The Manufacturers Life Insurance Company Has $1.11 Billion Position in Lennar Co. (NYSE:LEN)

The Manufacturers Life Insurance Company grew its holdings in Lennar Co. (NYSE:LEN - Free Report) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,903,555 shares of the construction company's stock after purchasing an additional 73,638 shares during the period. Lennar makes up about 1.0% of The Manufacturers Life Insurance Company's holdings, making the stock its 8th biggest position. The Manufacturers Life Insurance Company owned about 2.18% of Lennar worth $1,106,798,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of LEN. Moors & Cabot Inc. grew its holdings in Lennar by 2.2% during the 3rd quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company's stock valued at $577,000 after buying an additional 66 shares in the last quarter. Lakewood Asset Management LLC grew its stake in Lennar by 0.8% during the second quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company's stock valued at $1,407,000 after acquiring an additional 70 shares in the last quarter. Centaurus Financial Inc. increased its holdings in Lennar by 2.5% during the 3rd quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company's stock worth $551,000 after acquiring an additional 71 shares during the period. NorthCrest Asset Manangement LLC lifted its stake in Lennar by 1.5% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company's stock worth $730,000 after purchasing an additional 73 shares in the last quarter. Finally, Aaron Wealth Advisors LLC grew its position in shares of Lennar by 5.7% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company's stock valued at $207,000 after purchasing an additional 74 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

Insider Activity at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business's stock in a transaction dated 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 transaction, the director now owns 23,689 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. 9.36% of the stock is owned by corporate insiders.

Lennar Trading Down 3.0 %

Shares of NYSE:LEN traded down $5.31 during trading on Tuesday, reaching $173.35. 1,997,262 shares of the company traded hands, compared to its average volume of 2,047,547. 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 Co. has a 52-week low of $125.17 and a 52-week high of $193.80. The business's fifty day moving average is $177.58 and its 200-day moving average is $169.53. The firm has a market capitalization of $47.02 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 1.58 and a beta of 1.62.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.62 by $0.28. The business had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company's revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.91 EPS. As a group, analysts forecast that Lennar Co. will post 14.18 EPS for the current year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.15%. Lennar's dividend payout ratio is currently 13.25%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company lowered their price objective 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. Royal Bank of Canada raised their price target on Lennar from $145.00 to $160.00 and gave the company an "underperform" rating in a report on Monday, September 23rd. Wedbush reissued a "neutral" rating and set a $144.00 price objective on shares of Lennar in a report on Friday, September 20th. Evercore ISI dropped their target price on shares of Lennar from $240.00 to $236.00 and set an "outperform" rating for the company in a research report on Monday, September 23rd. Finally, Citigroup boosted their price target on shares of Lennar from $164.00 to $196.00 and gave the stock a "neutral" rating in a research note on Monday, September 23rd. Two research 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 data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $180.56.

Lennar Company 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.