Caisse DE Depot ET Placement DU Quebec Has $62.55 Million Stock Holdings in Lennar Corporation $LEN

Key Points

• Caisse DE Depot ET Placement DU Quebec has reduced its stake in Lennar Corporation by 59%, holding 544,986 shares valued at approximately $62.55 million as of the latest quarter.
• Lennar reported a quarterly EPS of $1.90, falling short of analysts' expectations, while its revenue of $8.38 billion exceeded forecasts but was down 4.4% year-over-year.
• The company declared a quarterly dividend of $0.50 per share, which translates to an annual yield of 1.5% with a current dividend payout ratio of 16.54%.

Caisse DE Depot ET Placement DU Quebec lowered its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 59.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 544,986 shares of the construction company's stock after selling 784,742 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.21% of Lennar worth $62,553,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new position in Lennar in the 4th quarter valued at about $30,000. Opal Wealth Advisors LLC bought a new position in shares of Lennar during the first quarter worth approximately $30,000. NBC Securities Inc. acquired a new stake in Lennar during the 1st quarter worth approximately $33,000. Franchise Capital Ltd bought a new stake in Lennar in the 1st quarter valued at $38,000. Finally, Disciplina Capital Management LLC increased its position in Lennar by 179.8% during the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company's stock worth $38,000 after buying an additional 214 shares during the period. 81.10% of the stock is owned by institutional investors.

Lennar Stock Down 0.6%

Shares of NYSE:LEN opened at $134.88 on Tuesday. The firm has a market cap of $34.93 billion, a P/E ratio of 11.16, a P/E/G ratio of 5.76 and a beta of 1.29. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $193.80. The business has a fifty day simple moving average of $116.58 and a 200 day simple moving average of $114.17. The company has a quick ratio of 0.49, a current ratio of 3.65 and a debt-to-equity ratio of 0.12.

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

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Thursday, July 3rd. Lennar's dividend payout ratio (DPR) is presently 16.54%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LEN shares. Royal Bank Of Canada decreased their target price on shares of Lennar from $122.00 to $98.00 and set a "sector perform" rating on the stock in a research report on Wednesday, June 18th. JMP Securities reduced their price objective on Lennar from $150.00 to $130.00 and set a "market outperform" rating on the stock in a research note on Friday, June 20th. Keefe, Bruyette & Woods dropped their target price on shares of Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a report on Friday, June 20th. Evercore ISI decreased their price target on shares of Lennar from $131.00 to $114.00 and set an "in-line" rating on the stock in a report on Wednesday, June 18th. Finally, Wall Street Zen cut shares of Lennar from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, Lennar has an average rating of "Hold" and a consensus target price of $128.85.

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.

Want to see what other hedge funds are holding LEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lennar Corporation (NYSE:LEN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.