Mitsubishi UFJ Asset Management Co. Ltd. Sells 17,353 Shares of Lennar Corporation $LEN

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its holdings in Lennar Corporation (NYSE:LEN) by 3.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 448,674 shares of the construction company’s stock after selling 17,353 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Lennar were worth $46,761,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of LEN. Viking Global Investors LP raised its holdings in shares of Lennar by 86.7% in the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock worth $279,135,000 after buying an additional 1,172,068 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Lennar by 14.6% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock worth $596,504,000 after buying an additional 603,004 shares during the period. Todd Asset Management LLC purchased a new stake in shares of Lennar in the third quarter worth approximately $26,371,000. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Lennar by 319.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 274,173 shares of the construction company’s stock worth $34,557,000 after buying an additional 208,800 shares during the period. Finally, Duquesne Family Office LLC raised its holdings in shares of Lennar by 210.8% in the third quarter. Duquesne Family Office LLC now owns 279,424 shares of the construction company’s stock worth $35,219,000 after buying an additional 189,524 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Trading Up 0.7%

LEN opened at $88.32 on Friday. The stock’s fifty day moving average is $94.02 and its two-hundred day moving average is $109.47. The company has a market capitalization of $21.81 billion, a P/E ratio of 12.69, a PEG ratio of 1.94 and a beta of 1.41. Lennar Corporation has a 52 week low of $83.03 and a 52 week high of $144.24. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, March 12th. The construction company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.07). The firm had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.14 earnings per share. Analysts forecast that Lennar Corporation will post 5.87 earnings per share for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, April 22nd. Lennar’s dividend payout ratio (DPR) is 28.74%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Weiss Ratings downgraded Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 16th. Truist Financial reduced their price target on Lennar from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Tuesday, March 31st. Zacks Research upgraded Lennar from a “strong sell” rating to a “hold” rating in a report on Thursday, March 19th. Seaport Research Partners restated a “sell” rating and set a $74.00 price objective (down from $140.00) on shares of Lennar in a report on Tuesday, April 7th. Finally, Keefe, Bruyette & Woods reduced their price objective on Lennar from $105.00 to $97.00 and set a “market perform” rating on the stock in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and eight have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $99.87.

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.