Mizuho Securities USA LLC Has $2.94 Million Stock Position in Lennar Co. (NYSE:LEN)

Mizuho Securities USA LLC cut its stake in Lennar Co. (NYSE:LEN) by 17.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,673 shares of the construction company’s stock after selling 3,205 shares during the period. Mizuho Securities USA LLC’s holdings in Lennar were worth $2,938,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of LEN. Pacer Advisors Inc. lifted its holdings 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 valued at $452,886,000 after acquiring an additional 396,951 shares during the period. Smead Capital Management Inc. lifted its holdings in Lennar by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock valued at $499,991,000 after purchasing an additional 89,896 shares during the last quarter. D1 Capital Partners L.P. grew its stake 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. Marshall Wace LLP increased its holdings in shares of Lennar by 20.9% during the second 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 in the last quarter. Finally, Eminence Capital LP boosted its holdings in shares of Lennar by 14.6% in the 2nd quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock worth $98,220,000 after acquiring an additional 83,316 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Trading Up 0.7 %

NYSE LEN opened at $169.17 on Friday. Lennar Co. has a one year low of $125.17 and a one year high of $193.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The firm has a market cap of $45.89 billion, a P/E ratio of 11.20, a P/E/G ratio of 1.58 and a beta of 1.62. The stock’s 50-day moving average is $178.07 and its 200-day moving average is $169.20.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping 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 business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the company posted $3.91 EPS. Sell-side analysts anticipate that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is presently 13.25%.

Analysts Set New Price Targets

LEN has been the topic of several research analyst reports. Citigroup increased their price target on shares of Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. lifted their target price on Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Bank Of America (Bofa) upped their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company reduced their target price 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. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $180.56.

Insider Activity

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction that occurred on 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 sale, the director now owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This trade represents a 42.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.36% of the company’s stock.

About Lennar

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.