Zurcher Kantonalbank Zurich Cantonalbank Decreases Stake in Lennar Co. (NYSE:LEN)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in shares of Lennar Co. (NYSE:LEN) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,647 shares of the construction company’s stock after selling 1,282 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lennar were worth $8,558,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Oakworth Capital Inc. bought a new stake in Lennar in the third quarter worth $27,000. Wolff Wiese Magana LLC grew its position in Lennar by 933.3% in the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after acquiring an additional 140 shares in the last quarter. GHP Investment Advisors Inc. purchased a new stake in Lennar during the third quarter valued at approximately $30,000. Asset Dedication LLC lifted its stake in shares of Lennar by 4,225.0% in the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after purchasing an additional 169 shares during the last quarter. Finally, Fortitude Family Office LLC increased its position in shares of Lennar by 223.6% during the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after purchasing an additional 161 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

LEN has been the subject of a number of analyst reports. StockNews.com downgraded Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Citigroup upped their price target on shares of Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. boosted their target price on Lennar from $154.00 to $173.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Bank Of America (Bofa) increased their price target on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Finally, Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $184.29.

Insider Activity

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the sale, the director now owns 23,689 shares in the company, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.36% of the company’s stock.

Lennar Trading Up 0.2 %

NYSE:LEN opened at $174.39 on Monday. The firm has a 50 day moving average of $176.77 and a 200 day moving average of $169.72. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. Lennar Co. has a 52 week low of $125.17 and a 52 week high of $193.80. The stock has a market capitalization of $47.30 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.63 and a beta of 1.62.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.28. The firm had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.91 EPS. As a group, sell-side analysts anticipate that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.15%. Lennar’s dividend payout ratio is currently 13.25%.

Lennar 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.