Lennar Corporation $LEN Shares Acquired by Cidel Asset Management Inc.

Cidel Asset Management Inc. raised its position in shares of Lennar Corporation (NYSE:LEN) by 15.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,707 shares of the construction company’s stock after buying 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 quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Disciplina Capital Management LLC raised its stake in Lennar by 179.8% during the first quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock valued at $38,000 after buying an additional 214 shares in the last quarter. Oakworth Capital Inc. raised its stake in Lennar by 139.9% during the first quarter. Oakworth Capital Inc. now owns 343 shares of the construction company’s stock valued at $39,000 after buying an additional 200 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in Lennar during the first quarter valued at approximately $44,000. Valley National Advisers Inc. raised its stake in Lennar by 34.7% during the first quarter. Valley National Advisers Inc. now owns 466 shares of the construction company’s stock valued at $53,000 after buying an additional 120 shares in the last quarter. Finally, Horizon Financial Services LLC acquired a new stake in Lennar during the first quarter valued at approximately $66,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Up 2.4%

LEN opened at $125.78 on Monday. The stock’s 50 day moving average price is $129.60 and its 200 day moving average price is $116.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68. The stock has a market cap of $32.08 billion, a P/E ratio of 12.43, a P/E/G ratio of 5.85 and a beta of 1.37. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $189.65.

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

Lennar Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LEN. The Goldman Sachs Group increased their price target on Lennar from $122.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. JPMorgan Chase & Co. dropped their price target on Lennar from $97.00 to $92.00 and set a “neutral” rating on the stock in a research report on Monday, September 22nd. UBS Group increased their price target on Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Evercore ISI dropped their price target on Lennar from $118.00 to $114.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 7th. Finally, Citigroup restated an “outperform” rating on shares of Lennar in a research report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.