TD Waterhouse Canada Inc. Sells 6,136 Shares of Lennar Corporation $LEN

TD Waterhouse Canada Inc. lowered its position in Lennar Corporation (NYSE:LEN) by 36.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 10,723 shares of the construction company’s stock after selling 6,136 shares during the period. TD Waterhouse Canada Inc.’s holdings in Lennar were worth $1,225,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in Lennar in the second quarter valued at $33,000. Disciplina Capital Management LLC grew its holdings in Lennar by 179.8% during the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock worth $38,000 after acquiring an additional 214 shares during the period. Mid American Wealth Advisory Group Inc. bought a new position in shares of Lennar in the 2nd quarter worth about $43,000. SBI Securities Co. Ltd. boosted its position in shares of Lennar by 190.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 573 shares of the construction company’s stock valued at $63,000 after purchasing an additional 376 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Lennar during the 1st quarter valued at about $66,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Up 5.8%

Shares of NYSE LEN opened at $123.04 on Friday. 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 company has a 50-day moving average price of $124.17 and a 200-day moving average price of $119.57. The stock has a market capitalization of $31.38 billion, a P/E ratio of 12.16, a P/E/G ratio of 5.78 and a beta of 1.33. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $180.12.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, September 18th. The construction company reported $2.00 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.14). The business had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. Lennar’s revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.90 EPS. On average, equities research analysts forecast that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Friday, October 10th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, October 10th. This represents a $2.00 annualized dividend and a yield of 1.6%. Lennar’s dividend payout ratio is 19.76%.

Wall Street Analyst Weigh In

LEN has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Lennar in a report on Wednesday, October 8th. UBS Group lifted their price objective on shares of Lennar from $146.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Wedbush reiterated a “neutral” rating and set a $130.00 target price on shares of Lennar in a research report on Monday, September 22nd. Citigroup restated an “outperform” rating on shares of Lennar in a report on Monday, September 22nd. Finally, Raymond James Financial lowered shares of Lennar from a “market perform” rating to an “underperform” rating in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Lennar currently has an average rating of “Hold” and a consensus price target of $121.75.

Lennar 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.