Gulf International Bank UK Ltd Trims Stock Holdings in Lennar Co. (NYSE:LEN)

Gulf International Bank UK Ltd reduced its stake in shares of Lennar Co. (NYSE:LEN) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,579 shares of the construction company’s stock after selling 237 shares during the period. Gulf International Bank UK Ltd’s holdings in Lennar were worth $2,397,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Holocene Advisors LP purchased a new position in Lennar during the third quarter valued at approximately $115,229,000. Pacer Advisors Inc. lifted its stake in shares of Lennar by 22.0% during the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock valued at $446,110,000 after buying an additional 589,553 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Lennar by 21.4% in the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock worth $308,696,000 after buying an additional 397,492 shares during the period. KBC Group NV increased its stake in Lennar by 258.3% in the 3rd quarter. KBC Group NV now owns 494,848 shares of the construction company’s stock worth $92,774,000 after buying an additional 356,731 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd raised its holdings in Lennar by 2,774.5% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 123,142 shares of the construction company’s stock valued at $16,793,000 after acquiring an additional 118,858 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LEN shares. UBS Group cut their target price on Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Wedbush reaffirmed a “neutral” rating and set a $164.00 price objective on shares of Lennar in a report on Thursday, December 19th. JPMorgan Chase & Co. dropped their target price on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Barclays reduced their price target on shares of Lennar from $135.00 to $121.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Finally, Bank of America cut their price objective on Lennar from $150.00 to $140.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Lennar currently has an average rating of “Hold” and an average target price of $163.88.

Lennar Trading Down 0.6 %

Shares of LEN opened at $119.63 on Friday. Lennar Co. has a twelve month low of $117.90 and a twelve month high of $193.80. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The company’s fifty day simple moving average is $130.70 and its 200-day simple moving average is $159.47. The company has a market cap of $31.76 billion, a P/E ratio of 8.34, a P/E/G ratio of 1.24 and a beta of 1.67.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($0.12). The firm had revenue of $9.95 billion during 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%. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $4.82 EPS. As a group, analysts expect that Lennar Co. will post 12.48 EPS for the current year.

Lennar Announces Dividend

The firm 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. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.67%. Lennar’s payout ratio is 13.95%.

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.