Commerzbank Aktiengesellschaft FI Makes New $301,000 Investment in Lennar Co. (NYSE:LEN)

Commerzbank Aktiengesellschaft FI acquired a new stake in Lennar Co. (NYSE:LEN) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,603 shares of the construction company’s stock, valued at approximately $301,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Boston Partners raised 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 buying an additional 4,207 shares during the period. Norden Group LLC acquired a new stake in Lennar during the 1st quarter valued at $5,592,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in Lennar by 544.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,248 shares of the construction company’s stock worth $5,890,000 after purchasing an additional 28,935 shares during the period. Fulton Bank N.A. acquired a new position in shares of Lennar in the second quarter valued at $477,000. Finally, Rockport Wealth LLC acquired a new stake in shares of Lennar during the 1st quarter worth about $512,000. 81.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LEN has been the topic of a number of research reports. Royal Bank of Canada upped their price target on shares of Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research note on Monday, September 23rd. Bank of America lifted their price target on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Argus boosted their price target on Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Wells Fargo & Company downgraded Lennar from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $205.00 to $190.00 in a report on Monday, October 7th. Finally, Raymond James downgraded shares of Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $181.11.

Lennar Stock Up 1.9 %

LEN stock opened at $175.94 on Friday. The stock has a market capitalization of $48.31 billion, a P/E ratio of 11.96, a price-to-earnings-growth ratio of 1.68 and a beta of 1.61. 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 50-day moving average price of $181.94 and a 200-day moving average price of $167.02. Lennar Co. has a 12 month low of $102.90 and a 12 month high of $193.80.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share 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 firm had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter in the previous year, the firm posted $3.91 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts anticipate that Lennar Co. will post 14.28 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is 13.60%.

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.