Mitsubishi UFJ Trust & Banking Corp Trims Position in Lennar Co. (NYSE:LEN)

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Lennar Co. (NYSE:LEN) by 3.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 284,554 shares of the construction company’s stock after selling 9,121 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.11% of Lennar worth $38,805,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Centaurus Financial Inc. boosted its stake in shares of Lennar by 2.5% in the third quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company’s stock worth $551,000 after acquiring an additional 71 shares during the period. Armstrong Advisory Group Inc. boosted its stake in Lennar by 69.4% in the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after purchasing an additional 75 shares during the period. Wolff Wiese Magana LLC grew its holdings in Lennar by 51.0% during the 4th quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company’s stock valued at $32,000 after buying an additional 79 shares in the last quarter. Howard Capital Management Inc. raised its position in shares of Lennar by 0.3% during the fourth quarter. Howard Capital Management Inc. now owns 28,836 shares of the construction company’s stock valued at $3,932,000 after buying an additional 81 shares during the last quarter. Finally, Premier Path Wealth Partners LLC boosted its position in shares of Lennar by 2.1% during the fourth quarter. Premier Path Wealth Partners LLC now owns 4,284 shares of the construction company’s stock worth $584,000 after acquiring an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

LEN has been the topic of a number of research reports. Evercore ISI reiterated an “in-line” rating and issued a $131.00 price target (down from $159.00) on shares of Lennar in a report on Monday. Citigroup decreased their target price on Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Bank of America cut their price target on Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, March 18th. Wedbush reaffirmed a “neutral” rating and set a $158.00 price objective on shares of Lennar in a report on Monday, March 17th. Finally, UBS Group cut their target price on shares of Lennar from $183.00 to $164.00 and set a “buy” rating for the company in a report on Monday. Fifteen investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $151.07.

Lennar Stock Performance

Shares of LEN stock opened at $117.90 on Thursday. The firm has a market cap of $31.31 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 1.24 and a beta of 1.69. Lennar Co. has a 52-week low of $111.26 and a 52-week high of $187.61. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $125.06 and its 200 day moving average is $152.03.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, beating the consensus estimate of $1.70 by $0.44. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.44 billion. During the same period in the prior year, the firm posted $2.57 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts anticipate that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.70%. Lennar’s dividend payout ratio is currently 14.57%.

Lennar 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.