Teachers Retirement System of The State of Kentucky boosted its stake in shares of Lennar Co. (NYSE:LEN - Free Report) by 206.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,109 shares of the construction company's stock after buying 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 quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Pacer Advisors Inc. increased its position in Lennar by 22.0% during the fourth 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 last quarter. Wellington Management Group LLP increased its holdings in shares of Lennar by 18.9% during the 4th quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company's stock worth $441,769,000 after buying an additional 515,378 shares during the last quarter. Nordea Investment Management AB raised 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 valued at $308,696,000 after buying an additional 397,492 shares during the period. Aware Super Pty Ltd as trustee of Aware Super acquired a new position in Lennar in the fourth quarter valued at approximately $27,933,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Lennar in the fourth quarter worth approximately $19,364,000. 81.10% of the stock is owned by institutional investors and hedge funds.
Lennar Stock Performance
Shares of LEN traded up $1.76 during mid-day trading on Thursday, reaching $109.33. 2,277,419 shares of the company's stock were exchanged, compared to its average volume of 2,563,299. The business's fifty day simple moving average is $114.74 and its 200-day simple moving average is $140.32. Lennar Co. has a 52-week low of $98.42 and a 52-week high of $187.61. The stock has a market capitalization of $28.84 billion, a PE ratio of 7.62, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. 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 - Get Free Report) last announced its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.44. The business had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.57 earnings per share. On average, equities research analysts expect that Lennar Co. will post 12.48 earnings per share for the current year.
Lennar Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be given a $0.50 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.83%. Lennar's payout ratio is currently 14.57%.
Analyst Ratings Changes
LEN has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price objective on Lennar from $120.00 to $110.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. UBS Group decreased their price objective on shares of Lennar from $183.00 to $164.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Wedbush reiterated a "neutral" rating and issued a $158.00 target price on shares of Lennar in a report on Monday, March 17th. Seaport Res Ptn upgraded Lennar from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Finally, StockNews.com upgraded Lennar from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Fifteen equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $150.07.
View Our Latest Analysis on LEN
About Lennar
(
Free Report)
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.
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