Toronto Dominion Bank Sells 59,763 Shares of Lennar Co. (NYSE:LEN)

Toronto Dominion Bank decreased its position in Lennar Co. (NYSE:LEN - Free Report) by 39.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,592 shares of the construction company's stock after selling 59,763 shares during the quarter. Toronto Dominion Bank's holdings in Lennar were worth $13,877,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LEN. Lakewood Asset Management LLC grew its position in Lennar by 0.8% in the second quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company's stock valued at $1,407,000 after purchasing an additional 70 shares in the last quarter. NorthCrest Asset Manangement LLC increased its position in shares of Lennar by 1.5% in the second quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company's stock valued at $730,000 after acquiring an additional 73 shares during the last quarter. Aaron Wealth Advisors LLC raised its holdings in Lennar by 5.7% during the second quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company's stock worth $207,000 after acquiring an additional 74 shares in the last quarter. Quotient Wealth Partners LLC boosted its position in Lennar by 5.0% during the second quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company's stock valued at $231,000 after purchasing an additional 74 shares during the last quarter. Finally, BBR Partners LLC grew its stake in Lennar by 3.4% in the second quarter. BBR Partners LLC now owns 2,427 shares of the construction company's stock valued at $364,000 after purchasing an additional 79 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LEN has been the subject of several recent analyst reports. Keefe, Bruyette & Woods increased their price objective on Lennar from $183.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, September 4th. Evercore ISI cut their price target on shares of Lennar from $240.00 to $236.00 and set an "outperform" rating for the company in a research note on Monday, September 23rd. The Goldman Sachs Group lowered shares of Lennar from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $180.00 to $174.00 in a research note on Monday, July 22nd. Zelman & Associates upgraded shares of Lennar from a "neutral" rating to an "outperform" rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada boosted their price target on Lennar from $145.00 to $160.00 and gave the stock an "underperform" rating in a research report on Monday, September 23rd. 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. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $181.94.

Lennar Stock Performance

Shares of NYSE:LEN traded up $3.98 on Friday, reaching $187.03. 1,758,464 shares of the company's stock were exchanged, compared to its average volume of 2,084,684. Lennar Co. has a twelve month low of $102.90 and a twelve month high of $193.80. The company has a fifty day moving average of $178.25 and a 200-day moving average of $164.71. The company has a market capitalization of $51.36 billion, a price-to-earnings ratio of 12.71, a PEG 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 - Get Free Report) last posted 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. The firm had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company's revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $3.91 EPS. On average, research analysts predict that Lennar Co. will post 14.13 EPS for the current fiscal year.

Lennar Announces Dividend

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 paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.07%. Lennar's payout ratio is 13.60%.

Lennar Profile

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.