Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Holdings in Lennar Co. (NYSE:LEN)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Lennar Co. (NYSE:LEN) by 6.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 375,538 shares of the construction company’s stock after buying an additional 22,946 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Lennar were worth $51,028,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Ausdal Financial Partners Inc. bought a new position in shares of Lennar during the fourth quarter valued at about $244,000. TrueMark Investments LLC bought a new position in shares of Lennar during the 4th quarter worth approximately $1,331,000. EFG Asset Management North America Corp. boosted its stake in shares of Lennar by 9.8% in the 4th quarter. EFG Asset Management North America Corp. now owns 15,376 shares of the construction company’s stock worth $2,097,000 after buying an additional 1,372 shares during the last quarter. Sound Shore Management Inc. CT grew its holdings in shares of Lennar by 12.2% in the fourth quarter. Sound Shore Management Inc. CT now owns 396,289 shares of the construction company’s stock valued at $54,042,000 after acquiring an additional 42,949 shares in the last quarter. Finally, Community Bank N.A. lifted its holdings in Lennar by 13.2% during the fourth quarter. Community Bank N.A. now owns 5,055 shares of the construction company’s stock worth $689,000 after acquiring an additional 590 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Lennar Stock Performance

NYSE LEN opened at $113.83 on Friday. The company’s 50 day simple moving average is $124.05 and its two-hundred day simple moving average is $151.33. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. Lennar Co. has a 1 year low of $111.26 and a 1 year high of $187.61. The stock has a market capitalization of $30.22 billion, a PE ratio of 7.94, a P/E/G ratio of 1.24 and a beta of 1.69.

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

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar’s dividend payout ratio is currently 14.57%.

Analyst Ratings Changes

A number of research firms have recently commented on LEN. BTIG Research cut Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Evercore ISI reaffirmed an “in-line” rating and issued a $131.00 price objective (down previously from $159.00) on shares of Lennar in a research report on Monday, March 24th. The Goldman Sachs Group reduced their target price on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating for the company in a research report on Tuesday. Wells Fargo & Company reduced their price objective on Lennar from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Tuesday, March 18th. Finally, Seaport Res Ptn upgraded Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lennar currently has an average rating of “Hold” and a consensus target price of $151.07.

About Lennar

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.