Dai ichi Life Insurance Company Ltd Has $3.43 Million Position in Lennar Co. (NYSE:LEN)

Dai ichi Life Insurance Company Ltd lifted its position in shares of Lennar Co. (NYSE:LENFree Report) by 27.8% in the fourth quarter, HoldingsChannel reports. The fund owned 23,010 shares of the construction company’s stock after buying an additional 5,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Lennar were worth $3,429,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Benjamin Edwards Inc. raised its position in shares of Lennar by 7.2% during the fourth quarter. Benjamin Edwards Inc. now owns 1,027 shares of the construction company’s stock worth $153,000 after acquiring an additional 69 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Lennar by 1.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,448 shares of the construction company’s stock worth $663,000 after acquiring an additional 70 shares during the last quarter. Savant Capital LLC raised its position in shares of Lennar by 0.9% during the fourth quarter. Savant Capital LLC now owns 8,361 shares of the construction company’s stock worth $1,246,000 after acquiring an additional 78 shares during the last quarter. RFG Advisory LLC raised its position in shares of Lennar by 2.1% during the fourth quarter. RFG Advisory LLC now owns 3,847 shares of the construction company’s stock worth $573,000 after acquiring an additional 79 shares during the last quarter. Finally, FFT Wealth Management LLC raised its position in shares of Lennar by 3.3% during the fourth quarter. FFT Wealth Management LLC now owns 2,646 shares of the construction company’s stock worth $394,000 after acquiring an additional 85 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on LEN shares. JMP Securities reiterated a “market outperform” rating and issued a $170.00 price objective on shares of Lennar in a report on Friday, March 15th. Deutsche Bank Aktiengesellschaft upped their price objective on Lennar from $110.00 to $122.00 and gave the company a “sell” rating in a report on Thursday, March 14th. JPMorgan Chase & Co. dropped their price objective on Lennar from $161.00 to $157.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Wedbush reiterated an “underperform” rating and issued a $144.00 price objective on shares of Lennar in a report on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods increased their price target on Lennar from $175.00 to $183.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Lennar currently has a consensus rating of “Moderate Buy” and an average target price of $163.88.

Get Our Latest Analysis on Lennar

Insider Buying and Selling at Lennar

In other news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the transaction, the executive vice president now owns 128,629 shares in the company, valued at $20,927,938.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Lennar news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the transaction, the executive vice president now owns 128,629 shares in the company, valued at approximately $20,927,938.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Amy Banse acquired 1,575 shares of the stock in a transaction on Wednesday, April 10th. The shares were bought at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the purchase, the director now owns 11,859 shares in the company, valued at $1,861,863. The disclosure for this purchase can be found here. Corporate insiders own 9.36% of the company’s stock.

Lennar Stock Down 0.9 %

NYSE LEN traded down $1.39 during trading hours on Thursday, hitting $154.49. 221,354 shares of the company traded hands, compared to its average volume of 1,973,703. The business’s 50-day moving average is $160.31 and its 200-day moving average is $150.64. Lennar Co. has a twelve month low of $102.90 and a twelve month high of $172.59. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.27 and a current ratio of 5.47. The stock has a market capitalization of $43.00 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 1.52 and a beta of 1.55.

Lennar (NYSE:LENGet Free Report) last released its quarterly earnings data on Thursday, March 14th. The construction company reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.36. The firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.39 billion. Lennar had a return on equity of 15.90% and a net margin of 11.59%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.12 earnings per share. Sell-side analysts anticipate that Lennar Co. will post 14.46 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a $2.00 annualized dividend and a yield of 1.29%. Lennar’s dividend payout ratio is 14.02%.

Lennar Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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