Teachers Retirement System of The State of Kentucky Grows Stock Position in Lennar Co. (NYSE:LEN)

Teachers Retirement System of The State of Kentucky raised its position in Lennar Co. (NYSE:LEN) by 206.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 56,109 shares of the construction company’s stock after acquiring an additional 37,770 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Lennar were worth $7,652,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LEN. Pacer Advisors Inc. boosted its stake in shares of Lennar by 22.0% in the fourth 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. Wellington Management Group LLP lifted its holdings in Lennar by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company’s stock valued at $441,769,000 after acquiring an additional 515,378 shares during the period. Nordea Investment Management AB boosted its position 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 in the last quarter. Cannell & Spears LLC increased its holdings in shares of Lennar by 1.0% in the 4th quarter. Cannell & Spears LLC now owns 514,970 shares of the construction company’s stock valued at $70,226,000 after purchasing an additional 5,311 shares in the last quarter. Finally, Sound Shore Management Inc. CT lifted its stake in shares of Lennar by 12.2% in the fourth quarter. Sound Shore Management Inc. CT now owns 396,289 shares of the construction company’s stock valued at $54,042,000 after purchasing an additional 42,949 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Stock Performance

Shares of LEN stock opened at $103.81 on Tuesday. The company’s fifty day moving average price is $115.67 and its two-hundred day moving average price is $141.28. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The firm has a market capitalization of $27.38 billion, a P/E ratio of 7.24, a P/E/G ratio of 1.24 and a beta of 1.51. Lennar Co. has a 12 month low of $98.42 and a 12 month high of $187.61.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.44. The firm had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. Lennar’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.57 EPS. On average, research analysts anticipate that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lennar’s dividend payout ratio is currently 14.57%.

Analysts Set New Price Targets

A number of brokerages have issued reports on LEN. Wolfe Research cut shares of Lennar from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. Barclays dropped their target price on Lennar from $121.00 to $110.00 and set an “equal weight” rating for the company in a research note on Monday, March 24th. Wells Fargo & Company decreased their price target on Lennar from $120.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Royal Bank of Canada dropped their price objective on shares of Lennar from $125.00 to $122.00 and set a “sector perform” rating for the company in a research note on Monday, March 24th. Finally, The Goldman Sachs Group decreased their target price on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. Fifteen equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $150.07.

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.