Lennar Co. (NYSE:LEN) Shares Bought by ING Groep NV

ING Groep NV boosted its holdings in shares of Lennar Co. (NYSE:LEN) by 319.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 135,701 shares of the construction company’s stock after purchasing an additional 103,375 shares during the period. ING Groep NV’s holdings in Lennar were worth $18,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Moors & Cabot Inc. increased its stake in shares of Lennar by 2.2% during the third quarter. Moors & Cabot Inc. now owns 3,075 shares of the construction company’s stock worth $577,000 after purchasing an additional 66 shares in the last quarter. Centaurus Financial Inc. increased its stake in shares of Lennar by 2.5% during the third quarter. Centaurus Financial Inc. now owns 2,937 shares of the construction company’s stock worth $551,000 after purchasing an additional 71 shares in the last quarter. Commerce Bank grew its stake in Lennar by 0.5% during the 3rd quarter. Commerce Bank now owns 15,074 shares of the construction company’s stock valued at $2,826,000 after acquiring an additional 74 shares in the last quarter. Jupiter Wealth Management LLC grew its stake in Lennar by 1.0% during the 3rd quarter. Jupiter Wealth Management LLC now owns 7,667 shares of the construction company’s stock valued at $1,437,000 after acquiring an additional 75 shares in the last quarter. Finally, Armstrong Advisory Group Inc. grew its stake in Lennar by 69.4% during the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after acquiring an additional 75 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LEN. Royal Bank of Canada dropped their price objective on shares of Lennar from $130.00 to $125.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Citigroup dropped their price objective on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. The Goldman Sachs Group dropped their price objective on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday, December 23rd. Wolfe Research cut shares of Lennar from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Finally, Bank of America dropped their price target on shares of Lennar from $150.00 to $140.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Lennar has a consensus rating of “Hold” and a consensus price target of $163.88.

Lennar Price Performance

Lennar stock opened at $122.62 on Friday. The firm has a market cap of $32.56 billion, a PE ratio of 8.55, a price-to-earnings-growth ratio of 1.24 and a beta of 1.67. Lennar Co. has a 52-week low of $117.90 and a 52-week high of $193.80. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $134.44 and its two-hundred day moving average is $161.76.

Lennar (NYSE:LEN) last released its earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). The business had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. Lennar’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter last year, the company earned $4.82 earnings per share. 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, February 12th. Stockholders of record on Wednesday, January 29th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.63%. Lennar’s payout ratio is 13.95%.

About Lennar

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.