Canandaigua National Trust Co of Florida Makes New Investment in Lennar Corporation $LEN

Key Points

• Canandaigua National Trust Co of Florida made a new investment in Lennar Corporation, purchasing 6,242 shares valued at approximately $690,000.
• Analysts have mixed views on Lennar, with ratings ranging from "Strong Buy" to "Sell", and current average price target set at $130.77.
• Lennar recently declared a quarterly dividend of $0.50 per share, representing an annualized dividend of $2.00 and a yield of 1.5%.

Canandaigua National Trust Co of Florida purchased a new position in shares of Lennar Corporation (NYSE:LEN - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,242 shares of the construction company's stock, valued at approximately $690,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Lennar by 1.2% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,719 shares of the construction company's stock valued at $886,000 after buying an additional 89 shares during the period. NorthRock Partners LLC raised its holdings in Lennar by 1.4% in the 1st quarter. NorthRock Partners LLC now owns 6,509 shares of the construction company's stock worth $747,000 after purchasing an additional 93 shares during the period. Valeo Financial Advisors LLC raised its holdings in Lennar by 1.1% in the 1st quarter. Valeo Financial Advisors LLC now owns 8,841 shares of the construction company's stock worth $1,015,000 after purchasing an additional 95 shares during the period. EP Wealth Advisors LLC raised its holdings in Lennar by 2.3% in the 1st quarter. EP Wealth Advisors LLC now owns 4,782 shares of the construction company's stock worth $549,000 after purchasing an additional 107 shares during the period. Finally, Mather Group LLC. raised its holdings in Lennar by 8.4% in the 1st quarter. Mather Group LLC. now owns 1,517 shares of the construction company's stock worth $174,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds own 81.10% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on LEN shares. Zelman & Associates cut Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. Wells Fargo & Company upped their price target on Lennar from $110.00 to $135.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 2nd. Barclays cut their price objective on Lennar from $110.00 to $95.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. Wall Street Zen lowered Lennar from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Finally, Zacks Research upgraded Lennar from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and fifteen have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $130.77.

Lennar Trading Down 2.1%

LEN opened at $137.19 on Monday. Lennar Corporation has a one year low of $98.42 and a one year high of $193.80. The stock has a market capitalization of $35.53 billion, a PE ratio of 11.35, a P/E/G ratio of 5.83 and a beta of 1.33. The business's 50 day moving average price is $124.07 and its 200 day moving average price is $115.53. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.49 and a current ratio of 3.65.

Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing analysts' consensus estimates of $1.94 by ($0.04). Lennar had a return on equity of 12.73% and a net margin of 9.20%.The firm had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.21 billion. During the same quarter last year, the company earned $3.45 earnings per share. The firm's revenue for the quarter was down 4.4% on a year-over-year basis. As a group, equities research analysts expect that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Thursday, July 3rd. Lennar's dividend payout ratio is 16.54%.

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.

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