Lennar Corporation $LEN Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp cut its stake in Lennar by 54.1% in Q4, selling 104,434 shares and leaving it with 88,603 shares valued at about $9.11 million.
• Analyst sentiment has weakened to a consensus "Reduce" rating with an average price target of $99.87 after multiple price-target cuts and downgrades from firms including Seaport, Wells Fargo, Goldman Sachs and Truist.
• Lennar recently missed quarterly EPS ($0.88 vs. $0.95 expected) with revenue down 13.3% year‑over‑year, and the company announced a quarterly dividend of $0.50 per share (annualized yield ~2.3%).

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Lennar Corporation (NYSE:LEN - Free Report) by 54.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 88,603 shares of the construction company's stock after selling 104,434 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Lennar were worth $9,108,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of LEN. Lazard Asset Management LLC boosted its stake in Lennar by 7.1% in the 2nd quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company's stock worth $141,000 after purchasing an additional 85 shares in the last quarter. Zions Bancorporation National Association UT lifted its stake in shares of Lennar by 8.3% during the third quarter. Zions Bancorporation National Association UT now owns 1,127 shares of the construction company's stock worth $142,000 after buying an additional 86 shares during the period. RFG Advisory LLC grew its holdings in shares of Lennar by 2.1% during the third quarter. RFG Advisory LLC now owns 4,255 shares of the construction company's stock valued at $536,000 after buying an additional 87 shares during the last quarter. UMB Bank n.a. increased its position in shares of Lennar by 6.2% in the 3rd quarter. UMB Bank n.a. now owns 1,595 shares of the construction company's stock valued at $201,000 after acquiring an additional 93 shares during the period. Finally, ORG Wealth Partners LLC lifted its position in Lennar by 5.2% during the 3rd quarter. ORG Wealth Partners LLC now owns 2,072 shares of the construction company's stock worth $261,000 after acquiring an additional 102 shares during the period. Institutional investors and hedge funds own 81.10% of the company's stock.

Analysts Set New Price Targets

LEN has been the topic of a number of research reports. Seaport Research Partners reissued a "sell" rating and issued a $74.00 price objective (down from $140.00) on shares of Lennar in a report on Tuesday, April 7th. Royal Bank Of Canada set a $88.00 price target on shares of Lennar in a report on Friday, January 9th. Truist Financial decreased their price objective on shares of Lennar from $95.00 to $90.00 and set a "hold" rating for the company in a research note on Tuesday, March 31st. Wells Fargo & Company dropped their price objective on shares of Lennar from $100.00 to $90.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 8th. Finally, The Goldman Sachs Group reduced their target price on shares of Lennar from $110.00 to $100.00 and set a "neutral" rating for the company in a report on Friday, April 10th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat.com, Lennar presently has a consensus rating of "Reduce" and an average price target of $99.87.

Lennar Trading Down 1.9%

Lennar stock opened at $88.55 on Friday. The firm has a market cap of $21.87 billion, a PE ratio of 12.72, a P/E/G ratio of 1.94 and a beta of 1.41. Lennar Corporation has a 12 month low of $83.03 and a 12 month high of $144.24. The stock's 50 day simple moving average is $95.71 and its two-hundred day simple moving average is $110.30. The company has a current ratio of 4.77, a quick ratio of 0.97 and a debt-to-equity ratio of 0.18.

Lennar (NYSE:LEN - Get Free Report) last posted its earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.07). The firm had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.90 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. The business's revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.14 earnings per share. Analysts anticipate that Lennar Corporation will post 5.91 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, April 22nd. This represents a $2.00 dividend on an annualized basis and a dividend 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.

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