Resona Asset Management Co. Ltd. Purchases 5,722 Shares of Lennar Corporation $LEN

Resona Asset Management Co. Ltd. boosted its position in shares of Lennar Corporation (NYSE:LEN) by 7.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 86,248 shares of the construction company’s stock after purchasing an additional 5,722 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Lennar were worth $9,535,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LEN. Brighton Jones LLC raised its holdings in Lennar by 27.9% in the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after acquiring an additional 377 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Lennar by 5.4% in the 1st quarter. Brown Advisory Inc. now owns 6,965 shares of the construction company’s stock worth $799,000 after purchasing an additional 354 shares in the last quarter. Greenleaf Trust raised its stake in shares of Lennar by 4.0% in the first quarter. Greenleaf Trust now owns 5,427 shares of the construction company’s stock worth $623,000 after purchasing an additional 207 shares during the last quarter. Fidelis Capital Partners LLC lifted its holdings in shares of Lennar by 8.8% during the first quarter. Fidelis Capital Partners LLC now owns 2,672 shares of the construction company’s stock valued at $288,000 after purchasing an additional 215 shares in the last quarter. Finally, Secured Retirement Advisors LLC purchased a new stake in shares of Lennar during the first quarter valued at $926,000. Institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on LEN shares. Wall Street Zen upgraded shares of Lennar from a “sell” rating to a “hold” rating in a research note on Saturday. Citigroup restated an “outperform” rating on shares of Lennar in a report on Monday, September 22nd. JPMorgan Chase & Co. cut their target price on shares of Lennar from $97.00 to $92.00 and set a “neutral” rating for the company in a research report on Monday, September 22nd. Evercore ISI cut their price objective on Lennar from $118.00 to $114.00 and set an “in-line” rating for the company in a report on Tuesday, October 7th. Finally, Royal Bank Of Canada upped their price objective on Lennar from $98.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $121.75.

Lennar Trading Up 0.8%

Shares of Lennar stock opened at $121.27 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. The stock has a market capitalization of $30.93 billion, a PE ratio of 11.98, a P/E/G ratio of 5.78 and a beta of 1.33. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $180.12. The company’s fifty day simple moving average is $127.66 and its 200-day simple moving average is $118.75.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.15. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The company had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $9.01 billion. During the same period in the previous year, the business earned $3.90 earnings per share. Lennar’s quarterly revenue was down 6.4% compared to the same quarter last year. As a group, equities analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Friday, October 10th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, October 10th. Lennar’s dividend payout ratio is currently 19.76%.

Lennar Company Profile

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.