Lennar Corporation $LEN Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in Lennar Corporation (NYSE:LEN) by 56.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,149 shares of the construction company’s stock after purchasing an additional 18,499 shares during the quarter. CIBC Asset Management Inc’s holdings in Lennar were worth $5,258,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LEN. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Lennar in the 3rd quarter valued at about $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Lennar in the 3rd quarter valued at about $26,000. High Point Wealth Management LLC acquired a new stake in shares of Lennar in the 4th quarter valued at about $31,000. Washington Trust Advisors Inc. boosted its position in shares of Lennar by 102.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 371 shares of the construction company’s stock valued at $47,000 after purchasing an additional 188 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Lennar in the 4th quarter valued at about $47,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LEN has been the subject of a number of research analyst reports. Citigroup decreased their target price on Lennar from $113.00 to $104.00 and set a “neutral” rating for the company in a research report on Tuesday, March 17th. UBS Group reduced their price objective on Lennar from $122.00 to $107.00 and set a “neutral” rating for the company in a research note on Monday, March 16th. Weiss Ratings downgraded Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 16th. Evercore reduced their price objective on Lennar from $89.00 to $82.00 and set an “underperform” rating for the company in a research note on Monday, April 13th. Finally, Barclays reduced their price objective on Lennar from $85.00 to $80.00 and set an “underweight” rating for the company in a research note on Wednesday, April 8th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and eight have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $99.87.

Lennar Stock Performance

Shares of LEN stock opened at $90.63 on Friday. The company has a market cap of $22.38 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 2.00 and a beta of 1.39. The stock has a 50 day simple moving average of $88.97 and a 200-day simple moving average of $104.25. Lennar Corporation has a 12-month low of $81.18 and a 12-month high of $144.24. The company has a current ratio of 4.77, a quick ratio of 0.97 and a debt-to-equity ratio of 0.18.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). The business had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.The business’s quarterly revenue was down 13.3% on a year-over-year basis. During the same period last year, the company posted $2.14 earnings per share. On average, equities analysts forecast that Lennar Corporation will post 5.87 EPS for the current year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were issued a $0.50 dividend. The ex-dividend date was Wednesday, April 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. Lennar’s dividend payout ratio is currently 28.74%.

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.