ING Groep NV Has $6.06 Million Stake in Lennar Co. (NYSE:LEN)

ING Groep NV reduced its stake in shares of Lennar Co. (NYSE:LEN) by 66.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,326 shares of the construction company’s stock after selling 62,624 shares during the quarter. ING Groep NV’s holdings in Lennar were worth $6,060,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Oakworth Capital Inc. purchased a new position in shares of Lennar during the 3rd quarter valued at $27,000. Wolff Wiese Magana LLC increased its position in Lennar by 933.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after purchasing an additional 140 shares during the last quarter. GHP Investment Advisors Inc. purchased a new stake in shares of Lennar during the 3rd quarter worth about $30,000. Asset Dedication LLC lifted its holdings in shares of Lennar by 4,225.0% during the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after buying an additional 169 shares during the last quarter. Finally, DT Investment Partners LLC increased its holdings in Lennar by 523.3% in the third quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock worth $35,000 after buying an additional 157 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Stock Performance

NYSE:LEN opened at $168.90 on Friday. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $179.56 and a 200 day moving average price of $168.66. The firm has a market capitalization of $45.81 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 1.56 and a beta of 1.62. Lennar Co. has a 12-month low of $125.17 and a 12-month high of $193.80.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping the consensus estimate of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter last year, the company earned $3.91 EPS. Lennar’s revenue was up 7.9% on a year-over-year basis. Research analysts anticipate that Lennar Co. will post 14.18 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is 13.25%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Bank of America lifted their target price on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Wedbush reissued a “neutral” rating and set a $144.00 target price on shares of Lennar in a research report on Friday, September 20th. Citigroup upped their price target on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Royal Bank of Canada raised their price objective on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research note on Monday, September 23rd. Finally, Barclays increased their price target on Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $180.56.

Insider Buying and Selling

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the sale, the director now directly owns 23,689 shares in the company, valued at $4,148,654.57. This represents a 42.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.36% of the stock is currently owned by corporate insiders.

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.