Credit Agricole S A Has $7.77 Million Stock Holdings in Lennar Corporation $LEN

Key Points

• Credit Agricole S A increased its holdings in Lennar Corporation by 6.8% in Q1, bringing its total investment to approximately $7.77 million in 67,709 shares.
• Several institutional investors recently acquired significant positions in Lennar, with Castlekeep Investment Advisors LLC leading with a new position valued at approximately $218.53 million.
• Lennar announced a quarterly dividend of $0.50 per share, representing a 1.5% dividend yield, with a low payout ratio of 16.54%.

Credit Agricole S A boosted its holdings in Lennar Corporation (NYSE:LEN - Free Report) by 6.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,709 shares of the construction company's stock after purchasing an additional 4,307 shares during the quarter. Credit Agricole S A's holdings in Lennar were worth $7,772,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Castlekeep Investment Advisors LLC bought a new position in Lennar in the fourth quarter valued at approximately $218,533,000. ANTIPODES PARTNERS Ltd bought a new position in Lennar in the first quarter valued at approximately $41,788,000. AustralianSuper Pty Ltd bought a new position in Lennar in the first quarter valued at approximately $37,055,000. Berkshire Asset Management LLC PA bought a new position in Lennar in the first quarter valued at approximately $33,394,000. Finally, D1 Capital Partners L.P. increased its position in Lennar by 67.3% during the 4th quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company's stock worth $88,116,000 after purchasing an additional 270,433 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Trading Down 1.0%

LEN opened at $129.05 on Friday. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $193.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. The firm has a market capitalization of $33.43 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 5.53 and a beta of 1.29. The company's 50 day moving average price is $115.53 and its two-hundred day moving average price is $114.21.

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

Lennar Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Barclays lowered their price objective on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. Bank of America lowered their price objective on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Wednesday, June 18th. UBS Group lowered their price objective on shares of Lennar from $164.00 to $146.00 and set a "buy" rating for the company in a research report on Wednesday, June 18th. Royal Bank Of Canada lowered their price objective on shares of Lennar from $122.00 to $98.00 and set a "sector perform" rating for the company in a research report on Wednesday, June 18th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a research report on Friday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and fourteen have issued a Hold rating to the company's stock. According to MarketBeat, Lennar currently has an average rating of "Hold" and an average 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.

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