Lennar Corporation (NYSE:LEN) Shares Acquired by Scotia Capital Inc.

Key Points

• Scotia Capital Inc. increased its stake in Lennar Corporation by 10.0% during the 1st quarter, holding 25,412 shares valued at $2.92 million.
• Lennar reported Q2 earnings of $1.90 per share, missing estimates, while its revenue of $8.38 billion exceeded expectations but was down 4.4% year-over-year.
• The company recently announced a quarterly dividend of $0.50 per share, representing an annualized yield of 1.7% with a payout ratio of 16.54%.

Scotia Capital Inc. raised its holdings in Lennar Corporation (NYSE:LEN - Free Report) by 10.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,412 shares of the construction company's stock after purchasing an additional 2,319 shares during the quarter. Scotia Capital Inc.'s holdings in Lennar were worth $2,917,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Lennar by 27.9% during the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company's stock worth $236,000 after acquiring an additional 377 shares during the period. World Investment Advisors increased its position in shares of Lennar by 25.0% during the fourth quarter. World Investment Advisors now owns 1,671 shares of the construction company's stock worth $228,000 after purchasing an additional 334 shares in the last quarter. Bank of Nova Scotia lifted its stake in Lennar by 120.8% in the fourth quarter. Bank of Nova Scotia now owns 223,311 shares of the construction company's stock valued at $30,453,000 after buying an additional 122,169 shares during the last quarter. Capula Management Ltd purchased a new position in Lennar during the 4th quarter worth $3,323,000. Finally, German American Bancorp Inc. raised its stake in Lennar by 1.0% during the 4th quarter. German American Bancorp Inc. now owns 32,496 shares of the construction company's stock valued at $4,431,000 after acquiring an additional 306 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Trading Up 1.2%

NYSE:LEN traded up $1.40 during mid-day trading on Friday, reaching $120.91. The company's stock had a trading volume of 2,093,620 shares, compared to its average volume of 2,743,458. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $193.80. The company's fifty day simple moving average is $112.01 and its two-hundred day simple moving average is $114.47. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. The stock has a market cap of $31.32 billion, a P/E ratio of 10.00, a P/E/G ratio of 5.07 and a beta of 1.29.

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

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.00 annualized dividend and a dividend yield of 1.7%. Lennar's dividend payout ratio is presently 16.54%.

Analyst Upgrades and Downgrades

LEN has been the subject of a number of analyst reports. Barclays cut their price objective on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. Royal Bank Of Canada decreased their price objective on shares of Lennar from $122.00 to $98.00 and set a "sector perform" rating on the stock in a research report on Wednesday, June 18th. Bank of America dropped their price target on Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Wednesday, June 18th. Zelman & Associates cut Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. Finally, JMP Securities decreased their price objective on Lennar from $150.00 to $130.00 and set a "market outperform" rating on the stock in a research note on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $128.85.

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.