Cullen Frost Bankers Inc. Sells 10,146 Shares of Lennar Co. (NYSE:LEN)

Cullen Frost Bankers Inc. reduced its stake in Lennar Co. (NYSE:LEN) by 11.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,985 shares of the construction company’s stock after selling 10,146 shares during the period. Cullen Frost Bankers Inc.’s holdings in Lennar were worth $10,635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of LEN. The Manufacturers Life Insurance Company grew its position in Lennar by 1.3% in the third quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company’s stock valued at $1,106,798,000 after acquiring an additional 73,638 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Lennar by 22.0% in the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock worth $446,110,000 after purchasing an additional 589,553 shares during the last quarter. Smead Capital Management Inc. increased its position in shares of Lennar by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock worth $499,991,000 after purchasing an additional 89,896 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Lennar by 21.4% during the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after purchasing an additional 397,492 shares during the last quarter. Finally, Bamco Inc. NY boosted its position in Lennar by 2.6% in the third quarter. Bamco Inc. NY now owns 711,023 shares of the construction company’s stock valued at $133,303,000 after buying an additional 17,834 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on LEN shares. Wells Fargo & Company cut their target price on shares of Lennar from $145.00 to $130.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. The Goldman Sachs Group cut their price objective on Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, December 23rd. Royal Bank of Canada decreased their target price on Lennar from $130.00 to $125.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Wolfe Research downgraded shares of Lennar from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Lennar from $170.00 to $152.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $163.88.

Lennar Stock Performance

LEN stock opened at $126.27 on Friday. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. Lennar Co. has a twelve month low of $116.67 and a twelve month high of $187.61. The business’s fifty day moving average is $129.35 and its 200-day moving average is $158.11. The company has a market cap of $33.53 billion, a P/E ratio of 8.81, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69.

Lennar (NYSE:LEN) last issued its earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). The company had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $10.06 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. Lennar’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter last year, the business posted $4.82 EPS. Equities research analysts forecast that Lennar Co. will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.58%. The ex-dividend date was Wednesday, January 29th. Lennar’s payout ratio is presently 13.95%.

Lennar Company Profile

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.