Arizona State Retirement System Has $6.01 Million Stake in Lennar Corporation $LEN

Arizona State Retirement System lowered its holdings in Lennar Corporation (NYSE:LEN) by 13.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,466 shares of the construction company’s stock after selling 8,744 shares during the quarter. Arizona State Retirement System’s holdings in Lennar were worth $6,010,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Viking Global Investors LP raised its holdings in Lennar by 86.7% during the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock worth $279,135,000 after buying an additional 1,172,068 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Lennar by 14.6% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock valued at $596,504,000 after buying an additional 603,004 shares during the last quarter. Todd Asset Management LLC bought a new stake in shares of Lennar during the third quarter worth about $26,371,000. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Lennar by 319.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 274,173 shares of the construction company’s stock worth $34,557,000 after acquiring an additional 208,800 shares during the last quarter. Finally, Duquesne Family Office LLC lifted its position in Lennar by 210.8% in the 3rd quarter. Duquesne Family Office LLC now owns 279,424 shares of the construction company’s stock valued at $35,219,000 after acquiring an additional 189,524 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

LEN has been the subject of a number of recent research reports. Evercore decreased their price objective on Lennar from $89.00 to $82.00 and set an “underperform” rating for the company in a report on Monday, April 13th. The Goldman Sachs Group dropped their target price on Lennar from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, April 10th. Wells Fargo & Company decreased their price target on Lennar from $100.00 to $90.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Argus lowered their price target on Lennar from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Finally, Weiss Ratings cut Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 16th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat.com, Lennar has a consensus rating of “Reduce” and a consensus price target of $99.87.

Lennar Price Performance

Shares of NYSE LEN opened at $93.99 on Monday. The company has a market capitalization of $23.21 billion, a PE ratio of 13.50, a PEG ratio of 2.07 and a beta of 1.47. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average price is $98.04 and its 200-day moving average price is $111.01. Lennar Corporation has a twelve month low of $83.03 and a twelve month high of $144.24.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). The business had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. The business’s revenue was down 13.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.14 earnings per share. On average, equities analysts anticipate that Lennar Corporation will post 5.91 EPS for the current year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, April 22nd. Lennar’s payout ratio is 28.74%.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.