TD Asset Management Inc Has $13.64 Million Position in Lennar Corporation (NYSE:LEN)

Key Points

• TD Asset Management Inc has reduced its holdings in Lennar Corporation by 10.1%, now owning 118,839 shares valued at $13.64 million.
• Lennar Corporation reported earnings of $1.90 per share in its latest quarterly results, missing estimates and reflecting a 4.4% year-over-year revenue decline.
• The company's stock is currently trading down by 2.9%, with a market capitalization of approximately $29.14 billion and a consensus "Hold" rating from analysts.

TD Asset Management Inc lowered its position in Lennar Corporation (NYSE:LEN - Free Report) by 10.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 118,839 shares of the construction company's stock after selling 13,405 shares during the period. TD Asset Management Inc's holdings in Lennar were worth $13,640,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in LEN. Hurley Capital LLC acquired a new position in shares of Lennar during the 4th quarter worth approximately $26,000. Ameriflex Group Inc. acquired a new position in shares of Lennar during the 4th quarter worth approximately $30,000. Opal Wealth Advisors LLC acquired a new position in shares of Lennar during the 1st quarter worth approximately $30,000. NBC Securities Inc. acquired a new position in shares of Lennar during the 1st quarter worth approximately $33,000. Finally, Franchise Capital Ltd acquired a new position in shares of Lennar during the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Stock Performance

Shares of NYSE:LEN traded up $3.79 during trading on Friday, reaching $115.97. 3,639,324 shares of the company's stock traded hands, compared to its average volume of 2,828,674. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $193.80. The company has a 50 day moving average of $110.63 and a 200-day moving average of $115.14. The stock has a market capitalization of $30.04 billion, a P/E ratio of 9.59, a price-to-earnings-growth ratio of 4.76 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 EPS 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 firm had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.21 billion. During the same quarter last year, the company posted $3.45 EPS. Lennar's revenue for the quarter was down 4.4% on a year-over-year basis. On average, equities analysts expect that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Zelman & Associates downgraded Lennar from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 18th. Keefe, Bruyette & Woods lowered their target price on shares of Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a research note on Friday, June 20th. Wedbush reaffirmed a "neutral" rating and issued a $130.00 target price on shares of Lennar in a research note on Wednesday, June 18th. Evercore ISI lowered their target price on shares of Lennar from $131.00 to $114.00 and set an "in-line" rating for the company in a research note on Wednesday, June 18th. Finally, Bank of America lowered their price objective on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, June 18th. 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $128.85.

Lennar 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.