Marsico Capital Management LLC Sells 145,175 Shares of Lennar Co. (NYSE:LEN)

Marsico Capital Management LLC reduced its holdings in shares of Lennar Co. (NYSE:LEN) by 78.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,008 shares of the construction company’s stock after selling 145,175 shares during the period. Marsico Capital Management LLC’s holdings in Lennar were worth $5,846,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB increased its position in Lennar by 3.6% during the 1st quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock valued at $303,585,000 after buying an additional 60,713 shares in the last quarter. Bamco Inc. NY increased its holdings in shares of Lennar by 3.8% during the first quarter. Bamco Inc. NY now owns 648,867 shares of the construction company’s stock valued at $111,592,000 after acquiring an additional 23,483 shares in the last quarter. TCW Group Inc. raised its position in shares of Lennar by 15.9% in the 2nd quarter. TCW Group Inc. now owns 610,549 shares of the construction company’s stock worth $91,503,000 after purchasing an additional 83,896 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Lennar by 157.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock valued at $98,889,000 after purchasing an additional 351,698 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in Lennar during the 1st quarter valued at about $61,807,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on LEN shares. Citigroup restated a “neutral” rating and issued a $164.00 price objective (down from $174.00) on shares of Lennar in a report on Tuesday, July 2nd. The Goldman Sachs Group cut Lennar from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $180.00 to $174.00 in a research report on Monday, July 22nd. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. JMP Securities reiterated a “market outperform” rating and issued a $170.00 price target on shares of Lennar in a research note on Thursday, June 20th. Finally, Wedbush restated a “neutral” rating and set a $144.00 price objective on shares of Lennar in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $172.69.

Lennar Trading Up 1.2 %

Lennar stock opened at $189.40 on Wednesday. The firm has a market capitalization of $52.01 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 1.61 and a beta of 1.61. Lennar Co. has a 12-month low of $102.90 and a 12-month high of $189.43. The firm has a 50 day moving average of $174.49 and a 200 day moving average of $163.43. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Monday, June 17th. The construction company reported $3.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $0.18. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The business had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.57 billion. As a group, research analysts predict that Lennar Co. will post 14.16 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Friday, July 5th. Lennar’s payout ratio is currently 13.60%.

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.