ING Groep NV Purchases 103,375 Shares of Lennar Co. (NYSE:LEN)

ING Groep NV boosted its position in Lennar Co. (NYSE:LEN) by 319.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,701 shares of the construction company’s stock after purchasing an additional 103,375 shares during the period. ING Groep NV owned approximately 0.05% of Lennar worth $18,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Freedom Day Solutions LLC lifted its stake in Lennar by 13.4% in the fourth quarter. Freedom Day Solutions LLC now owns 17,248 shares of the construction company’s stock worth $2,352,000 after purchasing an additional 2,043 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Lennar by 6.5% during the fourth quarter. Private Advisor Group LLC now owns 7,115 shares of the construction company’s stock valued at $970,000 after acquiring an additional 432 shares in the last quarter. Lyell Wealth Management LP raised its stake in shares of Lennar by 5.8% during the fourth quarter. Lyell Wealth Management LP now owns 83,161 shares of the construction company’s stock valued at $11,341,000 after acquiring an additional 4,538 shares in the last quarter. Kestra Investment Management LLC bought a new stake in shares of Lennar during the fourth quarter valued at approximately $49,000. Finally, CIBC Asset Management Inc raised its stake in shares of Lennar by 3.5% during the fourth quarter. CIBC Asset Management Inc now owns 37,007 shares of the construction company’s stock valued at $5,047,000 after acquiring an additional 1,263 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

NYSE LEN opened at $122.62 on Friday. Lennar Co. has a 12-month low of $117.90 and a 12-month high of $193.80. The firm’s fifty day simple moving average is $134.44 and its two-hundred day simple moving average is $161.76. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $32.56 billion, a P/E ratio of 8.55, a P/E/G ratio of 1.24 and a beta of 1.67.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing the consensus estimate of $4.15 by ($0.12). Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same quarter in the previous year, the firm posted $4.82 earnings per share. The company’s quarterly revenue was down 9.3% on a year-over-year basis. Analysts forecast that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.63%. Lennar’s payout ratio is currently 13.95%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Wells Fargo & Company decreased their price target on shares of Lennar from $145.00 to $130.00 and set an “equal weight” rating for the company in a research note on Tuesday. Barclays decreased their price target on shares of Lennar from $135.00 to $121.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. UBS Group cut their price objective on shares of Lennar from $205.00 to $192.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Bank of America cut their price objective on shares of Lennar from $150.00 to $140.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $163.88.

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.