Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Lennar Co. (NYSE:LEN)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Lennar Co. (NYSE:LEN) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,095 shares of the construction company’s stock after acquiring an additional 4,448 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lennar were worth $6,831,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Moors & Cabot Inc. increased its position in shares of Lennar by 2.2% in the third quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company’s stock valued at $577,000 after acquiring an additional 66 shares during the period. Centaurus Financial Inc. increased its position in shares of Lennar by 2.5% during the third quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company’s stock valued at $551,000 after buying an additional 71 shares during the period. Commerce Bank increased its position in shares of Lennar by 0.5% during the third quarter. Commerce Bank now owns 15,074 shares of the construction company’s stock valued at $2,826,000 after buying an additional 74 shares during the period. Armstrong Advisory Group Inc. increased its position in shares of Lennar by 69.4% during the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after buying an additional 75 shares during the period. Finally, Wolff Wiese Magana LLC increased its position in shares of Lennar by 51.0% during the fourth quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company’s stock valued at $32,000 after buying an additional 79 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

LEN has been the topic of several research analyst reports. Bank of America reduced their price target on shares of Lennar from $150.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Royal Bank of Canada reduced their price target on shares of Lennar from $130.00 to $125.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 6th. The Goldman Sachs Group reduced their price target on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, December 23rd. Wells Fargo & Company dropped their price objective on shares of Lennar from $145.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Finally, Seaport Res Ptn raised shares of Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $163.19.

Lennar Trading Down 2.2 %

Shares of NYSE LEN opened at $116.33 on Friday. The company has a market cap of $30.89 billion, a PE ratio of 8.11, a P/E/G ratio of 1.24 and a beta of 1.69. The firm’s 50 day moving average price is $127.88 and its 200-day moving average price is $156.13. Lennar Co. has a 52-week low of $115.61 and a 52-week high of $187.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). The company had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $10.06 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter last year, the company earned $4.82 EPS. On average, equities research analysts expect that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.72%. Lennar’s dividend payout ratio (DPR) is 13.95%.

About Lennar

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.