Connor Clark & Lunn Investment Management Ltd. Invests $3.55 Million in Lennar Corporation (NYSE:LEN)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Lennar Corporation (NYSE:LEN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,882 shares of the construction company's stock, valued at approximately $3,545,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LEN. The Manufacturers Life Insurance Company boosted its holdings in shares of Lennar by 3.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company's stock valued at $834,115,000 after acquiring an additional 213,003 shares during the period. Castlekeep Investment Advisors LLC purchased a new position in Lennar during the 4th quarter valued at about $218,533,000. Eminence Capital LP increased its holdings in Lennar by 43.4% during the 4th quarter. Eminence Capital LP now owns 685,225 shares of the construction company's stock valued at $93,444,000 after acquiring an additional 207,343 shares in the last quarter. D1 Capital Partners L.P. increased its holdings in Lennar by 67.3% during the 4th quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company's stock valued at $88,116,000 after acquiring an additional 270,433 shares in the last quarter. Finally, Man Group plc increased its holdings in Lennar by 112.5% during the 4th quarter. Man Group plc now owns 506,722 shares of the construction company's stock valued at $69,102,000 after acquiring an additional 268,209 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LEN has been the subject of a number of recent research reports. Evercore ISI dropped their price objective on Lennar from $131.00 to $114.00 and set an "in-line" rating for the company in a research report on Wednesday, June 18th. JMP Securities dropped their price objective on Lennar from $150.00 to $130.00 and set a "market outperform" rating for the company in a research report on Friday, June 20th. Bank of America lowered their price target on Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, June 18th. Wall Street Zen cut Lennar from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Finally, Zelman & Associates cut Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lennar presently has an average rating of "Hold" and an average target price of $128.85.

Lennar Trading Up 1.2%

Shares of Lennar stock traded up $1.58 during trading on Friday, reaching $132.03. 5,172,248 shares of the company were exchanged, compared to its average volume of 2,904,637. The company has a quick ratio of 0.49, a current ratio of 3.65 and a debt-to-equity ratio of 0.12. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $193.80. The business has a 50-day moving average price of $113.98 and a 200-day moving average price of $114.08. The firm has a market capitalization of $34.20 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 5.60 and a beta of 1.29.

Lennar (NYSE:LEN - Get Free Report) last posted its earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.04). Lennar had a return on equity of 12.73% and a net margin of 9.20%. The business had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. During the same quarter in the prior year, the firm posted $3.45 earnings per share. The business's revenue was down 4.4% on a year-over-year basis. Sell-side analysts anticipate that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

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

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.