Mackenzie Financial Corp Raises Stock Holdings in Lennar Co. (NYSE:LEN)

Mackenzie Financial Corp increased its stake in Lennar Co. (NYSE:LEN - Free Report) by 29.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,165 shares of the construction company's stock after acquiring an additional 26,225 shares during the period. Mackenzie Financial Corp's holdings in Lennar were worth $15,091,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in LEN. Castlekeep Investment Advisors LLC purchased a new position in shares of Lennar during the fourth quarter valued at approximately $1,592,000. Toronto Dominion Bank increased its stake in Lennar by 22.2% in the fourth quarter. Toronto Dominion Bank now owns 127,765 shares of the construction company's stock worth $17,423,000 after purchasing an additional 23,175 shares during the period. Neo Ivy Capital Management lifted its position in shares of Lennar by 276.6% during the fourth quarter. Neo Ivy Capital Management now owns 27,231 shares of the construction company's stock worth $3,713,000 after purchasing an additional 20,001 shares during the last quarter. Vise Technologies Inc. boosted its stake in shares of Lennar by 120.1% during the fourth quarter. Vise Technologies Inc. now owns 8,300 shares of the construction company's stock valued at $1,132,000 after purchasing an additional 4,529 shares during the period. Finally, JT Stratford LLC grew its holdings in shares of Lennar by 5.7% in the fourth quarter. JT Stratford LLC now owns 16,843 shares of the construction company's stock worth $2,297,000 after purchasing an additional 913 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Lennar Stock Up 0.7%

NYSE LEN traded up $0.77 during trading on Thursday, hitting $106.02. The company's stock had a trading volume of 2,230,357 shares, compared to its average volume of 2,632,117. Lennar Co. has a fifty-two week low of $98.42 and a fifty-two week high of $187.61. The company has a market cap of $27.97 billion, a PE ratio of 7.39, a P/E/G ratio of 1.24 and a beta of 1.41. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The business's 50 day simple moving average is $108.87 and its 200-day simple moving average is $129.01.

Lennar (NYSE:LEN - Get Free Report) last released its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.44. The company had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. Lennar's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.57 EPS. On average, equities analysts anticipate that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Wednesday, April 23rd. Lennar's dividend payout ratio (DPR) is currently 14.57%.

Analysts Set New Price Targets

A number of equities analysts have commented on LEN shares. Bank of America dropped their target price on shares of Lennar from $140.00 to $130.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 18th. Keefe, Bruyette & Woods decreased their target price on Lennar from $141.00 to $128.00 and set a "market perform" rating for the company in a research report on Tuesday, March 25th. UBS Group dropped their price target on Lennar from $183.00 to $164.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Evercore ISI restated an "in-line" rating and issued a $131.00 price objective (down from $159.00) on shares of Lennar in a report on Monday, March 24th. Finally, Wall Street Zen upgraded shares of Lennar from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Fifteen research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $150.07.

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.