Lennar Co. (NYSE:LEN) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp boosted its holdings in shares of Lennar Co. (NYSE:LEN) by 14.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,654 shares of the construction company’s stock after buying an additional 4,889 shares during the period. Cibc World Markets Corp’s holdings in Lennar were worth $5,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Lennar in the third quarter valued at about $7,348,000. Prospera Private Wealth LLC acquired a new position in shares of Lennar in the third quarter valued at about $131,000. Commerce Bank increased its holdings in shares of Lennar by 0.5% in the third quarter. Commerce Bank now owns 15,074 shares of the construction company’s stock valued at $2,826,000 after purchasing an additional 74 shares during the period. PCJ Investment Counsel Ltd. acquired a new position in shares of Lennar in the third quarter valued at about $1,125,000. Finally, Bellwether Advisors LLC acquired a new position in shares of Lennar in the third quarter valued at about $2,364,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on LEN shares. Citigroup cut their price objective on Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Barclays lowered their target price on Lennar from $135.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Seaport Res Ptn upgraded Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. lowered their target price on Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Finally, Bank of America lowered their target price on Lennar from $140.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday. Fourteen research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Lennar presently has an average rating of “Hold” and an average price target of $164.53.

Lennar Stock Performance

Shares of LEN stock opened at $120.55 on Thursday. The business’s 50 day moving average is $126.66 and its two-hundred day moving average is $154.18. Lennar Co. has a 12-month low of $115.61 and a 12-month high of $187.61. The company has a market capitalization of $32.01 billion, a P/E ratio of 8.41, a P/E/G ratio of 1.24 and a beta of 1.69. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last announced its earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same period in the previous year, the company earned $4.82 EPS. Lennar’s revenue was down 9.3% compared to the same quarter last year. Analysts expect that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.66%. Lennar’s payout ratio is currently 13.95%.

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.