E. Ohman J or Asset Management AB Buys Shares of 5,806 Lennar Corporation $LEN

E. Ohman J or Asset Management AB purchased a new position in shares of Lennar Corporation (NYSE:LEN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,806 shares of the construction company’s stock, valued at approximately $597,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Lazard Asset Management LLC raised its stake in Lennar by 7.1% during the 2nd quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock worth $141,000 after buying an additional 85 shares during the period. Zions Bancorporation National Association UT increased its holdings in shares of Lennar by 8.3% in the third quarter. Zions Bancorporation National Association UT now owns 1,127 shares of the construction company’s stock worth $142,000 after acquiring an additional 86 shares in the last quarter. RFG Advisory LLC increased its holdings in shares of Lennar by 2.1% in the third quarter. RFG Advisory LLC now owns 4,255 shares of the construction company’s stock worth $536,000 after acquiring an additional 87 shares in the last quarter. UMB Bank n.a. raised its position in shares of Lennar by 6.2% during the third quarter. UMB Bank n.a. now owns 1,595 shares of the construction company’s stock worth $201,000 after purchasing an additional 93 shares during the period. Finally, ORG Wealth Partners LLC lifted its holdings in shares of Lennar by 5.2% during the 3rd quarter. ORG Wealth Partners LLC now owns 2,072 shares of the construction company’s stock valued at $261,000 after purchasing an additional 102 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LEN shares. Zacks Research raised Lennar from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Wall Street Zen lowered shares of Lennar from a “hold” rating to a “sell” rating in a research note on Monday, December 8th. JPMorgan Chase & Co. reduced their price target on shares of Lennar from $115.00 to $80.00 and set an “underweight” rating for the company in a report on Thursday, December 18th. Bank of America restated an “underperform” rating and set a $95.00 price objective (down from $125.00) on shares of Lennar in a report on Thursday, December 18th. Finally, Barclays cut their price objective on shares of Lennar from $88.00 to $85.00 and set an “underweight” rating on the stock in a research report on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Hold rating and eight have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $102.07.

Lennar Price Performance

Shares of NYSE LEN opened at $92.03 on Thursday. Lennar Corporation has a fifty-two week low of $89.63 and a fifty-two week high of $144.24. The stock has a market capitalization of $22.73 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.96 and a beta of 1.43. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97. The business has a 50-day moving average of $109.31 and a 200-day moving average of $117.32.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). Lennar had a net margin of 5.39% and a return on equity of 7.80%. The company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the business earned $2.14 earnings per share. The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. As a group, sell-side analysts predict that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Wednesday, February 4th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Wednesday, February 4th. Lennar’s payout ratio is presently 28.74%.

Lennar Company 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.