PCJ Investment Counsel Ltd. Purchases Shares of 6,000 Lennar Co. (NYSE:LEN)

PCJ Investment Counsel Ltd. acquired a new position in Lennar Co. (NYSE:LEN - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,000 shares of the construction company's stock, valued at approximately $1,125,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. D1 Capital Partners L.P. increased its stake in Lennar by 428.9% during the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company's stock worth $362,685,000 after acquiring an additional 1,962,447 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Lennar by 15.1% in the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company's stock valued at $452,886,000 after buying an additional 396,951 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Lennar during the 1st quarter worth approximately $61,807,000. KBC Group NV increased its holdings in Lennar by 258.3% in the 3rd quarter. KBC Group NV now owns 494,848 shares of the construction company's stock valued at $92,774,000 after purchasing an additional 356,731 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Lennar by 157.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company's stock worth $98,889,000 after purchasing an additional 351,698 shares in the last quarter. Institutional investors own 81.10% of the company's stock.

Lennar Trading Down 0.6 %

NYSE:LEN traded down $1.05 on Wednesday, reaching $167.70. The company's stock had a trading volume of 496,084 shares, compared to its average volume of 2,040,216. The firm has a market cap of $45.49 billion, a PE ratio of 11.18, a PEG ratio of 1.58 and a beta of 1.62. The business's 50-day moving average price is $178.87 and its two-hundred day moving average price is $169.16. Lennar Co. has a 1-year low of $125.17 and a 1-year high of $193.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, beating analysts' consensus estimates of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same quarter in the previous year, the company posted $3.91 EPS. The business's revenue was up 7.9% on a year-over-year basis. Equities research analysts anticipate that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 annualized dividend and a dividend yield of 1.19%. Lennar's dividend payout ratio (DPR) is presently 13.25%.

Insider Buying and Selling

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the transaction, the director now directly owns 23,689 shares in the company, valued at $4,148,654.57. The trade was a 42.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.36% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on LEN shares. Citigroup increased their price target on shares of Lennar from $164.00 to $196.00 and gave the company a "neutral" rating in a research report on Monday, September 23rd. Bank Of America (Bofa) boosted their target price on shares of Lennar from $171.00 to $190.00 and gave the company a "neutral" rating in a research note on Friday, September 20th. Wells Fargo & Company dropped their target price on shares of Lennar from $190.00 to $180.00 and set an "equal weight" rating on the stock in a report on Thursday, November 7th. Wedbush reaffirmed a "neutral" rating and set a $144.00 price objective on shares of Lennar in a research report on Friday, September 20th. Finally, Evercore ISI dropped their price objective 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. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $180.56.

Lennar Company 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.