Toronto Dominion Bank Increases Stake in Lennar Co. (NYSE:LEN)

Toronto Dominion Bank raised its holdings in Lennar Co. (NYSE:LEN) by 22.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 127,765 shares of the construction company’s stock after buying an additional 23,175 shares during the period. Toronto Dominion Bank’s holdings in Lennar were worth $17,423,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Crews Bank & Trust acquired a new stake in shares of Lennar in the fourth quarter valued at $25,000. Hurley Capital LLC acquired a new stake in Lennar in the 4th quarter valued at about $26,000. SBI Securities Co. Ltd. purchased a new position in shares of Lennar in the 4th quarter valued at about $28,000. Itau Unibanco Holding S.A. grew its position in shares of Lennar by 611.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 299 shares of the construction company’s stock worth $41,000 after buying an additional 257 shares in the last quarter. Finally, Mizuho Bank Ltd. purchased a new stake in shares of Lennar during the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Down 0.7%

LEN stock opened at $111.06 on Tuesday. The company has a market cap of $29.30 billion, a price-to-earnings ratio of 7.74, a price-to-earnings-growth ratio of 1.24 and a beta of 1.41. The company has a fifty day moving average price of $110.54 and a 200 day moving average price of $131.65. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. Lennar Co. has a 12 month low of $98.42 and a 12 month high of $187.61.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.44. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.44 billion. During the same period in the prior year, the company earned $2.57 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year. Sell-side analysts expect that Lennar Co. will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Wednesday, April 23rd. Lennar’s payout ratio is currently 14.57%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LEN shares. Wedbush reiterated a “neutral” rating and set a $158.00 price target on shares of Lennar in a report on Monday, March 17th. Keefe, Bruyette & Woods decreased their price objective on shares of Lennar from $141.00 to $128.00 and set a “market perform” rating for the company in a research report on Tuesday, March 25th. Barclays dropped their target price on Lennar from $121.00 to $110.00 and set an “equal weight” rating on the stock in a report on Monday, March 24th. Bank of America lowered their price objective on Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Finally, Royal Bank of Canada cut their target price on Lennar from $125.00 to $122.00 and set a “sector perform” rating on the stock in a research report on Monday, March 24th. Fifteen analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Lennar presently has a consensus rating of “Hold” and an average target price of $150.07.

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.