Mutual of America Capital Management LLC Lowers Stock Holdings in Lennar Co. (NYSE:LEN)

Mutual of America Capital Management LLC cut its holdings in Lennar Co. (NYSE:LEN) by 3.6% in the third quarter, Holdings Channel reports. The institutional investor owned 29,780 shares of the construction company’s stock after selling 1,121 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Lennar were worth $5,583,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Oakworth Capital Inc. acquired a new stake in shares of Lennar in the third quarter valued at about $27,000. Wolff Wiese Magana LLC increased its stake in Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after buying an additional 140 shares in the last quarter. GHP Investment Advisors Inc. purchased a new position in shares of Lennar in the third quarter valued at approximately $30,000. New Covenant Trust Company N.A. acquired a new stake in shares of Lennar in the first quarter worth approximately $32,000. Finally, Asset Dedication LLC increased its position in shares of Lennar by 4,225.0% during the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after purchasing an additional 169 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Stock Performance

NYSE LEN opened at $168.76 on Wednesday. The company has a fifty day moving average of $178.87 and a two-hundred day moving average of $169.16. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. Lennar Co. has a 1 year low of $125.17 and a 1 year high of $193.80. The company has a market capitalization of $45.77 billion, a PE ratio of 11.18, a P/E/G ratio of 1.58 and a beta of 1.62.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. During the same period last year, the firm posted $3.91 EPS. Lennar’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, analysts expect that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a $0.50 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 1.19%. Lennar’s dividend payout ratio (DPR) is currently 13.25%.

Insider Transactions at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the transaction, the director now directly owns 23,689 shares in the company, valued at $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 9.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LEN. Evercore ISI lowered their price target on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. Citigroup boosted their target price on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. lifted their price objective on Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. StockNews.com cut Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Finally, Zelman & Associates upgraded Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Lennar has a consensus rating of “Hold” and a consensus target price of $180.56.

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.