CIBC Asset Management Inc Boosts Stock Holdings in Lennar Co. (NYSE:LEN)

CIBC Asset Management Inc boosted its position in Lennar Co. (NYSE:LEN) by 6.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,744 shares of the construction company’s stock after purchasing an additional 2,320 shares during the period. CIBC Asset Management Inc’s holdings in Lennar were worth $6,701,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Boston Partners lifted its stake in Lennar by 21.5% in the first quarter. Boston Partners now owns 23,775 shares of the construction company’s stock valued at $4,089,000 after purchasing an additional 4,207 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Lennar by 23,048.0% during the 3rd quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock valued at $28,209,000 after acquiring an additional 149,812 shares during the period. Fulton Bank N.A. bought a new stake in Lennar during the 2nd quarter valued at $477,000. Rockport Wealth LLC bought a new stake in Lennar during the 1st quarter valued at $512,000. Finally, Bayesian Capital Management LP bought a new stake in Lennar during the 1st quarter valued at $996,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the transaction, the director now owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This trade represents a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LEN. Wells Fargo & Company lowered their target price on shares of Lennar from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Evercore ISI decreased their price target on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a report on Monday, September 23rd. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Wedbush reaffirmed a “neutral” rating and issued a $144.00 price target on shares of Lennar in a report on Friday, September 20th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $180.56.

Lennar Price Performance

LEN stock opened at $168.85 on Monday. Lennar Co. has a 1 year low of $125.17 and a 1 year high of $193.80. The company has a market cap of $45.80 billion, a P/E ratio of 11.18, a PEG ratio of 1.58 and a beta of 1.62. The firm has a 50-day moving average of $179.35 and a 200 day moving average of $168.99. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. During the same period in the prior year, the firm earned $3.91 earnings per share. Lennar’s revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts forecast that Lennar Co. will post 14.18 EPS for the current year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is currently 13.25%.

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.