Mitsubishi UFJ Asset Management Co. Ltd. Grows Holdings in Lennar Corporation $LEN

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Lennar Corporation (NYSE:LEN) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 466,027 shares of the construction company’s stock after buying an additional 26,117 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Lennar were worth $58,738,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC grew its holdings 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 acquiring an additional 85 shares in the last quarter. Zions Bancorporation National Association UT lifted its position in shares of Lennar by 8.3% during the third quarter. Zions Bancorporation National Association UT now owns 1,127 shares of the construction company’s stock worth $142,000 after purchasing an additional 86 shares during the last quarter. RFG Advisory LLC grew its stake in 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 purchasing an additional 87 shares in the last quarter. UMB Bank n.a. increased its holdings in Lennar by 6.2% in the third quarter. UMB Bank n.a. now owns 1,595 shares of the construction company’s stock valued at $201,000 after buying an additional 93 shares during the last quarter. Finally, ORG Wealth Partners LLC lifted its holdings in Lennar by 5.2% during the 3rd quarter. ORG Wealth Partners LLC now owns 2,072 shares of the construction company’s stock worth $261,000 after buying an additional 102 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LEN shares. UBS Group downgraded Lennar from a “buy” rating to a “neutral” rating and lowered their price target for the company from $137.00 to $122.00 in a report on Tuesday, January 6th. JPMorgan Chase & Co. lowered their target price on shares of Lennar from $115.00 to $80.00 and set an “underweight” rating for the company in a research note on Thursday, December 18th. Barclays reduced their price target on shares of Lennar from $98.00 to $88.00 and set an “underweight” rating on the stock in a research report on Thursday, December 18th. Argus raised shares of Lennar to a “strong-buy” rating in a research report on Friday, January 16th. Finally, Zacks Research cut shares of Lennar from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and eight have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $106.38.

Lennar Price Performance

NYSE LEN opened at $114.15 on Friday. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $144.24. The firm has a market capitalization of $28.19 billion, a PE ratio of 14.29, a P/E/G ratio of 1.63 and a beta of 1.44. The company’s 50 day simple moving average is $113.12 and its 200 day simple moving average is $121.81. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.89 and a quick ratio of 1.36.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Tuesday, December 16th. The construction company reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.27). Lennar had a net margin of 6.08% and a return on equity of 9.27%. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.17 billion. During the same period in the previous year, the business posted $4.03 earnings per share. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, equities research analysts forecast that Lennar Corporation will post 12.48 EPS 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 1.8%. The ex-dividend date of this dividend was Wednesday, February 4th. Lennar’s payout ratio is presently 25.03%.

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.