KBC Group NV Acquires 15,998 Shares of Lennar Corporation $LEN

Key Points

• KBC Group NV increased its stake in Lennar by 34.3% during Q4, buying 15,998 shares to hold 62,689 shares worth about $6.45 million.
• Lennar missed the most recent quarter's expectations, reporting $0.88 EPS versus $0.95 estimated and revenue of $6.62 billion (down 13.3% year-over-year); the company has a market cap of about $22.9 billion and a P/E of 13.3.
• The firm declared a quarterly dividend of $0.50 (annualized $2.00, ~2.2% yield) with record/ex-dividend on April 22 and payment on May 6, while analysts have trimmed price targets and the consensus rating sits at "Reduce" with a ~$99.87 target.

KBC Group NV grew its holdings in Lennar Corporation (NYSE:LEN - Free Report) by 34.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,689 shares of the construction company's stock after acquiring an additional 15,998 shares during the period. KBC Group NV's holdings in Lennar were worth $6,445,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LEN. Brighton Jones LLC raised its position in shares of Lennar by 27.9% during the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company's stock valued at $236,000 after purchasing an additional 377 shares during the period. Intech Investment Management LLC raised its position in shares of Lennar by 29.8% during the 1st quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company's stock valued at $1,589,000 after purchasing an additional 3,177 shares during the period. Jump Financial LLC raised its position in shares of Lennar by 15.0% during the 2nd quarter. Jump Financial LLC now owns 25,622 shares of the construction company's stock valued at $2,834,000 after purchasing an additional 3,345 shares during the period. Cary Street Partners Financial LLC bought a new stake in shares of Lennar during the 2nd quarter valued at $47,000. Finally, Daiwa Securities Group Inc. raised its position in shares of Lennar by 4.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 34,958 shares of the construction company's stock valued at $3,867,000 after purchasing an additional 1,544 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Lennar Stock Performance

Lennar stock opened at $92.67 on Friday. The company's 50-day moving average price is $100.57 and its 200-day moving average price is $112.22. Lennar Corporation has a twelve month low of $83.03 and a twelve month high of $144.24. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18. The company has a market cap of $22.89 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 1.95 and a beta of 1.47.

Lennar (NYSE:LEN - Get Free Report) last posted its earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing analysts' consensus estimates 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 last year, the firm earned $2.14 earnings per share. The business's quarterly revenue was down 13.3% on a year-over-year basis. On average, equities research analysts forecast that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd will be issued a $0.50 dividend. The ex-dividend date is Wednesday, April 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. Lennar's payout ratio is 28.74%.

Analysts Set New Price Targets

Several analysts have recently commented on LEN shares. Argus decreased their price objective on shares of Lennar from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Wednesday. Barclays decreased their price objective on shares of Lennar from $85.00 to $80.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 8th. Wells Fargo & Company decreased their price objective on shares of Lennar from $100.00 to $90.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 8th. Truist Financial reduced their price target on shares of Lennar from $95.00 to $90.00 and set a "hold" rating on the stock in a report on Tuesday, March 31st. Finally, Zacks Research upgraded shares of Lennar from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 19th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and eight have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $99.87.

Lennar Company 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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