Texas Permanent School Fund lessened its stake in shares of Lennar Co. (NYSE:LEN) by 5.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,630 shares of the construction company’s stock after selling 3,211 shares during the period. Texas Permanent School Fund’s holdings in Lennar were worth $2,731,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of LEN. Ceredex Value Advisors LLC purchased a new position in Lennar in the fourth quarter worth about $28,000. CI Investments Inc. boosted its position in shares of Lennar by 188.5% during the fourth quarter. CI Investments Inc. now owns 756 shares of the construction company’s stock valued at $30,000 after buying an additional 494 shares during the period. Valley National Advisers Inc. purchased a new position in shares of Lennar during the fourth quarter valued at approximately $49,000. NuWave Investment Management LLC purchased a new position in shares of Lennar during the fourth quarter valued at approximately $51,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Lennar during the first quarter valued at approximately $65,000. 85.34% of the stock is owned by institutional investors.
Several research analysts have issued reports on LEN shares. Keefe, Bruyette & Woods restated a “buy” rating and set a $60.00 target price on shares of Lennar in a research report on Sunday, February 24th. Barclays set a $54.00 price target on Lennar and gave the company a “buy” rating in a report on Thursday, March 28th. Bank of America set a $57.00 price target on Lennar and gave the company a “buy” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. began coverage on Lennar in a report on Monday, April 8th. They issued a “focus list” rating for the company. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $49.00 price target on shares of Lennar in a report on Friday, February 15th. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $57.27.
In related news, President Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $48.94, for a total value of $978,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.43% of the company’s stock.
Shares of NYSE LEN traded up $1.22 during trading hours on Thursday, reaching $54.14. The stock had a trading volume of 61,327 shares, compared to its average volume of 3,678,567. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 14.77. The firm has a market capitalization of $16.90 billion, a price-to-earnings ratio of 8.55, a PEG ratio of 0.68 and a beta of 1.33. Lennar Co. has a 52-week low of $37.29 and a 52-week high of $55.77.
Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, March 27th. The construction company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $4.10 billion. Lennar had a return on equity of 13.04% and a net margin of 8.39%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period last year, the firm earned $1.11 EPS. Analysts forecast that Lennar Co. will post 5.42 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Tuesday, April 23rd. Lennar’s dividend payout ratio (DPR) is 2.52%.
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Lennar Company Profile
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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.
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