ING Groep NV Purchases Shares of 11,883 Lennar Corporation $LEN

Key Points

• ING Groep NV initiated a new position in Lennar during the fourth quarter, buying 11,883 shares worth about $1.22 million.
• Institutional ownership remains high, with hedge funds and other investors holding about 81.1% of Lennar’s stock, and several firms recently increased their stakes.
• Lennar’s latest quarterly results missed expectations, with EPS of $0.88 versus $0.95 expected and revenue down 13.3% year over year, while analysts currently lean cautious with a consensus rating of “Reduce”.

ING Groep NV purchased a new stake in shares of Lennar Corporation (NYSE:LEN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,883 shares of the construction company's stock, valued at approximately $1,222,000.

Several other large investors have also added to or reduced their stakes in LEN. Brighton Jones LLC lifted its holdings in shares of Lennar by 27.9% in the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company's stock worth $236,000 after buying an additional 377 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of Lennar by 29.8% in the first quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company's stock worth $1,589,000 after buying an additional 3,177 shares in the last quarter. Jump Financial LLC lifted its holdings in shares of Lennar by 15.0% in the second quarter. Jump Financial LLC now owns 25,622 shares of the construction company's stock worth $2,834,000 after buying an additional 3,345 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of Lennar in the second quarter worth $47,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Lennar by 4.6% in the second quarter. Daiwa Securities Group Inc. now owns 34,958 shares of the construction company's stock worth $3,867,000 after buying an additional 1,544 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

Lennar Trading Up 2.1%

Shares of LEN opened at $92.63 on Wednesday. The company's fifty day moving average is $89.02 and its 200 day moving average is $103.84. Lennar Corporation has a fifty-two week low of $81.18 and a fifty-two week high of $144.24. The stock has a market capitalization of $22.88 billion, a PE ratio of 13.31, a P/E/G ratio of 2.00 and a beta of 1.39. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 4.77.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.07). Lennar had a return on equity of 7.80% and a net margin of 5.39%.The business had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the firm posted $2.14 EPS. The company's revenue for the quarter was down 13.3% on a year-over-year basis. Sell-side analysts expect that Lennar Corporation will post 5.87 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.2%. The ex-dividend date was Wednesday, April 22nd. Lennar's payout ratio is currently 28.74%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LEN shares. The Goldman Sachs Group reissued a "neutral" rating on shares of Lennar in a report on Friday. Zacks Research raised shares of Lennar from a "strong sell" rating to a "hold" rating in a report on Thursday, March 19th. Barclays lowered their target price on shares of Lennar from $85.00 to $80.00 and set an "underweight" rating on the stock in a report on Wednesday, April 8th. Evercore lowered their target price on shares of Lennar from $89.00 to $82.00 and set an "underperform" rating on the stock in a report on Monday, April 13th. Finally, Weiss Ratings downgraded shares of Lennar from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, March 16th. One analyst has rated the stock with a Buy rating, nine have issued a Hold rating and nine have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $98.00.

Key Stories Impacting Lennar

Here are the key news stories impacting Lennar this week:

• Positive Sentiment: Lennar sold Raleigh townhomes to an investor, reinforcing demand for rental housing and showing the company can monetize completed projects even in a tougher housing market. Lennar sells Raleigh townhomes to California investor as rental demand surges
• Positive Sentiment: Ongoing planning progress for the Cortlandt townhomes suggests Lennar continues to advance its land and community-development pipeline, which supports future growth. VS and Lennar move forward with planning for Cortlandt townhomes
• Neutral Sentiment: Several recent articles focus on Lennar’s valuation, margin pressure, and upcoming earnings expectations, keeping attention on whether the stock is fairly priced ahead of the next results. Evaluating Lennar (LEN) As Shares Trade Near Analyst Fair Value Estimates
• Neutral Sentiment: Industry commentary continues to point to the housing “lock-in effect,” which could help homebuilders like Lennar if lower rates improve affordability and unlock more demand. The Lock-In Effect Is Real—These 3 Homebuilders Are Betting on It (LEN)
• Negative Sentiment: Keefe, Bruyette & Woods downgraded Lennar from “market perform” to “underperform” and cut its price target to $86 from $97, signaling concern about limited upside and possible margin pressure. KBW downgrades Lennar

Lennar Profile

Lennar Corporation NYSE: LEN is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.

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