Lennar Co. (NYSE:LEN) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Posted by on Apr 22nd, 2023

Zurcher Kantonalbank Zurich Cantonalbank cut its position in Lennar Co. (NYSE:LEN – Get Rating) by 15.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,883 shares of the construction company’s stock after selling 7,803 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lennar were worth $3,790,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Exencial Wealth Advisors LLC increased its stake in Lennar by 3.3% in the 3rd quarter. Exencial Wealth Advisors LLC now owns 3,920 shares of the construction company’s stock valued at $292,000 after purchasing an additional 127 shares in the last quarter. Mutual Advisors LLC increased its position in shares of Lennar by 2.3% during the third quarter. Mutual Advisors LLC now owns 5,908 shares of the construction company’s stock worth $440,000 after acquiring an additional 131 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Lennar by 0.9% during the third quarter. Intech Investment Management LLC now owns 14,063 shares of the construction company’s stock worth $1,048,000 after acquiring an additional 131 shares during the last quarter. Industrial Alliance Investment Management Inc. increased its position in shares of Lennar by 2.2% during the third quarter. Industrial Alliance Investment Management Inc. now owns 6,730 shares of the construction company’s stock worth $502,000 after acquiring an additional 146 shares during the last quarter. Finally, Comerica Bank grew its stake in Lennar by 0.4% in the fourth quarter. Comerica Bank now owns 34,693 shares of the construction company’s stock worth $3,427,000 after purchasing an additional 153 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on LEN. Bank of America upgraded Lennar from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $92.00 to $102.00 in a research report on Wednesday, January 11th. Keefe, Bruyette & Woods boosted their target price on Lennar from $126.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, March 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $115.00 price target on shares of Lennar in a report on Thursday, March 16th. Credit Suisse Group boosted their target price on shares of Lennar from $88.00 to $96.00 and gave the company a “neutral” rating in a research note on Thursday, March 16th. Finally, StockNews.com raised shares of Lennar from a “hold” rating to a “buy” rating in a research note on Wednesday, April 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $105.21.

Lennar Stock Down 0.6 %

LEN opened at $111.20 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.82 and a quick ratio of 1.38. The company’s 50-day moving average is $101.66 and its 200 day moving average is $93.02. Lennar Co. has a fifty-two week low of $62.54 and a fifty-two week high of $113.90. The firm has a market capitalization of $32.18 billion, a P/E ratio of 6.89, a PEG ratio of 1.87 and a beta of 1.44.

Lennar (NYSE:LEN – Get Rating) last posted its quarterly earnings data on Wednesday, March 15th. The construction company reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.56. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $5.99 billion. Lennar had a net margin of 13.86% and a return on equity of 21.18%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.70 earnings per share. Research analysts expect that Lennar Co. will post 9.72 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 10th. Investors of record on Wednesday, April 26th will be paid a dividend of $0.375 per share. The ex-dividend date is Tuesday, April 25th. This represents a $1.50 annualized dividend and a yield of 1.35%. Lennar’s dividend payout ratio is currently 9.30%.

Insider Buying and Selling at Lennar

In other news, CFO Diane J. Bessette sold 9,289 shares of the business’s stock in a transaction that occurred on Thursday, March 23rd. The shares were sold at an average price of $103.16, for a total value of $958,253.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.53% of the stock is currently owned by company insiders.

About Lennar

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Lennar Corp. engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Central, Texas, and West, Financial Services, Multifamily, and Lennar Other. The Homebuilding East, Central, Texas, and West segment constructs and sells homes primarily for first-time, move-up, and active adult homebuyers primarily under the Lennar brand name.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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