Toronto Dominion Bank Purchases 23,175 Shares of Lennar Co. (NYSE:LEN)

Toronto Dominion Bank lifted its stake in Lennar Co. (NYSE:LEN - Free Report) by 22.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 127,765 shares of the construction company's stock after purchasing an additional 23,175 shares during the quarter. Toronto Dominion Bank's holdings in Lennar were worth $17,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LEN. Merit Financial Group LLC raised its position in Lennar by 19.3% during the fourth quarter. Merit Financial Group LLC now owns 4,520 shares of the construction company's stock valued at $616,000 after acquiring an additional 731 shares in the last quarter. HB Wealth Management LLC raised its position in shares of Lennar by 2.0% in the fourth quarter. HB Wealth Management LLC now owns 5,121 shares of the construction company's stock valued at $698,000 after purchasing an additional 99 shares during the period. Ellsworth Advisors LLC raised its position in shares of Lennar by 1.6% in the fourth quarter. Ellsworth Advisors LLC now owns 16,459 shares of the construction company's stock valued at $2,244,000 after purchasing an additional 252 shares during the period. UMB Bank n.a. increased its position in Lennar by 56.7% during the fourth quarter. UMB Bank n.a. now owns 835 shares of the construction company's stock worth $114,000 after acquiring an additional 302 shares during the period. Finally, Central Bank & Trust Co. increased its position in Lennar by 6.1% during the fourth quarter. Central Bank & Trust Co. now owns 8,387 shares of the construction company's stock worth $1,144,000 after acquiring an additional 482 shares during the period. Institutional investors own 81.10% of the company's stock.

Lennar Stock Performance

Lennar stock traded down $0.39 during mid-day trading on Thursday, hitting $105.24. 2,061,453 shares of the company's stock traded hands, compared to its average volume of 2,626,114. The firm has a 50 day simple moving average of $110.16 and a two-hundred day simple moving average of $131.32. Lennar Co. has a fifty-two week low of $98.42 and a fifty-two week high of $187.61. The stock has a market cap of $27.76 billion, a price-to-earnings ratio of 7.34, 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.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share (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 business had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter last year, the firm posted $2.57 EPS. The company's quarterly revenue was up 4.4% on a year-over-year basis. On average, research analysts expect that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Wednesday, April 23rd. Lennar's payout ratio is 14.57%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lowered their price target on shares of Lennar from $120.00 to $110.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Wall Street Zen upgraded shares of Lennar from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Keefe, Bruyette & Woods reduced their price target on shares of Lennar from $141.00 to $128.00 and set a "market perform" rating on the stock in a research report on Tuesday, March 25th. Evercore ISI reiterated an "in-line" rating and set a $131.00 price target (down previously from $159.00) on shares of Lennar in a research report on Monday, March 24th. Finally, The Goldman Sachs Group dropped their price objective on Lennar from $141.00 to $120.00 and set a "neutral" rating for the company in a report on Tuesday, March 25th. Fifteen investment 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 company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average 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.