Toronto Dominion Bank Increases Stock Position in Lennar Co. (NYSE:LEN)

Toronto Dominion Bank boosted its position in Lennar Co. (NYSE:LEN - Free Report) by 22.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 127,765 shares of the construction company's stock after purchasing an additional 23,175 shares during the period. Toronto Dominion Bank's holdings in Lennar were worth $17,423,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Neo Ivy Capital Management grew its holdings in Lennar by 276.6% during the fourth quarter. Neo Ivy Capital Management now owns 27,231 shares of the construction company's stock valued at $3,713,000 after purchasing an additional 20,001 shares during the period. Vise Technologies Inc. increased its holdings in Lennar by 120.1% in the 4th quarter. Vise Technologies Inc. now owns 8,300 shares of the construction company's stock worth $1,132,000 after acquiring an additional 4,529 shares in the last quarter. JT Stratford LLC lifted its holdings in Lennar by 5.7% during the fourth quarter. JT Stratford LLC now owns 16,843 shares of the construction company's stock valued at $2,297,000 after purchasing an additional 913 shares in the last quarter. Waverly Advisors LLC bought a new position in shares of Lennar in the fourth quarter worth approximately $329,000. Finally, Woodline Partners LP purchased a new stake in shares of Lennar in the fourth quarter worth $1,956,000. Hedge funds and other institutional investors own 81.10% of the company's stock.

Lennar Trading Down 0.1%

Shares of NYSE:LEN traded down $0.09 during trading hours on Friday, hitting $105.98. 3,356,757 shares of the company's stock traded hands, compared to its average volume of 2,628,565. The firm has a market capitalization of $27.96 billion, a P/E ratio of 7.39, a price-to-earnings-growth ratio of 1.24 and a beta of 1.41. The business has a fifty day moving average price of $108.40 and a 200-day moving average price of $127.87. Lennar Co. has a 1 year low of $98.42 and a 1 year high of $187.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, beating the consensus estimate of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter in the prior year, the company posted $2.57 EPS. Lennar's quarterly revenue was up 4.4% on a year-over-year basis. Equities analysts expect that Lennar Co. will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.89%. Lennar's payout ratio is 14.57%.

Analysts Set New Price Targets

A number of brokerages have issued reports on LEN. Wall Street Zen upgraded Lennar from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Wedbush reissued a "neutral" rating and set a $158.00 target price on shares of Lennar in a research note on Monday, March 17th. Wells Fargo & Company cut their price objective on shares of Lennar from $120.00 to $110.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Keefe, Bruyette & Woods lowered their target price on shares of Lennar from $141.00 to $128.00 and set a "market perform" rating on the stock in a report on Tuesday, March 25th. Finally, The Goldman Sachs Group dropped their target price on shares of Lennar from $141.00 to $120.00 and set a "neutral" rating for the company in a research report on Tuesday, March 25th. Fifteen analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently 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.