Czech National Bank Acquires 2,575 Shares of Lennar Co. (NYSE:LEN)

Czech National Bank raised its position in shares of Lennar Co. (NYSE:LEN) by 5.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,237 shares of the construction company’s stock after purchasing an additional 2,575 shares during the quarter. Czech National Bank’s holdings in Lennar were worth $9,231,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Boston Partners increased its stake in Lennar by 21.5% during the 1st quarter. Boston Partners now owns 23,775 shares of the construction company’s stock valued at $4,089,000 after purchasing an additional 4,207 shares in the last quarter. Integrated Advisors Network LLC increased its stake in Lennar by 177.3% during the 4th quarter. Integrated Advisors Network LLC now owns 31,258 shares of the construction company’s stock valued at $4,659,000 after purchasing an additional 19,985 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services increased its stake in Lennar by 331.8% during the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 12,033 shares of the construction company’s stock valued at $2,069,000 after purchasing an additional 9,246 shares in the last quarter. Grayhawk Investment Strategies Inc. purchased a new stake in shares of Lennar during the 4th quarter valued at about $838,000. Finally, Norden Group LLC purchased a new stake in shares of Lennar during the 1st quarter valued at about $5,592,000. 81.10% of the stock is currently owned by institutional investors.

Lennar Price Performance

LEN traded down $4.65 during trading hours on Friday, hitting $182.25. The company’s stock had a trading volume of 2,423,118 shares, compared to its average volume of 2,077,726. The business’s 50-day moving average price is $179.65 and its 200-day moving average price is $165.65. Lennar Co. has a 12 month low of $102.90 and a 12 month high of $193.80. The stock has a market cap of $50.05 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.71 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.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping the consensus estimate of $3.62 by $0.28. The company had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. Lennar’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.91 earnings per share. Sell-side analysts expect that Lennar Co. will post 14.13 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Wednesday, October 9th. Lennar’s payout ratio is presently 13.60%.

Wall Street Analyst Weigh In

LEN has been the topic of a number of recent analyst reports. Evercore ISI dropped their price target on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a report on Monday, September 23rd. Wells Fargo & Company raised their price target on shares of Lennar from $195.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Wedbush reissued a “neutral” rating and issued a $144.00 price objective on shares of Lennar in a report on Friday, September 20th. Citigroup raised their price objective on shares of Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, The Goldman Sachs Group downgraded shares of Lennar from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $180.00 to $174.00 in a report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $181.94.

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.