Mizuho Securities USA LLC Decreases Holdings in Lennar Co. (NYSE:LEN)

Mizuho Securities USA LLC cut its position in Lennar Co. (NYSE:LEN - Free Report) by 17.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Pacer Advisors Inc. raised its holdings in Lennar by 15.1% in the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company's stock valued at $452,886,000 after acquiring an additional 396,951 shares during the last quarter. Smead Capital Management Inc. grew its position in shares of Lennar by 3.5% in the third quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company's stock valued at $499,991,000 after purchasing an additional 89,896 shares in the last quarter. D1 Capital Partners L.P. lifted its position in Lennar by 428.9% during the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company's stock worth $362,685,000 after buying an additional 1,962,447 shares in the last quarter. Marshall Wace LLP boosted its stake in Lennar by 20.9% during the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company's stock worth $302,084,000 after buying an additional 348,553 shares during the last quarter. Finally, Eminence Capital LP grew its holdings in Lennar by 14.6% in the 2nd quarter. Eminence Capital LP now owns 655,368 shares of the construction company's stock valued at $98,220,000 after buying an additional 83,316 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Bank of America lifted their price target on Lennar from $171.00 to $190.00 and gave the stock a "neutral" rating in a report on Thursday, September 19th. JMP Securities boosted their target price on shares of Lennar from $170.00 to $210.00 and gave the company a "market outperform" rating in a report on Wednesday, September 25th. Bank Of America (Bofa) raised their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a "neutral" rating in a report on Friday, September 20th. StockNews.com cut Lennar from a "buy" rating to a "hold" rating in a report on Saturday, September 28th. Finally, Keefe, Bruyette & Woods raised their target price on Lennar from $183.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 4th. Two 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 MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $180.56.

Lennar Stock Performance

Shares of LEN traded up $1.10 during midday trading on Friday, reaching $169.17. 1,821,205 shares of the stock were exchanged, compared to its average volume of 1,918,648. The company has a market capitalization of $45.89 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 1.57 and a beta of 1.62. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. Lennar Co. has a twelve month low of $125.17 and a twelve month high of $193.80. The business's 50-day moving average price is $178.07 and its 200 day moving average price is $169.20.

Lennar (NYSE:LEN - Get Free Report) last announced its 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 for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm posted $3.91 earnings per share. On average, sell-side analysts expect that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Dividend Announcement

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

Insider Transactions at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the 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 completion of the transaction, the director now directly owns 23,689 shares of the company's stock, valued at approximately $4,148,654.57. This represents a 42.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 9.36% of the company's stock.

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.