Cim Investment Management Inc. Invests $802,000 in Lennar Co. (NYSE:LEN)

Cim Investment Management Inc. bought a new position in shares of Lennar Co. (NYSE:LEN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,068 shares of the construction company’s stock, valued at approximately $802,000.

Several other large investors have also bought and sold shares of LEN. Sandy Spring Bank bought a new stake in shares of Lennar during the second quarter worth about $25,000. Samalin Investment Counsel LLC bought a new stake in Lennar in the 2nd quarter worth about $25,000. Harbour Investments Inc. bought a new stake in Lennar in the 1st quarter worth about $27,000. KB Financial Partners LLC bought a new stake in Lennar in the 1st quarter worth about $28,000. Finally, Van ECK Associates Corp bought a new stake in Lennar in the 1st quarter worth about $32,000. 80.87% of the stock is owned by institutional investors.

Shares of LEN stock traded up $2.90 during trading on Thursday, reaching $97.95. 50,611 shares of the company’s stock traded hands, compared to its average volume of 2,428,434. The company has a market capitalization of $30.31 billion, a P/E ratio of 9.06 and a beta of 1.50. The company has a current ratio of 11.02, a quick ratio of 1.53 and a debt-to-equity ratio of 0.30. The firm’s 50-day moving average is $101.42 and its 200 day moving average is $100.58. Lennar Co. has a 1 year low of $69.41 and a 1 year high of $110.61.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Sunday, September 19th. The construction company reported $4.52 EPS for the quarter, beating the Zacks’ consensus estimate of $3.27 by $1.25. The company had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $7.26 billion. Lennar had a net margin of 13.83% and a return on equity of 16.82%. Lennar’s revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.12 EPS. As a group, sell-side analysts predict that Lennar Co. will post 12.7 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 28th. Investors of record on Thursday, October 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Wednesday, October 13th. Lennar’s dividend payout ratio (DPR) is presently 12.99%.

A number of brokerages have issued reports on LEN. Raymond James upped their price objective on shares of Lennar from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, September 23rd. Evercore ISI upped their price objective on shares of Lennar from $121.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, June 18th. BTIG Research upped their price objective on shares of Lennar from $127.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday, September 22nd. Royal Bank of Canada boosted their target price on shares of Lennar from $100.00 to $102.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 22nd. Finally, JMP Securities boosted their target price on shares of Lennar from $120.00 to $130.00 and gave the company a “market outperform” rating in a research note on Friday, June 18th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $110.78.

Lennar Profile

Lennar Corp. is a homebuilder company, which engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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