Zurcher Kantonalbank Zurich Cantonalbank Has $6.14 Million Holdings in Lennar Corporation (NYSE:LEN)

Key Points

• Zurcher Kantonalbank increased its stake in Lennar Corporation by 6.8%, acquiring an additional 3,398 shares, bringing its total holdings to 53,493 shares valued at approximately $6.14 million.
• Lennar's stock has experienced a decline, trading down 2.9%, with a current ratio of 3.65 and a market cap of $29.14 billion.
$1.90 EPS for the last quarter, missing consensus estimates, while also announcing a quarterly dividend of $0.50 with a payout ratio of 16.54%.

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Lennar Corporation (NYSE:LEN - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,493 shares of the construction company's stock after buying an additional 3,398 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Lennar were worth $6,140,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Hurley Capital LLC bought a new stake in shares of Lennar during the 4th quarter worth $26,000. Ameriflex Group Inc. bought a new stake in shares of Lennar during the 4th quarter worth $30,000. Opal Wealth Advisors LLC acquired a new position in Lennar in the 1st quarter worth about $30,000. NBC Securities Inc. acquired a new position in Lennar in the 1st quarter worth about $33,000. Finally, Itau Unibanco Holding S.A. increased its holdings in Lennar by 611.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 299 shares of the construction company's stock worth $41,000 after purchasing an additional 257 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Lennar Trading Up 3.4%

NYSE LEN traded up $3.79 during trading hours on Friday, hitting $115.97. 3,639,324 shares of the company's stock were exchanged, compared to its average volume of 2,828,674. The stock has a 50-day simple moving average of $110.63 and a 200 day simple moving average of $115.14. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $193.80. The firm has a market cap of $30.04 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 4.76 and a beta of 1.29. The company has a current ratio of 3.65, a quick ratio of 0.49 and a debt-to-equity ratio of 0.12.

Lennar (NYSE:LEN - Get Free Report) last released 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 business had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.21 billion. During the same period in the prior year, the business earned $3.45 EPS. The company's revenue for the quarter was down 4.4% on a year-over-year basis. On average, equities analysts forecast that Lennar Corporation 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 Friday, July 18th. Shareholders of record on Thursday, July 3rd were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, July 3rd. Lennar's dividend payout ratio (DPR) is 16.54%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JMP Securities lowered their target price on Lennar from $150.00 to $130.00 and set a "market outperform" rating for the company in a report on Friday, June 20th. Bank of America lowered their target price on Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a 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. Evercore ISI lowered their target price on Lennar from $131.00 to $114.00 and set an "in-line" rating for the company in a report on Wednesday, June 18th. Finally, Keefe, Bruyette & Woods decreased their price target on Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a research note on Friday, June 20th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Lennar currently 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.