California Public Employees Retirement System Acquires 7,103 Shares of Lennar Corporation $LEN

California Public Employees Retirement System lifted its holdings in shares of Lennar Corporation (NYSE:LEN) by 2.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 313,354 shares of the construction company’s stock after buying an additional 7,103 shares during the period. California Public Employees Retirement System owned about 0.13% of Lennar worth $27,212,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. Lazard Asset Management LLC grew its position in Lennar by 7.1% in the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock valued at $141,000 after acquiring an additional 85 shares during the last quarter. Rossby Financial LCC boosted its stake in shares of Lennar by 9.1% in the 4th quarter. Rossby Financial LCC now owns 1,059 shares of the construction company’s stock valued at $109,000 after purchasing an additional 88 shares in the last quarter. New Mexico Educational Retirement Board boosted its stake in shares of Lennar by 1.0% in the 4th quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company’s stock valued at $1,086,000 after purchasing an additional 100 shares in the last quarter. KDT Advisors LLC grew its holdings in shares of Lennar by 2.7% during the 3rd quarter. KDT Advisors LLC now owns 4,654 shares of the construction company’s stock valued at $587,000 after purchasing an additional 123 shares during the last quarter. Finally, Orion Porfolio Solutions LLC increased its position in Lennar by 0.7% during the 4th quarter. Orion Porfolio Solutions LLC now owns 17,725 shares of the construction company’s stock worth $1,822,000 after purchasing an additional 130 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LEN has been the topic of a number of research analyst reports. Truist Financial cut their target price on shares of Lennar from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Tuesday, March 31st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Lennar in a report on Thursday, June 11th. BTIG Research set a $67.00 price target on Lennar in a research note on Monday, June 15th. Seaport Research Partners reissued a “sell” rating and set a $74.00 price objective (down from $140.00) on shares of Lennar in a report on Tuesday, April 7th. Finally, Royal Bank Of Canada lowered their target price on Lennar from $88.00 to $85.00 and set an “underperform” rating for the company in a report on Monday, June 15th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have assigned a Sell rating to the stock. According to MarketBeat.com, Lennar has a consensus rating of “Reduce” and an average target price of $92.80.

Lennar Trading Down 1.3%

LEN opened at $81.86 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.91 and a quick ratio of 0.91. Lennar Corporation has a fifty-two week low of $81.18 and a fifty-two week high of $144.24. The company’s 50 day moving average price is $88.07 and its two-hundred day moving average price is $97.52. The firm has a market capitalization of $19.72 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 2.75 and a beta of 1.38.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.07. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The firm had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $8.08 billion. During the same quarter last year, the firm earned $1.81 earnings per share. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, research analysts predict that Lennar Corporation will post 5.52 earnings per share for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 10th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.00 annualized dividend and a yield of 2.4%. Lennar’s payout ratio is presently 31.30%.

Lennar Profile

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.