Lennar Corporation $LEN Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 12.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 29,339 shares of the construction company's stock after acquiring an additional 3,299 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Lennar were worth $3,245,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in LEN. Kingstone Capital Partners Texas LLC acquired a new position in Lennar during the second quarter worth $424,950,000. The Manufacturers Life Insurance Company raised its position in Lennar by 45.4% during the first quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company's stock worth $1,020,866,000 after acquiring an additional 2,777,567 shares during the period. Eminence Capital LP raised its position in Lennar by 130.8% during the first quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company's stock worth $181,523,000 after acquiring an additional 896,264 shares during the period. Brave Warrior Advisors LLC raised its position in Lennar by 23.4% during the first quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company's stock worth $251,323,000 after acquiring an additional 415,218 shares during the period. Finally, ANTIPODES PARTNERS Ltd acquired a new position in Lennar during the first quarter worth $41,788,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Trading Down 3.4%

Shares of LEN opened at $122.14 on Wednesday. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $189.65. The firm has a 50-day moving average price of $129.04 and a 200 day moving average price of $116.45. The firm has a market capitalization of $31.63 billion, a P/E ratio of 12.07, a P/E/G ratio of 5.66 and a beta of 1.37.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings data on Thursday, September 18th. The construction company reported $2.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.14 by $0.15. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The firm had revenue of $8.81 billion during the quarter, compared to analyst estimates of $9.01 billion. During the same quarter in the prior year, the firm posted $3.90 earnings per share. Lennar's quarterly revenue was down 6.4% on a year-over-year basis. Sell-side analysts forecast that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, October 10th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, October 10th. Lennar's dividend payout ratio (DPR) is 19.76%.

Analysts Set New Price Targets

LEN has been the subject of a number of research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Lennar in a report on Saturday, September 27th. Wall Street Zen lowered shares of Lennar from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Evercore ISI dropped their target price on shares of Lennar from $118.00 to $114.00 and set an "in-line" rating for the company in a report on Tuesday. Zelman & Associates lowered shares of Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. Finally, JMP Securities upped their target price on shares of Lennar from $130.00 to $140.00 and gave the stock a "market outperform" rating in a report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $123.42.

Lennar Company 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.

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