Mn Services Vermogensbeheer B.V. Sells 9,400 Shares of Lennar Co. (NYSE:LEN)

Mn Services Vermogensbeheer B.V. decreased its position in shares of Lennar Co. (NYSE:LEN) by 9.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,500 shares of the construction company’s stock after selling 9,400 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Lennar were worth $10,388,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Optas LLC bought a new position in Lennar during the 1st quarter worth approximately $258,000. Brighton Jones LLC lifted its holdings in shares of Lennar by 11.8% during the 1st quarter. Brighton Jones LLC now owns 1,931 shares of the construction company’s stock valued at $222,000 after purchasing an additional 204 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Lennar by 35.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,695 shares of the construction company’s stock valued at $309,000 after purchasing an additional 710 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Lennar during the 1st quarter valued at about $30,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Lennar by 2.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 208,763 shares of the construction company’s stock valued at $23,962,000 after purchasing an additional 4,332 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on LEN. Seaport Res Ptn upgraded Lennar from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Wall Street Zen upgraded Lennar from a “sell” rating to a “hold” rating in a report on Friday, April 18th. Royal Bank of Canada cut their price objective on Lennar from $125.00 to $122.00 and set a “sector perform” rating on the stock in a report on Monday, March 24th. UBS Group cut their price objective on Lennar from $183.00 to $164.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Finally, Barclays cut their target price on Lennar from $121.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Monday, March 24th. Fifteen investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $150.07.

Lennar Trading Up 0.7%

Shares of Lennar stock opened at $109.35 on Tuesday. Lennar Co. has a 12-month low of $98.42 and a 12-month high of $187.61. The stock has a market cap of $28.84 billion, a P/E ratio of 7.63, a P/E/G ratio of 1.24 and a beta of 1.33. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $107.98 and its 200-day moving average is $122.83.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Monday, June 16th. The construction company reported $1.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.13). Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. During the same quarter in the prior year, the company earned $3.45 EPS. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. Equities research analysts predict that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Wednesday, April 23rd. Lennar’s dividend payout ratio is currently 14.57%.

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.