Cullen Frost Bankers Inc. Has $10.64 Million Stock Position in Lennar Co. (NYSE:LEN)

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Holocene Advisors LP purchased a new stake in shares of Lennar during the 3rd quarter worth about $115,229,000. Pacer Advisors Inc. grew its holdings 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 worth $446,110,000 after purchasing an additional 589,553 shares during the period. Nordea Investment Management AB grew its holdings in shares of Lennar by 21.4% during the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company's stock worth $308,696,000 after purchasing an additional 397,492 shares during the period. KBC Group NV grew its holdings in shares of Lennar by 258.3% during the 3rd quarter. KBC Group NV now owns 494,848 shares of the construction company's stock worth $92,774,000 after purchasing an additional 356,731 shares during the period. Finally, Y Intercept Hong Kong Ltd grew its holdings in shares of Lennar by 2,774.5% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 123,142 shares of the construction company's stock worth $16,793,000 after purchasing an additional 118,858 shares during the period. Hedge funds and other institutional investors own 81.10% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms recently commented on LEN. Seaport Res Ptn raised Lennar from a "hold" rating to a "strong-buy" rating in a research report on Thursday. UBS Group cut their target price on Lennar from $205.00 to $192.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Wolfe Research lowered Lennar from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 8th. Citigroup cut their target price on Lennar from $196.00 to $150.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods cut their target price on Lennar from $170.00 to $152.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $163.88.

Lennar Price Performance

LEN stock traded down $0.90 during trading hours on Friday, hitting $125.24. 2,743,537 shares of the stock traded hands, compared to its average volume of 2,328,247. The stock has a 50-day simple moving average of $129.11 and a 200 day simple moving average of $157.65. Lennar Co. has a one year low of $116.67 and a one year high of $187.61. The company has a market cap of $33.25 billion, a P/E ratio of 8.73, a P/E/G ratio of 1.24 and a beta of 1.69. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08.

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

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.60%. The ex-dividend date was Wednesday, January 29th. Lennar's dividend payout ratio is currently 13.95%.

Lennar 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.