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

Mizuho Securities USA LLC lessened its holdings in Lennar Co. (NYSE:LEN) by 17.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LEN. Oakworth Capital Inc. purchased a new position in Lennar during the 3rd quarter valued at about $27,000. Wolff Wiese Magana LLC grew its position in Lennar by 933.3% during the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. GHP Investment Advisors Inc. acquired a new position in Lennar in the 3rd quarter valued at approximately $30,000. New Covenant Trust Company N.A. purchased a new stake in Lennar in the 1st quarter worth approximately $32,000. Finally, Asset Dedication LLC boosted its stake in shares of Lennar by 4,225.0% during the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after buying an additional 169 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Citigroup increased their price objective on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Wells Fargo & Company cut their price target on Lennar from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Royal Bank of Canada boosted their price target on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods raised their price objective on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Finally, Bank Of America (Bofa) boosted their target price on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Two equities 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $180.56.

Lennar Price Performance

Shares of NYSE:LEN opened at $169.17 on Friday. The company has a market cap of $45.89 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 1.58 and a beta of 1.62. The business has a 50 day moving average price of $178.07 and a 200 day moving average price of $169.20. 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 twelve month low of $125.17 and a twelve month high of $193.80.

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

Lennar Announces Dividend

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

Insider Activity

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the sale, the director now directly owns 23,689 shares in the company, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.36% of the stock is owned by company insiders.

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.