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

Dai ichi Life Insurance Company Ltd lessened its holdings in Lennar Co. (NYSE:LEN) by 24.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,744 shares of the construction company’s stock after selling 2,186 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Lennar were worth $1,264,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of LEN. The Manufacturers Life Insurance Company raised its position in shares of Lennar by 1.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company’s stock valued at $1,106,798,000 after acquiring an additional 73,638 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Lennar by 15.1% during the second quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock worth $452,886,000 after purchasing an additional 396,951 shares during the period. Smead Capital Management Inc. lifted its stake in Lennar by 3.5% in the third 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 during the period. D1 Capital Partners L.P. boosted its holdings in Lennar by 428.9% during the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock worth $362,685,000 after buying an additional 1,962,447 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of Lennar by 20.9% during the 2nd quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock worth $302,084,000 after buying an additional 348,553 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insiders Place Their Bets

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $175.13, for a total value 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 $4,148,654.57. This represents a 42.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.36% of the company’s stock.

Lennar Trading Up 0.4 %

Lennar stock opened at $174.16 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The stock has a 50-day simple moving average of $177.30 and a 200 day simple moving average of $169.56. The stock has a market capitalization of $47.24 billion, a P/E ratio of 11.53, a PEG ratio of 1.67 and a beta of 1.62. Lennar Co. has a 52 week low of $125.17 and a 52 week high of $193.80.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating 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 company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.91 earnings per share. Analysts expect that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Announces Dividend

The business also recently announced 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. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.15%. Lennar’s payout ratio is 13.25%.

Wall Street Analysts Forecast Growth

LEN has been the topic of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Evercore ISI reduced their price target on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. JPMorgan Chase & Co. raised their price objective on Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Barclays boosted their target price on Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, JMP Securities lifted their price objective on Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $184.29.

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.