Toronto Dominion Bank increased its stake in shares of Lennar Co. (NYSE:LEN) by 14.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88,013 shares of the construction company’s stock after acquiring an additional 10,940 shares during the period. Toronto Dominion Bank’s holdings in Lennar were worth $5,566,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LEN. First Personal Financial Services bought a new stake in Lennar in the fourth quarter valued at approximately $140,000. QS Investors LLC raised its stake in Lennar by 1.0% in the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock valued at $135,000 after buying an additional 25 shares during the period. NuWave Investment Management LLC bought a new stake in Lennar in the fourth quarter valued at approximately $203,000. AE Wealth Management LLC bought a new stake in Lennar in the fourth quarter valued at approximately $228,000. Finally, Boston Family Office LLC bought a new stake in Lennar in the fourth quarter valued at approximately $245,000. Institutional investors and hedge funds own 86.35% of the company’s stock.
Several research firms have issued reports on LEN. Barclays upgraded Lennar from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $68.00 to $72.00 in a research note on Wednesday, February 7th. Wedbush set a $60.00 price objective on Lennar and gave the company a “hold” rating in a research note on Thursday, January 4th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $77.00 price objective on shares of Lennar in a research note on Tuesday, February 13th. Credit Suisse Group restated a “neutral” rating and issued a $65.00 price objective (up previously from $57.00) on shares of Lennar in a research note on Thursday, January 11th. Finally, ValuEngine upgraded Lennar from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $67.93.
In related news, COO Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $64.02, for a total transaction of $1,280,400.00. Following the sale, the chief operating officer now owns 99,000 shares of the company’s stock, valued at $6,337,980. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Bruce E. Gross sold 1,000 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $72.00, for a total value of $72,000.00. Following the sale, the chief financial officer now directly owns 356,043 shares in the company, valued at approximately $25,635,096. The disclosure for this sale can be found here. Insiders sold 175,000 shares of company stock worth $12,092,050 in the last ninety days. 12.18% of the stock is owned by company insiders.
Lennar Co. (NYSE LEN) opened at $60.86 on Tuesday. Lennar Co. has a 12-month low of $45.75 and a 12-month high of $72.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 8.42 and a quick ratio of 1.67. The company has a market capitalization of $14,317.92, a P/E ratio of 17.80, a PEG ratio of 0.63 and a beta of 1.26.
Lennar (NYSE:LEN) last posted its earnings results on Wednesday, January 10th. The construction company reported $1.29 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.21). Lennar had a net margin of 6.41% and a return on equity of 12.00%. The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period in the previous year, the company posted $1.34 EPS. Lennar’s revenue for the quarter was up 12.1% compared to the same quarter last year. sell-side analysts expect that Lennar Co. will post 5.29 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, January 26th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.26%. The ex-dividend date was Thursday, January 25th. Lennar’s payout ratio is 4.68%.
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Lennar Company Profile
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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