Meiji Yasuda Asset Management Co Ltd. Cuts Stock Position in Lennar Co. (NYSE:LEN)

Meiji Yasuda Asset Management Co Ltd. trimmed its position in Lennar Co. (NYSE:LEN) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,587 shares of the construction company’s stock after selling 171 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Lennar were worth $489,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Crews Bank & Trust purchased a new stake in shares of Lennar in the fourth quarter valued at about $25,000. Armstrong Advisory Group Inc. boosted its holdings in Lennar by 69.4% in the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after purchasing an additional 75 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Lennar during the 4th quarter worth approximately $28,000. Legacy Investment Solutions LLC purchased a new position in shares of Lennar during the 3rd quarter worth approximately $39,000. Finally, Quarry LP lifted its holdings in shares of Lennar by 136.7% in the 3rd quarter. Quarry LP now owns 232 shares of the construction company’s stock valued at $43,000 after buying an additional 134 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Trading Up 0.2 %

Shares of LEN stock opened at $118.09 on Friday. The company has a market capitalization of $31.35 billion, a price-to-earnings ratio of 8.23, a PEG ratio of 1.24 and a beta of 1.69. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $124.60 and a 200 day moving average price of $151.79. Lennar Co. has a twelve month low of $111.26 and a twelve month high of $187.61.

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

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Wednesday, January 29th. Lennar’s dividend payout ratio is currently 14.57%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Citigroup cut their price objective on Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Bank of America cut their price target on shares of Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, March 18th. UBS Group reduced their price objective on shares of Lennar from $183.00 to $164.00 and set a “buy” rating for the company in a research note on Monday. BTIG Research lowered shares of Lennar from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, The Goldman Sachs Group reduced their price target on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating for the company in a research report on Tuesday. Fifteen research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lennar has an average rating of “Hold” and an average target price of $151.07.

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.