67,365 Shares of Lennar Corporation $LEN Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new stake in Lennar Corporation (NYSE:LEN) in the third quarter, HoldingsChannel reports. The fund bought 67,365 shares of the construction company’s stock, valued at approximately $5,496,000.

Several other large investors also recently modified their holdings of the business. Janus Henderson Group PLC lifted its holdings in shares of Lennar by 19.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,546,970 shares of the construction company’s stock valued at $221,176,000 after purchasing an additional 419,745 shares in the last quarter. Swiss National Bank increased its stake in Lennar by 4.8% during the 1st quarter. Swiss National Bank now owns 601,468 shares of the construction company’s stock worth $52,231,000 after purchasing an additional 27,500 shares in the last quarter. Nan Shan Life Insurance Co. Ltd. increased its stake in Lennar by 6,292.5% during the 2nd quarter. Nan Shan Life Insurance Co. Ltd. now owns 328,000 shares of the construction company’s stock worth $29,681,000 after purchasing an additional 322,869 shares in the last quarter. California Public Employees Retirement System raised its holdings in Lennar by 2.3% during the 1st quarter. California Public Employees Retirement System now owns 313,354 shares of the construction company’s stock worth $27,212,000 after buying an additional 7,103 shares during the period. Finally, Empowered Funds LLC raised its holdings in Lennar by 322.4% during the 1st quarter. Empowered Funds LLC now owns 309,880 shares of the construction company’s stock worth $26,910,000 after buying an additional 236,524 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Lennar Stock Down 0.5%

Shares of Lennar stock opened at $91.73 on Friday. The business’s 50 day simple moving average is $81.30 and its 200 day simple moving average is $90.97. Lennar Corporation has a 52-week low of $71.78 and a 52-week high of $133.76. The firm has a market cap of $21.82 billion, a PE ratio of 16.92, a P/E/G ratio of 3.48 and a beta of 1.36. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.69 and a current ratio of 4.94.

Lennar (NYSE:LEN) last released its earnings results on Wednesday, September 16th. The construction company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.06). Lennar had a net margin of 4.09% and a return on equity of 6.15%. The firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $8.32 billion. During the same quarter in the previous year, the firm posted $2.00 EPS. The company’s revenue was down 8.7% on a year-over-year basis. On average, analysts predict that Lennar Corporation will post 4.86 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 22nd. Stockholders of record on Wednesday, October 7th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, October 7th. Lennar’s payout ratio is currently 37.81%.

Insider Activity at Lennar

In other Lennar news, major shareholder Berkshire Hathaway Inc bought 1,708,095 shares of Lennar stock in a transaction that occurred on Friday, October 2nd. The stock was acquired at an average price of $79.44 per share, for a total transaction of $135,691,066.80. Following the completion of the acquisition, the insider owned 28,438,045 shares of the company’s stock, valued at $2,259,118,294.80. This trade represents a 6.39% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 7,502,276 shares of company stock valued at $595,303,287 over the last 90 days. Insiders own 10.05% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on LEN shares. Benchmark raised shares of Lennar to a “hold” rating in a research note on Thursday, September 3rd. Morgan Stanley lowered their price objective on shares of Lennar from $65.00 to $58.00 and set an “underweight” rating for the company in a research report on Tuesday. Citizens Jmp restated a “hold” rating on shares of Lennar in a report on Thursday, September 17th. Truist Financial cut their price objective on shares of Lennar from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Wednesday, September 16th. Finally, Seaport Research Partners reduced their target price on shares of Lennar from $74.00 to $70.00 and set a “sell” rating for the company in a research note on Monday, September 21st. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and eleven have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and a consensus price target of $78.87.

About Lennar

Lennar Corporation (NYSE:LEN) is a homebuilding and real estate company that develops, constructs, and sells primarily single-family homes. The company offers homes across a range of price points and designs, including residences for first-time, move-up, luxury, and active-adult buyers. Its operations also include land acquisition and development, allowing Lennar to prepare communities and lots for residential construction.

In addition to homebuilding, Lennar develops multifamily rental properties and provides related financial services.