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

Czech National Bank boosted its holdings in shares of Lennar Co. (NYSE:LEN) by 5.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 49,237 shares of the construction company’s stock after acquiring an additional 2,575 shares during the quarter. Czech National Bank’s holdings in Lennar were worth $9,231,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Abacus Planning Group Inc. raised its position in shares of Lennar by 4.9% in the 3rd quarter. Abacus Planning Group Inc. now owns 13,263 shares of the construction company’s stock worth $2,487,000 after acquiring an additional 624 shares in the last quarter. IMPACTfolio LLC bought a new position in Lennar in the third quarter worth about $209,000. Centaurus Financial Inc. lifted its position in shares of Lennar by 5.5% during the second quarter. Centaurus Financial Inc. now owns 2,866 shares of the construction company’s stock valued at $430,000 after buying an additional 149 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Lennar in the 2nd quarter valued at about $6,069,000. Finally, Clearbridge Investments LLC grew its position in shares of Lennar by 21.1% in the 2nd quarter. Clearbridge Investments LLC now owns 165,931 shares of the construction company’s stock worth $24,868,000 after buying an additional 28,938 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Down 0.4 %

Shares of LEN opened at $180.49 on Thursday. The company has a market capitalization of $49.56 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.71 and a beta of 1.61. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $193.80. The stock’s 50-day moving average price is $179.74 and its 200-day moving average price is $165.92. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 EPS 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 business had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter last year, the company earned $3.91 EPS. The business’s revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts predict that Lennar Co. will post 14.13 EPS for the current year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.11%. Lennar’s dividend payout ratio (DPR) is currently 13.60%.

Analyst Ratings Changes

Several equities research analysts have weighed in on LEN shares. Wells Fargo & Company downgraded shares of Lennar from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $205.00 to $190.00 in a research note on Monday. BTIG Research dropped their target price on Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. Keefe, Bruyette & Woods increased their price target on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. The Goldman Sachs Group lowered Lennar from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $180.00 to $174.00 in a research note on Monday, July 22nd. Finally, JMP Securities lifted their target price on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Lennar currently has a consensus rating of “Hold” and a consensus target price of $181.11.

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.