Lennar Corporation (NYSE:LEN) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lessened its stake in shares of Lennar Corporation (NYSE:LEN - Free Report) by 95.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,593 shares of the construction company's stock after selling 74,392 shares during the period. Cullen Frost Bankers Inc.'s holdings in Lennar were worth $412,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Lennar by 2.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 208,763 shares of the construction company's stock worth $23,962,000 after purchasing an additional 4,332 shares during the period. Brown Advisory Inc. raised its holdings in shares of Lennar by 5.4% during the first quarter. Brown Advisory Inc. now owns 6,965 shares of the construction company's stock valued at $799,000 after purchasing an additional 354 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Lennar by 35.8% during the first quarter. Exchange Traded Concepts LLC now owns 2,695 shares of the construction company's stock valued at $309,000 after purchasing an additional 710 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Lennar by 10.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,377 shares of the construction company's stock valued at $1,006,000 after purchasing an additional 672 shares during the period. Finally, TrueMark Investments LLC bought a new stake in shares of Lennar during the fourth quarter worth about $1,331,000. Institutional investors own 81.10% of the company's stock.

Lennar Stock Down 0.0%

Shares of Lennar stock traded down $0.05 on Friday, reaching $109.65. The stock had a trading volume of 2,221,546 shares, compared to its average volume of 2,723,334. The company has a quick ratio of 0.49, a current ratio of 3.65 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $28.40 billion, a P/E ratio of 9.07, a P/E/G ratio of 4.65 and a beta of 1.33. The company has a 50 day moving average price of $109.52 and a 200 day moving average price of $116.31. Lennar Corporation has a 1 year low of $98.42 and a 1 year high of $187.61.

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

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Thursday, July 3rd. Lennar's dividend payout ratio is presently 16.54%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LEN. UBS Group decreased their target price on Lennar from $164.00 to $146.00 and set a "buy" rating for the company in a research report on Wednesday, June 18th. Zelman & Associates cut shares of Lennar from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 18th. Wall Street Zen cut shares of Lennar from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. The Goldman Sachs Group decreased their price objective on shares of Lennar from $141.00 to $120.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 25th. Finally, Royal Bank Of Canada reduced their price target 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. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $128.85.

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.