Cutler Investment Counsel LLC Purchases Shares of 26,662 Lennar Corporation $LEN

Cutler Investment Counsel LLC acquired a new position in shares of Lennar Corporation (NYSE:LEN) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 26,662 shares of the construction company’s stock, valued at approximately $3,360,000.

A number of other institutional investors and hedge funds also recently modified their holdings of LEN. FNY Investment Advisers LLC acquired a new position in shares of Lennar in the second quarter worth about $33,000. Rexford Capital Inc. purchased a new stake in shares of Lennar in the 2nd quarter valued at approximately $36,000. Mid American Wealth Advisory Group Inc. acquired a new position in Lennar in the 2nd quarter worth approximately $43,000. Cary Street Partners Financial LLC purchased a new position in Lennar during the 2nd quarter worth approximately $47,000. Finally, Harbor Investment Advisory LLC raised its stake in Lennar by 39.7% during the 3rd quarter. Harbor Investment Advisory LLC now owns 405 shares of the construction company’s stock valued at $51,000 after purchasing an additional 115 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LEN. Keefe, Bruyette & Woods lowered their price target on Lennar from $125.00 to $115.00 and set a “market perform” rating on the stock in a report on Thursday, December 18th. BTIG Research set a $90.00 price objective on Lennar in a research report on Thursday, December 18th. Citigroup reduced their price target on shares of Lennar from $133.00 to $113.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Argus upgraded shares of Lennar to a “strong-buy” rating in a report on Friday, January 16th. Finally, Royal Bank Of Canada set a $88.00 price objective on shares of Lennar in a research note on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have given a Hold rating and eight have assigned a Sell rating to the stock. Based on data from MarketBeat, Lennar presently has a consensus rating of “Reduce” and an average target price of $106.38.

Lennar Price Performance

NYSE LEN opened at $109.26 on Friday. The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $27.86 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 1.63 and a beta of 1.42. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $144.24. The company has a 50 day moving average price of $115.59 and a two-hundred day moving average price of $121.71.

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

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Wednesday, February 4th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, February 4th. Lennar’s dividend payout ratio is 25.03%.

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.