Lennar Corporation $LEN Stock Position Raised by Cidel Asset Management Inc.

Cidel Asset Management Inc. lifted its stake in shares of Lennar Corporation (NYSE:LEN) by 15.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,707 shares of the construction company’s stock after acquiring an additional 372 shares during the quarter. Cidel Asset Management Inc.’s holdings in Lennar were worth $299,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Chicago Partners Investment Group LLC bought a new stake in shares of Lennar during the 2nd quarter worth $283,000. Palmer Knight Co bought a new stake in shares of Lennar during the 2nd quarter worth $5,565,000. Clearview Wealth Advisors LLC bought a new stake in shares of Lennar during the 2nd quarter worth $346,000. Turtle Creek Wealth Advisors LLC boosted its stake in shares of Lennar by 8.6% during the 2nd quarter. Turtle Creek Wealth Advisors LLC now owns 45,668 shares of the construction company’s stock worth $5,051,000 after acquiring an additional 3,627 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Lennar by 2.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 89,420 shares of the construction company’s stock worth $9,891,000 after acquiring an additional 1,949 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

Lennar Price Performance

Shares of NYSE:LEN opened at $125.78 on Monday. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $189.65. The business has a fifty day simple moving average of $129.60 and a 200 day simple moving average of $116.77. The firm has a market cap of $32.08 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 5.85 and a beta of 1.37.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, September 18th. The construction company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.15. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The business had revenue of $8.81 billion during the quarter, compared to analyst estimates of $9.01 billion. During the same period last year, the company earned $3.90 earnings per share. Lennar’s quarterly revenue was down 6.4% compared to the same quarter last year. As a group, sell-side analysts predict that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, October 10th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, October 10th. Lennar’s dividend payout ratio (DPR) is 19.76%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LEN. JMP Securities raised their price objective on Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a research note on Monday, September 22nd. Raymond James Financial cut Lennar from a “market perform” rating to an “underperform” rating in a research report on Monday, September 22nd. Bank of America decreased their target price on Lennar from $133.00 to $125.00 and set a “neutral” rating for the company in a research report on Friday, October 10th. UBS Group raised their target price on Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Finally, JPMorgan Chase & Co. decreased their target price on Lennar from $97.00 to $92.00 and set a “neutral” rating for the company in a research report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $121.75.

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.