TD Asset Management Inc Decreases Stake in Lennar Corporation $LEN

TD Asset Management Inc lowered its holdings in Lennar Corporation (NYSE:LEN) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,378 shares of the construction company’s stock after selling 5,798 shares during the period. TD Asset Management Inc’s holdings in Lennar were worth $10,319,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc lifted its stake in Lennar by 56.7% in the fourth quarter. CIBC Asset Management Inc now owns 51,149 shares of the construction company’s stock valued at $5,258,000 after purchasing an additional 18,499 shares during the last quarter. Marble Wealth LLC bought a new stake in shares of Lennar in the fourth quarter valued at $348,000. AXQ Capital LP raised its stake in shares of Lennar by 517.7% in the fourth quarter. AXQ Capital LP now owns 23,213 shares of the construction company’s stock valued at $2,386,000 after buying an additional 19,455 shares during the period. New Mexico Educational Retirement Board lifted its position in shares of Lennar by 1.0% during the 4th quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company’s stock valued at $1,086,000 after buying an additional 100 shares during the last quarter. Finally, Waterloo Capital L.P. grew its stake in shares of Lennar by 14.0% during the 4th quarter. Waterloo Capital L.P. now owns 9,993 shares of the construction company’s stock worth $1,027,000 after acquiring an additional 1,230 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Lennar Price Performance

Shares of NYSE:LEN opened at $92.63 on Wednesday. The company has a 50 day moving average of $89.02 and a 200 day moving average of $103.84. The company has a current ratio of 4.77, a quick ratio of 0.97 and a debt-to-equity ratio of 0.18. The stock has a market cap of $22.88 billion, a P/E ratio of 13.31, a P/E/G ratio of 2.00 and a beta of 1.39. Lennar Corporation has a 12 month low of $81.18 and a 12 month high of $144.24.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.07). Lennar had a net margin of 5.39% and a return on equity of 7.80%. The firm had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the previous year, the business earned $2.14 earnings per share. The firm’s revenue for the quarter was down 13.3% on a year-over-year basis. As a group, sell-side analysts forecast that Lennar Corporation will post 5.87 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Wednesday, April 22nd. Lennar’s dividend payout ratio is currently 28.74%.

Analysts Set New Price Targets

LEN has been the topic of several recent research reports. Citigroup dropped their price objective on shares of Lennar from $113.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, March 17th. Wells Fargo & Company dropped their price target on shares of Lennar from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Seaport Research Partners reaffirmed a “sell” rating and issued a $74.00 price objective (down from $140.00) on shares of Lennar in a report on Tuesday, April 7th. Keefe, Bruyette & Woods cut shares of Lennar from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $97.00 to $86.00 in a report on Tuesday. Finally, Evercore dropped their target price on Lennar from $89.00 to $82.00 and set an “underperform” rating on the stock in a research report on Monday, April 13th. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat, Lennar has a consensus rating of “Reduce” and an average price target of $98.00.

Key Headlines Impacting Lennar

Here are the key news stories impacting Lennar this week:

• Positive Sentiment: Lennar sold Raleigh townhomes to an investor, reinforcing demand for rental housing and showing the company can monetize completed projects even in a tougher housing market. Lennar sells Raleigh townhomes to California investor as rental demand surges
• Positive Sentiment: Ongoing planning progress for the Cortlandt townhomes suggests Lennar continues to advance its land and community-development pipeline, which supports future growth. VS and Lennar move forward with planning for Cortlandt townhomes
• Neutral Sentiment: Several recent articles focus on Lennar’s valuation, margin pressure, and upcoming earnings expectations, keeping attention on whether the stock is fairly priced ahead of the next results. Evaluating Lennar (LEN) As Shares Trade Near Analyst Fair Value Estimates
• Neutral Sentiment: Industry commentary continues to point to the housing “lock-in effect,” which could help homebuilders like Lennar if lower rates improve affordability and unlock more demand. The Lock-In Effect Is Real—These 3 Homebuilders Are Betting on It (LEN)
• Negative Sentiment: Keefe, Bruyette & Woods downgraded Lennar from “market perform” to “underperform” and cut its price target to $86 from $97, signaling concern about limited upside and possible margin pressure. KBW downgrades Lennar

Lennar Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.