Retirement Systems of Alabama Has $8.22 Million Position in Lennar Co. (NYSE:LEN)

Retirement Systems of Alabama trimmed its holdings in shares of Lennar Co. (NYSE:LEN) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,132 shares of the construction company’s stock after selling 1,966 shares during the quarter. Retirement Systems of Alabama’s holdings in Lennar were worth $8,217,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Lennar in the 3rd quarter worth approximately $27,000. Criterion Capital Advisors LLC acquired a new position in Lennar in the fourth quarter valued at $36,000. Raleigh Capital Management Inc. bought a new stake in Lennar during the third quarter valued at $28,000. BluePath Capital Management LLC bought a new position in shares of Lennar in the 3rd quarter worth about $29,000. Finally, Itau Unibanco Holding S.A. lifted its stake in shares of Lennar by 34.3% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 497 shares of the construction company’s stock valued at $56,000 after purchasing an additional 127 shares during the period. Institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

LEN opened at $158.10 on Friday. The firm’s fifty day moving average price is $159.74 and its two-hundred day moving average price is $145.02. The company has a market capitalization of $44.01 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 1.42 and a beta of 1.55. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.47 and a quick ratio of 1.27. Lennar Co. has a 1 year low of $102.90 and a 1 year high of $172.59.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, March 14th. The construction company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.36. Lennar had a net margin of 11.59% and a return on equity of 15.90%. The business had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.39 billion. During the same period in the previous year, the company earned $2.12 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, analysts anticipate that Lennar Co. will post 14.46 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.27%. Lennar’s dividend payout ratio (DPR) is presently 14.02%.

Insider Activity

In related news, Director Amy Banse purchased 1,575 shares of Lennar stock in a transaction that occurred on Wednesday, April 10th. The stock was bought at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the transaction, the director now owns 11,859 shares in the company, valued at $1,861,863. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 9.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LEN shares. Wells Fargo & Company lifted their target price on Lennar from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Barclays boosted their target price on shares of Lennar from $173.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. UBS Group raised their price target on shares of Lennar from $190.00 to $198.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Wedbush reiterated an “underperform” rating and set a $144.00 price objective on shares of Lennar in a report on Tuesday, April 2nd. Finally, Oppenheimer restated a “market perform” rating on shares of Lennar in a research note on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.88.

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.