Lennar Corporation $LEN Shares Acquired by Cibc World Market Inc.

Cibc World Market Inc. grew its holdings in shares of Lennar Corporation (NYSE:LEN) by 993.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,487 shares of the construction company’s stock after purchasing an additional 117,640 shares during the period. Cibc World Market Inc.’s holdings in Lennar were worth $16,321,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC lifted its holdings in shares of Lennar by 73.9% during the third quarter. Concurrent Investment Advisors LLC now owns 10,702 shares of the construction company’s stock valued at $1,349,000 after purchasing an additional 4,548 shares during the last quarter. denkapparat Operations GmbH purchased a new position in shares of Lennar in the second quarter worth approximately $408,000. Swiss National Bank raised its holdings in shares of Lennar by 4.3% during the second quarter. Swiss National Bank now owns 702,872 shares of the construction company’s stock valued at $77,745,000 after acquiring an additional 29,300 shares during the period. Longfellow Investment Management Co. LLC acquired a new position in Lennar in the 2nd quarter worth approximately $441,000. Finally, Waverton Investment Management Ltd acquired a new position in Lennar in the 2nd quarter worth approximately $1,051,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on LEN shares. BTIG Research set a $90.00 target price on shares of Lennar in a research note on Thursday, December 18th. Wall Street Zen lowered Lennar from a “hold” rating to a “sell” rating in a research report on Monday, December 8th. Royal Bank Of Canada set a $88.00 price objective on Lennar in a research report on Friday, January 9th. Keefe, Bruyette & Woods lowered their target price on Lennar from $125.00 to $115.00 and set a “market perform” rating on the stock in a research note on Thursday, December 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Lennar in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have assigned a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat.com, Lennar presently has an average rating of “Reduce” and an average target price of $106.38.

Lennar Stock Down 0.1%

Lennar stock opened at $120.84 on Friday. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $144.24. The firm’s fifty day simple moving average is $113.05 and its 200-day simple moving average is $121.83. The company has a market capitalization of $29.85 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.76 and a beta of 1.44. The company has a current ratio of 4.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.27). Lennar had a net margin of 6.08% and a return on equity of 9.27%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same period in the prior year, the company posted $4.03 EPS. The business’s revenue was down 5.8% on a year-over-year basis. Sell-side analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Wednesday, February 4th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $2.00 dividend on an annualized basis and a yield of 1.7%. Lennar’s payout ratio is currently 25.03%.

About Lennar

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.