Lennar Co. (NYSE:LEN) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its position in Lennar Co. (NYSE:LEN - Free Report) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 410,417 shares of the construction company's stock after selling 33,362 shares during the period. California Public Employees Retirement System owned 0.15% of Lennar worth $55,969,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Crews Bank & Trust purchased a new stake in Lennar in the fourth quarter valued at $25,000. Armstrong Advisory Group Inc. raised its holdings in Lennar by 69.4% in the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company's stock valued at $25,000 after buying an additional 75 shares during the period. SBI Securities Co. Ltd. purchased a new position in Lennar during the fourth quarter worth about $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of Lennar during the third quarter valued at about $39,000. Finally, Quarry LP raised its stake in shares of Lennar by 136.7% in the 3rd quarter. Quarry LP now owns 232 shares of the construction company's stock valued at $43,000 after acquiring an additional 134 shares during the period. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Stock Performance

Shares of NYSE LEN traded up $2.47 during trading hours on Friday, reaching $110.87. The stock had a trading volume of 7,728,176 shares, compared to its average volume of 2,516,754. The firm has a 50-day moving average of $121.78 and a 200-day moving average of $148.35. The firm has a market cap of $29.44 billion, a price-to-earnings ratio of 7.73, a PEG ratio of 1.24 and a beta of 1.51. 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 Co. has a fifty-two week low of $106.20 and a fifty-two week high of $187.61.

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Lennar (NYSE:LEN - Get Free Report) last announced its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.44. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $2.57 earnings per share. Equities research analysts predict that Lennar Co. will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Wednesday, January 29th. Lennar's dividend payout ratio is currently 14.57%.

Analyst Ratings Changes

LEN has been the topic of a number of research analyst reports. Bank of America cut their target price on Lennar from $140.00 to $130.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 18th. StockNews.com lowered Lennar from a "hold" rating to a "sell" rating in a research note on Saturday, March 29th. 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 report on Monday, March 24th. BTIG Research lowered shares of Lennar from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. Finally, Evercore ISI reaffirmed an "in-line" rating and set a $131.00 target price (down from $159.00) on shares of Lennar in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $151.07.

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.