FUKOKU MUTUAL LIFE INSURANCE Co Grows Holdings in Lennar Co. (NYSE:LEN)

FUKOKU MUTUAL LIFE INSURANCE Co raised its position in Lennar Co. (NYSE:LEN) by 54.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,146 shares of the construction company’s stock after buying an additional 1,110 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Lennar were worth $590,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Lakewood Asset Management LLC lifted its holdings in Lennar by 0.8% in the 2nd quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock worth $1,407,000 after purchasing an additional 70 shares in the last quarter. NorthCrest Asset Manangement LLC increased its holdings in Lennar by 1.5% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock valued at $730,000 after acquiring an additional 73 shares during the last quarter. Aaron Wealth Advisors LLC lifted its stake in Lennar by 5.7% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock worth $207,000 after purchasing an additional 74 shares in the last quarter. Quotient Wealth Partners LLC boosted its holdings in shares of Lennar by 5.0% during the 2nd quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock valued at $231,000 after purchasing an additional 74 shares during the last quarter. Finally, Jupiter Wealth Management LLC increased its holdings in shares of Lennar by 1.0% in the third quarter. Jupiter Wealth Management LLC now owns 7,667 shares of the construction company’s stock worth $1,437,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

NYSE:LEN opened at $169.79 on Friday. The company has a market cap of $46.05 billion, a P/E ratio of 11.24, a P/E/G ratio of 1.56 and a beta of 1.62. The company’s 50-day moving average price is $179.72 and its 200-day moving average price is $168.65. Lennar Co. has a twelve month low of $125.17 and a twelve month high of $193.80. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.28. The company had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.91 EPS. On average, sell-side analysts forecast that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Dividend Announcement

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

Wall Street Analysts Forecast Growth

LEN has been the subject of a number of research reports. The Goldman Sachs Group downgraded Lennar from a “buy” rating to a “neutral” rating and lowered their target price for the company from $180.00 to $174.00 in a research report on Monday, July 22nd. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. JMP Securities upped their target price 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. Wells Fargo & Company cut their target price on Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Finally, Barclays raised their target price on shares of Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $180.56.

Insider Buying and Selling

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction 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 completion of the sale, the director now directly owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.36% of the company’s stock.

Lennar 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.