Mediolanum International Funds Ltd Trims Stake in Lennar Co. (NYSE:LEN)

Mediolanum International Funds Ltd cut its position in shares of Lennar Co. (NYSE:LEN) by 44.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,365 shares of the construction company’s stock after selling 13,864 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Lennar were worth $3,242,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Partners grew its position in shares of Lennar by 21.5% in the 1st quarter. Boston Partners now owns 23,775 shares of the construction company’s stock worth $4,089,000 after buying an additional 4,207 shares during the period. Norden Group LLC purchased a new position in shares of Lennar during the first quarter valued at approximately $5,592,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Lennar by 544.6% in the 1st 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 in the last quarter. Fulton Bank N.A. purchased a new stake in shares of Lennar in the 2nd quarter worth approximately $477,000. Finally, Rockport Wealth LLC bought a new position in Lennar during the 1st quarter valued at approximately $512,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on LEN. Bank of America increased their target price on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Raymond James lowered shares of Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods upped their target price on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. JMP Securities raised their price target on shares of Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Wednesday, September 25th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $144.00 price objective on shares of Lennar in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Lennar currently has a consensus rating of “Hold” and a consensus price target of $181.11.

Lennar Trading Down 1.5 %

NYSE:LEN opened at $173.28 on Friday. The business has a fifty day moving average price of $182.08 and a 200-day moving average price of $167.14. 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 one year low of $102.90 and a one year high of $193.80. The firm has a market capitalization of $47.00 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 1.62 and a beta of 1.61.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. During the same quarter in the prior year, the company posted $3.91 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. Sell-side analysts forecast that Lennar Co. will post 14.18 EPS for the current year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors 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 1.15%. Lennar’s dividend payout ratio is currently 13.25%.

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.