Mutual of America Capital Management LLC Trims Stake in Lennar Co. (NYSE:LEN)

Mutual of America Capital Management LLC lessened its holdings in shares of Lennar Co. (NYSE:LEN) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,780 shares of the construction company’s stock after selling 1,121 shares during the period. Mutual of America Capital Management LLC’s holdings in Lennar were worth $5,583,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LEN. Natixis Advisors LLC boosted its holdings in Lennar by 5.8% during the 3rd quarter. Natixis Advisors LLC now owns 182,646 shares of the construction company’s stock valued at $34,242,000 after acquiring an additional 9,990 shares during the period. Coastline Trust Co boosted its stake in shares of Lennar by 2.8% during the third quarter. Coastline Trust Co now owns 27,573 shares of the construction company’s stock valued at $5,169,000 after purchasing an additional 750 shares during the period. Empirical Finance LLC grew its holdings in shares of Lennar by 1.7% in the third quarter. Empirical Finance LLC now owns 8,798 shares of the construction company’s stock worth $1,649,000 after purchasing an additional 149 shares during the last quarter. Soditic Asset Management LLP increased its stake in Lennar by 143.1% in the 3rd quarter. Soditic Asset Management LLP now owns 29,290 shares of the construction company’s stock worth $5,491,000 after buying an additional 17,240 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in Lennar by 6.9% during the 3rd quarter. CIBC Asset Management Inc now owns 35,744 shares of the construction company’s stock valued at $6,701,000 after buying an additional 2,320 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Evercore ISI decreased their price target on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. Citigroup upped their target price on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods raised their price target on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Wells Fargo & Company lowered their price objective on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, StockNews.com lowered shares of Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Lennar has an average rating of “Hold” and an average price target of $180.56.

Lennar Stock Performance

Shares of Lennar stock opened at $168.76 on Wednesday. The company has a 50 day moving average price of $178.87 and a 200 day moving average price of $169.16. The firm has a market capitalization of $45.77 billion, a P/E ratio of 11.18, a PEG ratio of 1.58 and a beta of 1.62. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. Lennar Co. has a 52 week low of $125.17 and a 52 week high of $193.80.

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

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio is currently 13.25%.

Insider Buying and Selling at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the sale, the director now owns 23,689 shares of the company’s stock, valued at $4,148,654.57. This trade represents a 42.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company 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.