Mn Services Vermogensbeheer B.V. Lowers Position in Lennar Co. (NYSE:LEN)

Mn Services Vermogensbeheer B.V. reduced its position in shares of Lennar Co. (NYSE:LEN) by 2.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,900 shares of the construction company’s stock after selling 2,400 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Lennar were worth $17,979,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Norden Group LLC purchased a new position in Lennar in the first quarter valued at about $349,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Lennar by 1.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,222 shares of the construction company’s stock valued at $8,809,000 after purchasing an additional 943 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Lennar by 544.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,248 shares of the construction company’s stock worth $5,890,000 after purchasing an additional 28,935 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Lennar during the first quarter worth $702,000. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Lennar in the first quarter valued at $3,832,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

LEN has been the topic of several recent research reports. JMP Securities upped their price target on shares of Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a report on Wednesday, September 25th. Barclays increased their target price on Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Bank of America boosted their price target on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Citigroup lifted their price objective on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, Wedbush restated a “neutral” rating and issued a $144.00 target price on shares of Lennar in a report on Friday, September 20th. Two 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 company has an average rating of “Hold” and an average price target of $181.11.

Lennar Stock Performance

LEN stock opened at $172.63 on Tuesday. The firm has a market cap of $46.82 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.59 and a beta of 1.62. The stock’s 50 day simple moving average is $181.12 and its 200 day simple moving average is $167.90. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. Lennar Co. has a 12-month low of $116.62 and a 12-month high of $193.80.

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

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is 13.25%.

Insider Buying and Selling

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction on Monday, October 28th. The stock was 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 directly owns 23,689 shares in the company, valued at $4,148,654.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 9.36% of the company’s stock.

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.