Lennar Co. (NYSE:LEN) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of Lennar Co. (NYSE:LEN) by 4.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 50,279 shares of the construction company’s stock after selling 2,097 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Lennar were worth $7,494,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Lennar during the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. acquired a new position in Lennar during the third quarter worth $28,000. BluePath Capital Management LLC acquired a new stake in shares of Lennar in the 3rd quarter worth $29,000. Coppell Advisory Solutions LLC purchased a new position in shares of Lennar during the 2nd quarter worth $46,000. Finally, Itau Unibanco Holding S.A. boosted its position in shares of Lennar by 34.3% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 497 shares of the construction company’s stock valued at $56,000 after acquiring an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

Shares of LEN stock opened at $159.90 on Friday. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $172.59. The firm has a 50 day moving average of $159.55 and a two-hundred day moving average of $141.10. The company has a quick ratio of 1.27, a current ratio of 5.47 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $44.51 billion, a PE ratio of 11.21, a P/E/G ratio of 1.49 and a beta of 1.53.

Lennar (NYSE:LEN) last released its earnings results on Thursday, March 14th. The construction company reported $2.57 EPS for the quarter, topping the consensus estimate of $2.21 by $0.36. The firm had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.39 billion. Lennar had a return on equity of 15.90% and a net margin of 11.59%. Lennar’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.12 EPS. On average, research analysts predict that Lennar Co. will post 14.46 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.25%. Lennar’s dividend payout ratio is currently 14.02%.

Insider Transactions at Lennar

In other Lennar news, Director Amy Banse purchased 1,575 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were bought at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the purchase, the director now directly owns 11,859 shares in the company, valued at $1,861,863. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on LEN shares. Oppenheimer reaffirmed a “market perform” rating on shares of Lennar in a research note on Friday, March 15th. Raymond James increased their price objective on Lennar from $150.00 to $165.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 19th. Royal Bank of Canada reduced their target price on Lennar from $137.00 to $136.00 and set an “underweight” rating on the stock in a research report on Thursday, March 14th. The Goldman Sachs Group increased their price target on Lennar from $138.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, December 18th. Finally, Citigroup upped their target price on shares of Lennar from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.88.

Lennar 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.