KBC Group NV Purchases 7,562 Shares of Lennar Corporation (NYSE:LEN)

KBC Group NV boosted its stake in Lennar Corporation (NYSE:LEN - Free Report) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 160,505 shares of the construction company's stock after acquiring an additional 7,562 shares during the quarter. KBC Group NV owned about 0.06% of Lennar worth $18,423,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LEN. Confluence Wealth Services Inc. increased its stake in Lennar by 12.5% during the 1st quarter. Confluence Wealth Services Inc. now owns 10,361 shares of the construction company's stock worth $1,114,000 after buying an additional 1,155 shares during the period. Oakworth Capital Inc. boosted its stake in shares of Lennar by 139.9% during the 1st quarter. Oakworth Capital Inc. now owns 343 shares of the construction company's stock valued at $39,000 after buying an additional 200 shares during the last quarter. Achmea Investment Management B.V. increased its stake in shares of Lennar by 0.6% in the first quarter. Achmea Investment Management B.V. now owns 136,126 shares of the construction company's stock worth $15,624,000 after buying an additional 825 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in Lennar by 20.0% in the first quarter. Illinois Municipal Retirement Fund now owns 81,810 shares of the construction company's stock valued at $9,390,000 after acquiring an additional 13,625 shares in the last quarter. Finally, Perpetual Ltd acquired a new stake in Lennar in the first quarter valued at $14,900,000. Hedge funds and other institutional investors own 81.10% of the company's stock.

Lennar Trading Down 0.1%

Shares of LEN traded down $0.16 during trading hours on Wednesday, hitting $115.33. 4,417,427 shares of the stock were exchanged, compared to its average volume of 2,703,805. The firm has a market capitalization of $30.42 billion, a P/E ratio of 9.54, a price-to-earnings-growth ratio of 4.76 and a beta of 1.33. 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 business has a 50-day moving average of $108.67 and a 200-day moving average of $118.90. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $187.61.

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

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.73%. Lennar's dividend payout ratio is presently 16.54%.

Analyst Ratings Changes

LEN has been the topic of several research reports. Wedbush restated a "neutral" rating and set a $130.00 price objective on shares of Lennar in a research note on Wednesday, June 18th. Seaport Res Ptn raised shares of Lennar from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Keefe, Bruyette & Woods decreased their price target on shares of Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a report on Friday, June 20th. Wells Fargo & Company dropped their price target on Lennar from $120.00 to $110.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Finally, Royal Bank Of Canada lowered their price objective on Lennar from $122.00 to $98.00 and set a "sector perform" rating for the company in a research note on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average 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.