Credit Industriel ET Commercial Purchases New Stake in Lennar Co. (NYSE:LEN)

Credit Industriel ET Commercial bought a new position in shares of Lennar Co. (NYSE:LEN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,477 shares of the construction company's stock, valued at approximately $1,565,000.

Other large investors have also modified their holdings of the company. Polianta Ltd bought a new stake in shares of Lennar in the 4th quarter worth approximately $900,000. Nordea Investment Management AB raised its position in shares of Lennar by 21.4% during the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company's stock worth $308,696,000 after purchasing an additional 397,492 shares during the period. Pacer Advisors Inc. lifted its stake in Lennar by 22.0% during the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company's stock valued at $446,110,000 after buying an additional 589,553 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Lennar by 51.8% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 26,382 shares of the construction company's stock valued at $3,597,000 after purchasing an additional 9,000 shares during the period. Finally, Clear Harbor Asset Management LLC boosted its position in shares of Lennar by 25.0% in the fourth quarter. Clear Harbor Asset Management LLC now owns 16,501 shares of the construction company's stock worth $2,250,000 after buying an additional 3,303 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Price Performance

LEN stock traded down $0.35 during trading on Tuesday, hitting $107.80. The company had a trading volume of 774,461 shares, compared to its average volume of 2,557,916. The company has a fifty day moving average price of $114.19 and a two-hundred day moving average price of $138.77. Lennar Co. has a fifty-two week low of $98.42 and a fifty-two week high of $187.61. The company has a market cap of $28.44 billion, a P/E ratio of 7.51, a P/E/G ratio of 1.24 and a beta of 1.51. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN - Get Free Report) last posted its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.44. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.57 EPS. Equities research analysts expect that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.86%. Lennar's dividend payout ratio is 14.57%.

Wall Street Analyst Weigh In

LEN has been the subject of a number of research reports. Seaport Res Ptn upgraded Lennar from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Royal Bank of Canada dropped their price objective on Lennar from $125.00 to $122.00 and set a "sector perform" rating on the stock in a report on Monday, March 24th. Citigroup decreased their target price on shares of Lennar from $196.00 to $150.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Bank of America cut their price target on shares of Lennar from $140.00 to $130.00 and set a "neutral" rating on the stock in a report on Tuesday, March 18th. Finally, Wedbush reiterated a "neutral" rating and issued a $158.00 price objective on shares of Lennar in a report on Monday, March 17th. Fifteen investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus 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.