Dai ichi Life Insurance Company Ltd Sells 2,186 Shares of Lennar Co. (NYSE:LEN)

Dai ichi Life Insurance Company Ltd reduced its holdings in shares of Lennar Co. (NYSE:LEN) by 24.5% in the third quarter, Holdings Channel reports. The institutional investor owned 6,744 shares of the construction company’s stock after selling 2,186 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Lennar were worth $1,264,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in LEN. Boston Partners lifted its holdings in Lennar by 21.5% during the first quarter. Boston Partners now owns 23,775 shares of the construction company’s stock worth $4,089,000 after acquiring an additional 4,207 shares during the period. International Assets Investment Management LLC grew its position in Lennar by 23,048.0% during the third quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock worth $28,209,000 after buying an additional 149,812 shares in the last quarter. Fulton Bank N.A. purchased a new stake in Lennar in the second quarter valued at approximately $477,000. Smead Capital Management Inc. raised its position in shares of Lennar by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after buying an additional 89,896 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in Lennar by 91.1% during the first quarter. Tidal Investments LLC now owns 14,318 shares of the construction company’s stock worth $2,456,000 after purchasing an additional 6,824 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LEN shares. Wedbush reiterated a “neutral” rating and set a $144.00 price target on shares of Lennar in a research report on Friday, September 20th. Wells Fargo & Company lowered their price target on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Royal Bank of Canada increased their target price on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a report on Monday, September 23rd. Barclays boosted their price objective on Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, Bank Of America (Bofa) increased their price target on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $184.29.

Insider Activity

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the transaction, the director now owns 23,689 shares in the company, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.36% of the company’s stock.

Lennar Price Performance

Shares of NYSE:LEN opened at $174.16 on Thursday. The company has a market capitalization of $47.24 billion, a PE ratio of 11.53, a PEG ratio of 1.67 and a beta of 1.62. The business has a fifty day moving average price of $177.30 and a 200-day moving average price of $169.56. Lennar Co. has a 1-year low of $125.17 and a 1-year high of $193.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.28. The firm had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.91 earnings per share. As a group, equities analysts expect that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio is currently 13.25%.

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.