BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $1.18 Million Holdings in Lennar Corporation $LEN

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. has reduced its stake in Lennar Corporation (NYSE:LEN) by 33.7% to 10,296 shares, valued at approximately $1.18 million.
• Lennar reported a quarterly earnings per share of $1.90, falling short of the expected $1.94 per share, with a revenue of $8.38 billion for the quarter.
• The company's recent quarterly dividend was set at $0.50 per share, providing a yield of 1.5%, with a payout ratio of 16.54%.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its holdings in Lennar Corporation (NYSE:LEN - Free Report) by 33.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,296 shares of the construction company's stock after selling 5,232 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Lennar were worth $1,181,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Brighton Jones LLC boosted its holdings in shares of Lennar by 27.9% during the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company's stock worth $236,000 after purchasing an additional 377 shares during the period. Rockefeller Capital Management L.P. lifted its position in Lennar by 4.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 12,768 shares of the construction company's stock worth $1,749,000 after buying an additional 524 shares in the last quarter. GeoWealth Management LLC boosted its stake in shares of Lennar by 86.4% during the 4th quarter. GeoWealth Management LLC now owns 3,359 shares of the construction company's stock valued at $458,000 after buying an additional 1,557 shares during the period. Capital International Inc. CA grew its holdings in shares of Lennar by 38.1% during the 4th quarter. Capital International Inc. CA now owns 14,280 shares of the construction company's stock valued at $1,947,000 after acquiring an additional 3,937 shares in the last quarter. Finally, Norinchukin Bank The increased its stake in shares of Lennar by 8.3% in the fourth quarter. Norinchukin Bank The now owns 10,796 shares of the construction company's stock worth $1,472,000 after acquiring an additional 829 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Lennar Stock Performance

Lennar stock traded down $1.27 during trading hours on Thursday, reaching $129.05. 2,270,871 shares of the company were exchanged, compared to its average volume of 3,021,651. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $193.80. The company has a current ratio of 3.65, a quick ratio of 0.49 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average of $115.53 and a 200 day moving average of $114.21. The firm has a market cap of $33.43 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 5.53 and a beta of 1.29.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.04). The firm had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%.Lennar's quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.45 earnings per share. As a group, research analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. Lennar's payout ratio is 16.54%.

Analysts Set New Price Targets

LEN has been the topic of several research reports. JMP Securities dropped their target price on Lennar from $150.00 to $130.00 and set a "market outperform" rating on the stock in a research report on Friday, June 20th. Keefe, Bruyette & Woods lowered 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. Wedbush reaffirmed a "neutral" rating and set a $130.00 price objective on shares of Lennar in a research report on Wednesday, June 18th. Wall Street Zen downgraded shares of Lennar from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Finally, Zelman & Associates lowered shares of Lennar from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, Lennar presently 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.