Zurcher Kantonalbank Zurich Cantonalbank Acquires 2,125 Shares of Lennar Co. (NYSE:LEN)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Lennar Co. (NYSE:LEN) by 4.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,929 shares of the construction company’s stock after acquiring an additional 2,125 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lennar were worth $7,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Rise Advisors LLC increased its stake in shares of Lennar by 484.0% in the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after acquiring an additional 121 shares in the last quarter. J.Safra Asset Management Corp purchased a new stake in Lennar during the 1st quarter valued at about $30,000. New Covenant Trust Company N.A. purchased a new stake in Lennar during the 1st quarter valued at about $32,000. Redmont Wealth Advisors LLC purchased a new stake in Lennar during the 1st quarter valued at about $35,000. Finally, Fortitude Family Office LLC grew its position in Lennar by 223.6% during the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after purchasing an additional 161 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on LEN. StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. Citigroup reaffirmed a “neutral” rating and set a $164.00 price target (down previously from $174.00) on shares of Lennar in a report on Tuesday, July 2nd. Royal Bank of Canada reaffirmed an “underperform” rating and set a $145.00 price target on shares of Lennar in a report on Thursday, June 20th. Wedbush raised shares of Lennar from an “underperform” rating to a “neutral” rating and set a $144.00 price target on the stock in a report on Tuesday, July 9th. Finally, Evercore ISI raised their price target on shares of Lennar from $237.00 to $240.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Lennar has a consensus rating of “Hold” and an average price target of $169.13.

Lennar Stock Performance

NYSE LEN traded down $1.19 on Friday, reaching $179.32. 354,224 shares of the stock were exchanged, compared to its average volume of 2,079,408. Lennar Co. has a one year low of $102.90 and a one year high of $186.60. The firm has a market capitalization of $49.24 billion, a PE ratio of 12.28, a PEG ratio of 1.60 and a beta of 1.60. The company’s 50-day simple moving average is $164.72 and its two-hundred day simple moving average is $160.68. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last released its earnings results on Monday, June 17th. The construction company reported $3.38 EPS for the quarter, topping analysts’ consensus estimates of $3.20 by $0.18. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The company had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.57 billion. Analysts expect that Lennar Co. will post 14.16 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, July 5th. Lennar’s payout ratio is currently 13.60%.

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.