Mutual of America Capital Management LLC Cuts Position in Lennar Co. (NYSE:LEN)

Posted by Defense World Staff on Aug 5th, 2023

Mutual of America Capital Management LLC reduced its stake in shares of Lennar Co. (NYSE:LEN – Free Report) by 0.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,304 shares of the construction company’s stock after selling 111 shares during the period. Mutual of America Capital Management LLC’s holdings in Lennar were worth $3,816,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Close Asset Management Ltd purchased a new stake in Lennar during the first quarter worth about $37,000. Heritage Wealth Advisors acquired a new stake in shares of Lennar in the 4th quarter worth approximately $39,000. MV Capital Management Inc. increased its stake in Lennar by 47.0% in the 1st quarter. MV Capital Management Inc. now owns 397 shares of the construction company’s stock valued at $42,000 after purchasing an additional 127 shares in the last quarter. Money Concepts Capital Corp raised its holdings in Lennar by 494.4% during the fourth quarter. Money Concepts Capital Corp now owns 737 shares of the construction company’s stock worth $67,000 after purchasing an additional 613 shares during the last quarter. Finally, Westside Investment Management Inc. grew its holdings in Lennar by 3,616.1% in the fourth quarter. Westside Investment Management Inc. now owns 1,152 shares of the construction company’s stock valued at $104,000 after purchasing an additional 1,121 shares during the last quarter. 82.69% of the stock is owned by institutional investors and hedge funds.

Lennar Trading Up 2.4 %

LEN stock opened at $125.57 on Friday. Lennar Co. has a 52 week low of $69.90 and a 52 week high of $133.24. The company has a market cap of $36.09 billion, a price-to-earnings ratio of 8.57, a PEG ratio of 1.62 and a beta of 1.47. The company has a quick ratio of 1.24, a current ratio of 7.08 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $121.79 and a 200-day simple moving average of $110.42.

Lennar (NYSE:LEN – Get Free Report) last released its quarterly earnings data on Wednesday, June 14th. The construction company reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.62. The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.28 billion. Lennar had a return on equity of 18.27% and a net margin of 12.66%. On average, equities research analysts expect that Lennar Co. will post 12.65 EPS for the current year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, July 6th. Lennar’s dividend payout ratio is presently 10.24%.

Analysts Set New Price Targets

LEN has been the topic of a number of research reports. Seaport Res Ptn reissued a “buy” rating on shares of Lennar in a research note on Wednesday, June 14th. Wedbush lifted their price objective on Lennar from $94.00 to $123.00 in a research report on Thursday, June 15th. Deutsche Bank Aktiengesellschaft started coverage on Lennar in a report on Wednesday, May 31st. They set a “sell” rating and a $105.00 target price on the stock. UBS Group upped their price objective on Lennar from $127.00 to $150.00 in a research report on Friday, June 16th. Finally, Keefe, Bruyette & Woods lifted their price objective on Lennar from $130.00 to $145.00 in a research report on Friday, June 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $127.20.

Insider Activity at Lennar

In other Lennar news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $126.48, for a total value of $1,264,800.00. Following the transaction, the executive vice president now directly owns 141,386 shares of the company’s stock, valued at $17,882,501.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Jeffrey Joseph Mccall sold 10,000 shares of Lennar stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $126.48, for a total transaction of $1,264,800.00. Following the sale, the executive vice president now owns 141,386 shares in the company, valued at $17,882,501.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy Banse acquired 790 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were purchased at an average price of $126.42 per share, for a total transaction of $99,871.80. Following the purchase, the director now directly owns 7,293 shares of the company’s stock, valued at $921,981.06. The disclosure for this purchase can be found here. Company insiders own 9.53% of the company’s stock.

Lennar Company Profile

(Free Report)

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.