last quarter. Finally, Basswood Capital Management L.L.C. boosted its stake in Lennar by 64.2% during the second quarter. Basswood Capital Management L.L.C. now owns 660,186 shares of the construction company’s stock worth $65,589,000 after buying an additional 258,192 shares during the last quarter. 80.38% of the stock is owned by institutional investors.

Shares of NYSE LEN opened at $108.16 on Friday. Lennar Co. has a 52-week low of $74.70 and a 52-week high of $117.54. The firm has a fifty day moving average of $110.15 and a 200-day moving average of $104.17. The stock has a market capitalization of $33.47 billion, a PE ratio of 7.57, a P/E/G ratio of 1.12 and a beta of 1.51. The company has a quick ratio of 1.41, a current ratio of 9.56 and a debt-to-equity ratio of 0.22.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Wednesday, December 15th. The construction company reported $3.91 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.15 by ($0.24). Lennar had a net margin of 16.33% and a return on equity of 19.45%. During the same quarter in the previous year, the firm earned $2.82 EPS. Equities research analysts expect that Lennar Co. will post 15.6 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 10th. Investors of record on Thursday, January 27th will be issued a dividend of $0.375 per share. This is a positive change from Lennar’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, January 26th. This represents a $1.50 annualized dividend and a dividend yield of 1.39%. Lennar’s payout ratio is presently 7.00%.

A number of analysts recently issued reports on the company. Wedbush raised their price objective on Lennar from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 22nd. The Goldman Sachs Group upgraded shares of Lennar from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $108.00 to $140.00 in a research report on Wednesday, December 1st. BTIG Research boosted their price objective on shares of Lennar from $127.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday, September 22nd. Bank of America assumed coverage on shares of Lennar in a research report on Monday, November 8th. They issued a “buy” rating on the stock. Finally, Barclays boosted their price objective on shares of Lennar from $110.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 15th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Lennar presently has an average rating of “Buy” and an average price target of $125.75.

Lennar Company Profile

Lennar Corp. is a homebuilder company which engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Central, Texas, and West, Financial Services, Multifamily, and Lennar Other. The Homebuilding East, Central, Texas, and West segment constructs and sells homes primarily for first-time, move-up, and active adult homebuyers primarily under the Lennar brand name.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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