Lennar Co. (NYSE:LEN) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its position in Lennar Co. (NYSE:LEN) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 236,200 shares of the construction company’s stock after selling 12,548 shares during the quarter. New York State Teachers Retirement System’s holdings in Lennar were worth $32,211,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LEN. Exchange Traded Concepts LLC acquired a new position in shares of Lennar during the third quarter worth $305,000. Aaron Wealth Advisors LLC lifted its stake in Lennar by 37.1% during the third quarter. Aaron Wealth Advisors LLC now owns 1,894 shares of the construction company’s stock worth $355,000 after purchasing an additional 513 shares during the last quarter. Revolve Wealth Partners LLC acquired a new position in Lennar in the third quarter valued at approximately $227,000. Vest Financial LLC raised its holdings in Lennar by 0.5% during the third quarter. Vest Financial LLC now owns 146,407 shares of the construction company’s stock worth $27,448,000 after purchasing an additional 706 shares in the last quarter. Finally, Foundations Investment Advisors LLC purchased a new stake in shares of Lennar during the 3rd quarter worth approximately $228,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on LEN. The Goldman Sachs Group cut their price target on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, December 23rd. JPMorgan Chase & Co. reduced their target price on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Barclays dropped their price target on Lennar from $135.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada reduced their price objective on Lennar from $130.00 to $125.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Finally, Wedbush restated a “neutral” rating and set a $164.00 target price on shares of Lennar in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $166.06.

Lennar Stock Up 0.1 %

LEN opened at $123.85 on Friday. The business has a 50 day simple moving average of $136.81 and a 200-day simple moving average of $163.00. Lennar Co. has a 12 month low of $119.25 and a 12 month high of $193.80. The stock has a market capitalization of $32.88 billion, a P/E ratio of 8.64, a P/E/G ratio of 1.28 and a beta of 1.67. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same period last year, the company earned $4.82 earnings per share. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. On average, equities analysts anticipate that Lennar Co. will post 12.52 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) 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.