Lennar Co. (NYSE:LEN) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc increased its holdings in shares of Lennar Co. (NYSE:LEN) by 6.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in LEN. Lakewood Asset Management LLC grew its stake in Lennar by 0.8% during the second quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock worth $1,407,000 after buying an additional 70 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its position in shares of Lennar by 1.5% during the second quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock worth $730,000 after purchasing an additional 73 shares in the last quarter. Aaron Wealth Advisors LLC lifted its position in shares of Lennar by 5.7% during the second quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock worth $207,000 after purchasing an additional 74 shares in the last quarter. Quotient Wealth Partners LLC lifted its position in shares of Lennar by 5.0% during the second quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock worth $231,000 after purchasing an additional 74 shares in the last quarter. Finally, Jupiter Wealth Management LLC lifted its position in shares of Lennar by 1.0% during the third quarter. Jupiter Wealth Management LLC now owns 7,667 shares of the construction company’s stock worth $1,437,000 after purchasing an additional 75 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LEN shares. Citigroup upped their target price on shares of Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Evercore ISI lowered their price objective on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research report on Monday, September 23rd. Barclays increased their price objective on shares of Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Finally, Keefe, Bruyette & Woods raised their price objective on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $180.56.

Lennar Stock Performance

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

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. During the same period last year, the company posted $3.91 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts expect that Lennar Co. will post 14.18 earnings per share for the current year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given 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 13.25%.

Insider Activity at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction dated Monday, October 28th. The stock was 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 in the company, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.36% of the stock is currently owned by corporate insiders.

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.