CIBC Asset Management Inc Purchases 1,263 Shares of Lennar Co. (NYSE:LEN)

CIBC Asset Management Inc raised its position in shares of Lennar Co. (NYSE:LEN) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,007 shares of the construction company’s stock after acquiring an additional 1,263 shares during the period. CIBC Asset Management Inc’s holdings in Lennar were worth $5,047,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in Lennar by 23,048.0% during the third quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock valued at $28,209,000 after acquiring an additional 149,812 shares during the period. Smead Capital Management Inc. boosted its holdings in Lennar by 3.5% during 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 acquiring an additional 89,896 shares during the period. Verition Fund Management LLC boosted its holdings in Lennar by 147.6% during the third quarter. Verition Fund Management LLC now owns 69,226 shares of the construction company’s stock valued at $12,978,000 after acquiring an additional 41,264 shares during the period. Polianta Ltd bought a new stake in Lennar during the fourth quarter valued at about $900,000. Finally, OneDigital Investment Advisors LLC lifted its stake in shares of Lennar by 101.2% in the third quarter. OneDigital Investment Advisors LLC now owns 8,673 shares of the construction company’s stock valued at $1,626,000 after buying an additional 4,363 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Lennar Stock Performance

NYSE LEN opened at $120.98 on Thursday. Lennar Co. has a 1-year low of $117.90 and a 1-year high of $193.80. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average of $135.18 and a 200-day moving average of $162.05. The firm has a market cap of $32.12 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 1.25 and a beta of 1.67.

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

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.65%. Lennar’s dividend payout ratio (DPR) is currently 13.95%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LEN shares. UBS Group reduced their target price on shares of Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. BTIG Research cut shares of Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Barclays reduced their target price on shares of Lennar from $135.00 to $121.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. reduced their target price on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Finally, Bank of America dropped their price target on shares of Lennar from $150.00 to $140.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $163.88.

About Lennar

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.