TD Waterhouse Canada Inc. Lowers Stock Position in Lennar Corporation $LEN

TD Waterhouse Canada Inc. cut its holdings in shares of Lennar Corporation (NYSE:LEN) by 39.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,436 shares of the construction company’s stock after selling 8,895 shares during the period. TD Waterhouse Canada Inc.’s holdings in Lennar were worth $1,170,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of LEN. Phillip James Consulting Co. purchased a new stake in Lennar during the first quarter valued at approximately $30,000. DV Equities LLC purchased a new position in Lennar in the fourth quarter worth $31,000. Global Assets Advisory LLC acquired a new position in shares of Lennar during the first quarter worth $39,000. Quarry LP purchased a new stake in shares of Lennar during the 4th quarter valued at $41,000. Finally, IFC & Insurance Marketing Inc. acquired a new stake in shares of Lennar in the 4th quarter worth $45,000. Institutional investors own 81.10% of the company’s stock.

Lennar Trading Down 3.6%

Lennar stock opened at $80.56 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.19. Lennar Corporation has a 52 week low of $79.82 and a 52 week high of $141.84. The company has a market capitalization of $19.41 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 2.78 and a beta of 1.39. The stock has a 50-day moving average price of $85.29 and a 200 day moving average price of $90.27.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.07. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The company had revenue of $7.94 billion for the quarter, compared to the consensus estimate of $8.08 billion. During the same quarter in the prior year, the company earned $1.81 EPS. Lennar’s quarterly revenue was down 5.2% on a year-over-year basis. Sell-side analysts anticipate that Lennar Corporation will post 5.52 EPS for the current year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were paid a $0.50 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. Lennar’s dividend payout ratio is presently 31.30%.

Analyst Upgrades and Downgrades

LEN has been the topic of several recent analyst reports. Evercore upped their target price on Lennar from $82.00 to $87.00 and gave the company an “underperform” rating in a research report on Monday, June 15th. Keefe, Bruyette & Woods dropped their price target on Lennar from $86.00 to $85.00 and set an “underperform” rating on the stock in a research note on Wednesday, June 17th. Argus set a $108.00 price objective on shares of Lennar in a research report on Thursday, July 9th. Zacks Research cut shares of Lennar from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Lennar from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $92.13.

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.