Mitsubishi UFJ Asset Management Co. Ltd. Purchases 58,134 Shares of Lennar Corporation (NYSE:LEN)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Lennar Corporation by 15.5% during Q1, owning approximately 0.16% of the company, valued at $49.8 million.
• Multiple analysts recently lowered their price targets for Lennar, with the average target set at $128.85 and an overall average rating of "Hold."
• Lennar reported a quarterly earnings per share of $1.90, missing estimates, while also announcing a quarterly dividend of $0.50 per share, reflecting a yield of 1.7%.

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Lennar Corporation (NYSE:LEN - Free Report) by 15.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 433,672 shares of the construction company's stock after purchasing an additional 58,134 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Lennar worth $49,777,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Castlekeep Investment Advisors LLC bought a new position in shares of Lennar in the 4th quarter worth about $218,533,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Lennar in the 1st quarter worth about $41,788,000. AustralianSuper Pty Ltd acquired a new stake in shares of Lennar in the 1st quarter worth about $37,055,000. D1 Capital Partners L.P. increased its holdings in shares of Lennar by 67.3% in the 4th quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company's stock worth $88,116,000 after acquiring an additional 270,433 shares during the period. Finally, Man Group plc increased its holdings in shares of Lennar by 112.5% in the 4th quarter. Man Group plc now owns 506,722 shares of the construction company's stock worth $69,102,000 after acquiring an additional 268,209 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LEN has been the topic of a number of analyst reports. Evercore ISI dropped their price objective on shares of Lennar from $131.00 to $114.00 and set an "in-line" rating on the stock in a report on Wednesday, June 18th. Wedbush reaffirmed a "neutral" rating and issued a $130.00 price objective on shares of Lennar in a report on Wednesday, June 18th. Keefe, Bruyette & Woods lowered their target price on shares of Lennar from $128.00 to $114.00 and set a "market perform" rating on the stock in a research note on Friday, June 20th. Zelman & Associates cut shares of Lennar from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 18th. Finally, UBS Group lowered their target price on shares of Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a research note on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lennar presently has an average rating of "Hold" and an average target price of $128.85.

Lennar Price Performance

Shares of LEN traded up $2.14 during mid-day trading on Tuesday, hitting $122.67. The company's stock had a trading volume of 149,985 shares, compared to its average volume of 3,131,345. The firm has a 50-day moving average price of $112.32 and a 200 day moving average price of $114.10. The stock has a market capitalization of $31.77 billion, a price-to-earnings ratio of 10.14, a PEG ratio of 5.13 and a beta of 1.29. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $193.80.

Lennar (NYSE:LEN - Get Free Report) last announced its earnings results on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.04). Lennar had a return on equity of 12.73% and a net margin of 9.20%. The firm had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.21 billion. During the same quarter in the previous year, the business earned $3.45 earnings per share. The business's quarterly revenue was down 4.4% compared to the same quarter last year. On average, research analysts predict that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.6%. Lennar's dividend payout ratio (DPR) is currently 16.54%.

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.