Cullen Frost Bankers Inc. Has $13.16 Million Position in Lennar Co. (NYSE:LEN)

Cullen Frost Bankers Inc. raised its stake in shares of Lennar Co. (NYSE:LEN) by 0.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,835 shares of the construction company’s stock after purchasing an additional 68 shares during the period. Cullen Frost Bankers Inc.’s holdings in Lennar were worth $13,164,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LEN. Boston Partners lifted its position in Lennar by 21.5% during the 1st quarter. Boston Partners now owns 23,775 shares of the construction company’s stock worth $4,089,000 after acquiring an additional 4,207 shares during the last quarter. Integrated Advisors Network LLC grew its holdings in Lennar by 177.3% in the 4th quarter. Integrated Advisors Network LLC now owns 31,258 shares of the construction company’s stock valued at $4,659,000 after buying an additional 19,985 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services increased its position in Lennar by 331.8% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 12,033 shares of the construction company’s stock worth $2,069,000 after buying an additional 9,246 shares during the period. Grayhawk Investment Strategies Inc. acquired a new position in shares of Lennar during the fourth quarter worth approximately $838,000. Finally, Norden Group LLC acquired a new stake in shares of Lennar in the first quarter worth $5,592,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LEN shares. Royal Bank of Canada reiterated an “underperform” rating and set a $145.00 target price on shares of Lennar in a research note on Thursday, June 20th. StockNews.com downgraded Lennar from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. BTIG Research cut their price target on Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, June 20th. Raymond James lowered Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Finally, Citigroup reaffirmed a “neutral” rating and issued a $164.00 target price (down from $174.00) on shares of Lennar in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Lennar currently has a consensus rating of “Hold” and a consensus target price of $172.06.

Lennar Trading Up 0.9 %

Shares of LEN opened at $179.42 on Friday. The stock has a fifty day moving average price of $168.92 and a two-hundred day moving average price of $162.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. The company has a market cap of $49.27 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 1.65 and a beta of 1.61. Lennar Co. has a 52-week low of $102.90 and a 52-week high of $186.60.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Monday, June 17th. The construction company reported $3.38 EPS for the quarter, topping analysts’ consensus estimates of $3.20 by $0.18. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.57 billion. Analysts predict that Lennar Co. will post 14.16 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.00 annualized dividend and a dividend yield of 1.11%. Lennar’s dividend payout ratio (DPR) is currently 13.60%.

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.