Zurcher Kantonalbank Zurich Cantonalbank Raises Position in Lennar Co. (NYSE:LEN)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Lennar Co. (NYSE:LEN - Free Report) by 9.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,095 shares of the construction company's stock after purchasing an additional 4,448 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Lennar were worth $6,831,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of LEN. Axxcess Wealth Management LLC purchased a new position in Lennar in the 3rd quarter valued at approximately $532,000. Ashton Thomas Securities LLC purchased a new position in Lennar in the 3rd quarter valued at approximately $52,000. Prime Capital Investment Advisors LLC grew its stake in Lennar by 10.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 4,193 shares of the construction company's stock valued at $786,000 after buying an additional 389 shares in the last quarter. KBC Group NV grew its stake 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 buying an additional 356,731 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its stake in Lennar by 101.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 8,673 shares of the construction company's stock valued at $1,626,000 after buying an additional 4,363 shares in the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on LEN. Bank of America cut their price target on shares of Lennar from $150.00 to $140.00 and set a "neutral" rating for the company in a report on Monday, January 27th. JPMorgan Chase & Co. cut their price target on shares of Lennar from $192.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, December 13th. Seaport Res Ptn raised shares of Lennar from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. The Goldman Sachs Group cut their price target on shares of Lennar from $190.00 to $162.00 and set a "neutral" rating for the company in a report on Monday, December 23rd. Finally, Barclays cut their price target on shares of Lennar from $135.00 to $121.00 and set an "equal weight" rating for the company in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $163.19.

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Lennar Price Performance

Shares of NYSE:LEN opened at $116.33 on Friday. The stock has a market cap of $30.89 billion, a PE ratio of 8.11, a PEG ratio of 1.24 and a beta of 1.69. The company's fifty day moving average is $127.88 and its 200 day moving average is $156.13. Lennar Co. has a 52 week low of $115.61 and a 52 week high of $187.61. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN - Get Free Report) last issued its earnings results on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing analysts' consensus estimates of $4.15 by ($0.12). The business had revenue of $9.95 billion during the quarter, compared to analysts' expectations of $10.06 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. Lennar's revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.82 EPS. Research analysts anticipate that Lennar Co. will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Wednesday, January 29th. Lennar's payout ratio is 13.95%.

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.

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