Lennar Corporation $LEN Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. decreased its holdings in shares of Lennar Corporation (NYSE:LEN) by 12.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,912 shares of the construction company’s stock after selling 9,903 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Lennar were worth $7,199,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cibc World Market Inc. raised its position in shares of Lennar by 993.0% in the 3rd quarter. Cibc World Market Inc. now owns 129,487 shares of the construction company’s stock worth $16,321,000 after buying an additional 117,640 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Lennar by 5.9% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 466,027 shares of the construction company’s stock worth $58,738,000 after buying an additional 26,117 shares during the period. Boothbay Fund Management LLC raised its position in shares of Lennar by 201.1% in the 3rd quarter. Boothbay Fund Management LLC now owns 24,004 shares of the construction company’s stock worth $3,025,000 after buying an additional 16,031 shares during the period. Tounjian Advisory Partners LLC purchased a new position in shares of Lennar in the 4th quarter worth $2,599,000. Finally, Coronation Fund Managers Ltd. purchased a new position in shares of Lennar in the 3rd quarter worth $14,160,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LEN shares. Citigroup cut their target price on Lennar from $113.00 to $104.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 17th. Keefe, Bruyette & Woods cut their target price on Lennar from $105.00 to $97.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 1st. Weiss Ratings lowered Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 16th. Zacks Research raised Lennar from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. Finally, Seaport Research Partners reaffirmed a “sell” rating and issued a $74.00 target price (down from $140.00) on shares of Lennar in a research report on Tuesday, April 7th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and eight have assigned a Sell rating to the stock. According to MarketBeat.com, Lennar presently has an average rating of “Reduce” and a consensus price target of $99.87.

Lennar Trading Up 1.8%

NYSE:LEN opened at $88.87 on Friday. The business’s 50-day moving average is $89.82 and its two-hundred day moving average is $106.59. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97. Lennar Corporation has a 12 month low of $81.18 and a 12 month high of $144.24. The firm has a market capitalization of $21.95 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 1.93 and a beta of 1.41.

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). Lennar had a net margin of 5.39% and a return on equity of 7.80%. The company had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period last year, the business earned $2.14 earnings per share. The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. Research analysts predict that Lennar Corporation will post 5.87 earnings per share for the current fiscal year.

Lennar Dividend Announcement

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

About Lennar

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.