FUKOKU MUTUAL LIFE INSURANCE Co Grows Stock Position in Lennar Co. (NYSE:LEN)

FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in Lennar Co. (NYSE:LEN) by 54.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,146 shares of the construction company’s stock after purchasing an additional 1,110 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Lennar were worth $590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. D1 Capital Partners L.P. raised its holdings in shares of Lennar by 428.9% in the 2nd quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock valued at $362,685,000 after purchasing an additional 1,962,447 shares in the last quarter. Pacer Advisors Inc. raised its stake in Lennar by 15.1% during the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock valued at $452,886,000 after acquiring an additional 396,951 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Lennar during the 1st quarter worth approximately $61,807,000. KBC Group NV increased its stake in Lennar by 258.3% in the 3rd quarter. KBC Group NV now owns 494,848 shares of the construction company’s stock valued at $92,774,000 after buying an additional 356,731 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Lennar by 157.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock worth $98,889,000 after acquiring an additional 351,698 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Activity

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction on 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 completion of the transaction, the director now owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 9.36% of the company’s stock.

Lennar Trading Up 2.1 %

NYSE LEN opened at $169.79 on Friday. 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 Co. has a 12 month low of $125.17 and a 12 month high of $193.80. The company’s fifty day moving average price is $179.72 and its two-hundred day moving average price is $168.65. The company has a market capitalization of $46.05 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 1.56 and a beta of 1.62.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. The company had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. Lennar’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.91 EPS. As a group, research analysts predict that Lennar Co. will post 14.18 earnings per share 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 given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.18%. Lennar’s payout ratio is currently 13.25%.

Analyst Ratings Changes

Several equities research analysts have commented on LEN shares. JPMorgan Chase & Co. boosted their target price on shares of Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. The Goldman Sachs Group downgraded Lennar from a “buy” rating to a “neutral” rating and cut their price target for the company from $180.00 to $174.00 in a report on Monday, July 22nd. Bank of America raised their target price on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Finally, Evercore ISI lowered their price target on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $180.56.

About Lennar

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.