Mitsubishi UFJ Asset Management Co. Ltd. Sells 17,353 Shares of Lennar Corporation $LEN

Key Points

• Mitsubishi UFJ Asset Management trimmed its Lennar stake by 3.7% in the fourth quarter, selling 17,353 shares and ending with 448,674 shares valued at about $46.8 million.
• Analysts have turned more cautious on Lennar, with several price target cuts and a consensus rating of "Reduce" alongside an average target price of $99.87.
• Lennar recently reported weaker-than-expected quarterly results, missing EPS and revenue estimates, though it also paid a $0.50 quarterly dividend for a 2.3% annualized yield.

Mitsubishi UFJ Asset Management Co. Ltd. lessened its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 3.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 448,674 shares of the construction company's stock after selling 17,353 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of Lennar worth $46,761,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of LEN. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Lennar by 14.6% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company's stock worth $596,504,000 after acquiring an additional 603,004 shares during the period. Viking Global Investors LP boosted its stake in shares of Lennar by 86.7% in the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company's stock worth $279,135,000 after acquiring an additional 1,172,068 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Lennar by 7.0% in the third quarter. Envestnet Asset Management Inc. now owns 1,154,892 shares of the construction company's stock worth $145,563,000 after acquiring an additional 75,574 shares during the period. California Public Employees Retirement System boosted its stake in shares of Lennar by 41.0% in the third quarter. California Public Employees Retirement System now owns 578,927 shares of the construction company's stock worth $72,968,000 after acquiring an additional 168,196 shares during the period. Finally, Caisse de depot et placement du Quebec boosted its stake in shares of Lennar by 3.7% in the third quarter. Caisse de depot et placement du Quebec now owns 555,305 shares of the construction company's stock worth $69,991,000 after acquiring an additional 19,566 shares during the period. Institutional investors own 81.10% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on LEN shares. Truist Financial dropped their price target on Lennar from $95.00 to $90.00 and set a "hold" rating for the company in a research note on Tuesday, March 31st. Weiss Ratings lowered Lennar from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, March 16th. Citigroup dropped their price target on Lennar from $113.00 to $104.00 and set a "neutral" rating for the company in a research note on Tuesday, March 17th. Argus dropped their price target on Lennar from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Wednesday, April 15th. Finally, Seaport Research Partners reissued a "sell" rating and set a $74.00 price target (down from $140.00) on shares of Lennar in a research note on Tuesday, April 7th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $99.87.

Lennar Price Performance

NYSE:LEN opened at $88.32 on Friday. The firm has a market capitalization of $21.81 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 1.94 and a beta of 1.41. Lennar Corporation has a 1 year low of $83.03 and a 1 year high of $144.24. The business has a 50 day simple moving average of $94.02 and a 200-day simple moving average of $109.47. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.90 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. Lennar's revenue for the quarter was down 13.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.14 earnings per share. Equities analysts forecast that Lennar Corporation will post 5.87 EPS for the current year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Wednesday, April 22nd. Lennar's dividend payout ratio (DPR) is presently 28.74%.

Lennar Company Profile

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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