ING Groep NV Has $2.02 Million Holdings in Lennar Corporation (NYSE:LEN)

Key Points

• ING Groep NV has significantly reduced its stake in Lennar Corporation, selling 118,084 shares and now holding only 17,617 shares, valued at $2,022,000.
• Several institutional investors have recently increased their positions in Lennar, with approximately 81.10% of the stock currently owned by these investors.
• Lennar's recent quarterly earnings report showed an EPS of $1.90, missing the consensus estimate, and its revenue for the quarter was down 4.4% year-over-year.

ING Groep NV reduced its holdings in Lennar Corporation (NYSE:LEN - Free Report) by 87.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,617 shares of the construction company's stock after selling 118,084 shares during the quarter. ING Groep NV's holdings in Lennar were worth $2,022,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Ameriflex Group Inc. bought a new position in Lennar during the 4th quarter worth about $30,000. Opal Wealth Advisors LLC acquired a new position in shares of Lennar during the first quarter worth about $30,000. NBC Securities Inc. bought a new position in shares of Lennar during the first quarter worth about $33,000. Franchise Capital Ltd acquired a new stake in Lennar in the 1st quarter valued at approximately $38,000. Finally, Oakworth Capital Inc. lifted its stake in Lennar by 139.9% in the 1st quarter. Oakworth Capital Inc. now owns 343 shares of the construction company's stock valued at $39,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LEN shares. Evercore ISI decreased their price target on shares of Lennar from $131.00 to $114.00 and set an "in-line" rating for the company in a research note on Wednesday, June 18th. Bank of America lowered their price target on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 18th. Keefe, Bruyette & Woods reduced 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 note on Friday, June 20th. UBS Group lowered their target price on Lennar from $164.00 to $146.00 and set a "buy" rating on the stock in a research report on Wednesday, June 18th. Finally, Barclays reduced their price target on Lennar from $110.00 to $95.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Lennar has a consensus rating of "Hold" and an average target price of $128.85.

Lennar Stock Performance

Shares of NYSE:LEN traded up $1.40 on Friday, hitting $120.91. The company had a trading volume of 2,093,620 shares, compared to its average volume of 2,743,458. The stock has a market cap of $31.32 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 5.07 and a beta of 1.29. The stock has a 50 day moving average price of $112.01 and a 200 day moving average price of $114.47. Lennar Corporation has a 1-year low of $98.42 and a 1-year 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.

Lennar (NYSE:LEN - Get Free Report) last announced 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 firm had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. During the same quarter last year, the business posted $3.45 EPS. Lennar's revenue for the quarter was down 4.4% on a year-over-year basis. Analysts expect that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The business also recently declared 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 1.7%. Lennar's dividend payout ratio is currently 16.54%.

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.