Mirabella Financial Services LLP Has $24.51 Million Stock Holdings in Lennar Co. (NYSE:LEN)

Mirabella Financial Services LLP decreased its holdings in shares of Lennar Co. (NYSE:LEN) by 24.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 130,757 shares of the construction company’s stock after selling 42,099 shares during the period. Lennar makes up approximately 1.6% of Mirabella Financial Services LLP’s portfolio, making the stock its 12th largest position. Mirabella Financial Services LLP’s holdings in Lennar were worth $24,514,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Axxcess Wealth Management LLC acquired a new stake in Lennar in the 1st quarter worth approximately $221,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Lennar by 1.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 350,987 shares of the construction company’s stock worth $60,364,000 after buying an additional 6,136 shares during the last quarter. SVB Wealth LLC boosted its holdings in shares of Lennar by 15.9% during the 1st quarter. SVB Wealth LLC now owns 3,916 shares of the construction company’s stock worth $674,000 after buying an additional 538 shares during the period. Bayesian Capital Management LP acquired a new position in Lennar in the 1st quarter valued at $996,000. Finally, B. Riley Wealth Advisors Inc. lifted its position in Lennar by 31.2% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,802 shares of the construction company’s stock worth $1,686,000 after acquiring an additional 2,332 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Price Performance

Lennar stock opened at $171.50 on Monday. The business has a 50 day simple moving average of $178.07 and a 200 day simple moving average of $169.33. Lennar Co. has a one year low of $125.17 and a one year high of $193.80. The company has a market capitalization of $46.52 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 1.58 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 (NYSE:LEN) last issued its earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating the consensus estimate of $3.62 by $0.28. The company had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.91 EPS. On average, sell-side analysts forecast that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Announces Dividend

The company 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. This represents a $2.00 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is 13.25%.

Analysts Set New Price Targets

A number of research firms have recently commented on LEN. Barclays lifted their price objective on Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a research note 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 report on Thursday, November 7th. Keefe, Bruyette & Woods raised their price objective on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. JMP Securities upped their target price on shares of Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Wednesday, September 25th. Finally, StockNews.com lowered shares of Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $180.56.

Insider Activity

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $175.13, for a total value 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 $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 9.36% of the stock is currently owned by corporate insiders.

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.