Mitsubishi UFJ Trust & Banking Corp Has $24.33 Million Stock Position in Lennar Corporation $LEN

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of Lennar Corporation (NYSE:LEN) by 23.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 193,037 shares of the construction company’s stock after selling 59,486 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Lennar were worth $24,330,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LEN. FNY Investment Advisers LLC acquired a new stake in Lennar during the second quarter worth $33,000. Rexford Capital Inc. bought a new position in shares of Lennar during the 2nd quarter worth about $36,000. Mid American Wealth Advisory Group Inc. bought a new stake in Lennar in the second quarter valued at about $43,000. Harbor Investment Advisory LLC lifted its stake in Lennar by 39.7% during the third quarter. Harbor Investment Advisory LLC now owns 405 shares of the construction company’s stock worth $51,000 after purchasing an additional 115 shares during the period. Finally, Cary Street Partners Financial LLC bought a new stake in shares of Lennar in the 2nd quarter valued at approximately $47,000. 81.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Keefe, Bruyette & Woods decreased their price target on Lennar from $125.00 to $115.00 and set a “market perform” rating on the stock in a research note on Thursday, December 18th. Barclays lowered their target price on shares of Lennar from $98.00 to $88.00 and set an “underweight” rating on the stock in a report on Thursday, December 18th. Zacks Research downgraded shares of Lennar from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. JPMorgan Chase & Co. dropped their price objective on shares of Lennar from $115.00 to $80.00 and set an “underweight” rating for the company in a report on Thursday, December 18th. Finally, Royal Bank Of Canada set a $88.00 target price on Lennar in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and eight have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $106.38.

Lennar Stock Down 1.1%

Shares of NYSE:LEN opened at $110.66 on Tuesday. The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18. The firm has a market cap of $28.22 billion, a P/E ratio of 13.85, a P/E/G ratio of 1.64 and a beta of 1.42. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $144.24. The company’s 50-day moving average price is $116.17 and its two-hundred day moving average price is $121.82.

Lennar (NYSE:LEN) last announced its earnings results on Tuesday, December 16th. The construction company reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.27). The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.17 billion. Lennar had a return on equity of 9.27% and a net margin of 6.08%.Lennar’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.03 earnings per share. As a group, research analysts forecast that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Wednesday, February 4th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, February 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.8%. Lennar’s payout ratio is presently 25.03%.

Lennar 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.