TD Waterhouse Canada Inc. Lowers Holdings in Lennar Corporation $LEN

TD Waterhouse Canada Inc. trimmed its stake in shares of Lennar Corporation (NYSE:LEN) by 39.8% during the 2nd quarter, Holdings Channel reports. The fund owned 13,436 shares of the construction company’s stock after selling 8,895 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Lennar were worth $1,170,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Lazard Asset Management LLC boosted its position in Lennar by 7.1% in the 2nd quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock worth $141,000 after purchasing an additional 85 shares in the last quarter. Rossby Financial LCC increased its holdings in shares of Lennar by 9.1% during the 4th quarter. Rossby Financial LCC now owns 1,059 shares of the construction company’s stock valued at $109,000 after purchasing an additional 88 shares in the last quarter. New Mexico Educational Retirement Board lifted its stake in shares of Lennar by 1.0% in the 4th quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company’s stock valued at $1,086,000 after purchasing an additional 100 shares during the period. KDT Advisors LLC boosted its holdings in Lennar by 2.7% during the third quarter. KDT Advisors LLC now owns 4,654 shares of the construction company’s stock worth $587,000 after buying an additional 123 shares in the last quarter. Finally, KCM Investment Advisors LLC grew its position in Lennar by 1.3% during the first quarter. KCM Investment Advisors LLC now owns 9,879 shares of the construction company’s stock valued at $858,000 after buying an additional 125 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LEN shares. Argus set a $108.00 price objective on shares of Lennar in a report on Thursday, July 9th. Truist Financial dropped their target price on Lennar from $90.00 to $80.00 and set a “hold” rating on the stock in a research report on Thursday, August 6th. Keefe, Bruyette & Woods reduced their price target on Lennar from $86.00 to $85.00 and set an “underperform” rating for the company in a report on Wednesday, June 17th. UBS Group lowered their price target on Lennar from $107.00 to $94.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 16th. Finally, Zacks Research cut Lennar from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $92.13.

Lennar Price Performance

Shares of Lennar stock opened at $80.56 on Wednesday. The stock has a market capitalization of $19.41 billion, a P/E ratio of 12.61, a PEG ratio of 2.78 and a beta of 1.39. The business has a 50 day simple moving average of $85.29 and a two-hundred day simple moving average of $90.27. Lennar Corporation has a 12 month low of $79.82 and a 12 month high of $141.84. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.91 and a quick ratio of 0.91.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.24 by $0.07. The firm had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $8.08 billion. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.81 earnings per share. As a group, analysts predict that Lennar Corporation will post 5.52 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, July 10th. Lennar’s dividend payout ratio is 31.30%.

Lennar Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.