Mitsubishi UFJ Asset Management Co. Ltd. Buys 22,946 Shares of Lennar Co. (NYSE:LEN)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Lennar Co. (NYSE:LEN) by 6.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 375,538 shares of the construction company’s stock after purchasing an additional 22,946 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.14% of Lennar worth $51,028,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LEN. Verition Fund Management LLC increased its holdings in shares of Lennar by 147.6% during the third quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock worth $12,978,000 after buying an additional 41,264 shares in the last quarter. Polianta Ltd acquired a new position in Lennar in the 4th quarter worth about $900,000. Nordea Investment Management AB raised its position in Lennar by 21.4% in the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after purchasing an additional 397,492 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its stake in shares of Lennar by 71.7% during the third quarter. Kovitz Investment Group Partners LLC now owns 14,327 shares of the construction company’s stock valued at $2,686,000 after purchasing an additional 5,981 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Lennar by 22.0% in the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock valued at $446,110,000 after buying an additional 589,553 shares during the period. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

Shares of LEN opened at $113.83 on Friday. Lennar Co. has a one year low of $111.26 and a one year high of $187.61. The company has a market cap of $30.22 billion, a PE ratio of 7.94, a P/E/G ratio of 1.24 and a beta of 1.69. The stock has a 50-day moving average of $124.05 and a 200-day moving average of $151.33. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.44 billion. During the same quarter last year, the firm posted $2.57 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities research analysts predict that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar’s dividend payout ratio is currently 14.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LEN shares. Wells Fargo & Company reduced their target price on shares of Lennar from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 18th. Royal Bank of Canada reduced their price objective on shares of Lennar from $125.00 to $122.00 and set a “sector perform” rating on the stock in a research note on Monday, March 24th. Wedbush reaffirmed a “neutral” rating and set a $158.00 target price on shares of Lennar in a research report on Monday, March 17th. The Goldman Sachs Group reduced their price target on Lennar from $141.00 to $120.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Bank of America cut their price objective on Lennar from $140.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $151.07.

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.