California Public Employees Retirement System Has $27.21 Million Holdings in Lennar Corporation $LEN

California Public Employees Retirement System raised its position in Lennar Corporation (NYSE:LEN) by 2.3% during the first quarter, Holdings Channel reports. The firm owned 313,354 shares of the construction company’s stock after purchasing an additional 7,103 shares during the period. California Public Employees Retirement System’s holdings in Lennar were worth $27,212,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Viking Global Investors LP increased its position in shares of 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 period. Janus Henderson Group PLC lifted its holdings in Lennar by 12.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,127,225 shares of the construction company’s stock valued at $218,681,000 after buying an additional 228,247 shares during the period. Van Lanschot Kempen Investment Management N.V. boosted its position in Lennar by 90.9% during the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,963,373 shares of the construction company’s stock valued at $201,835,000 after acquiring an additional 934,856 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in Lennar during the 4th quarter worth about $95,941,000. Finally, Caisse de depot et placement du Quebec grew its holdings in Lennar by 3.7% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 555,305 shares of the construction company’s stock worth $69,991,000 after acquiring an additional 19,566 shares during the period. 81.10% of the stock is owned by institutional investors.

Lennar Price Performance

LEN stock 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. The company’s 50-day moving average is $88.07 and its 200-day moving average is $97.52. The stock has a market capitalization of $19.72 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 2.75 and a beta of 1.38. Lennar Corporation has a 1 year low of $81.18 and a 1 year high of $144.24.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. The business had revenue of $7.94 billion during the quarter, compared to analyst estimates of $8.08 billion. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The firm’s revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.81 EPS. Equities research analysts expect that Lennar Corporation will post 5.52 EPS for the current fiscal year.

Lennar Announces Dividend

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

Analyst Ratings Changes

LEN has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods dropped their price objective on Lennar from $86.00 to $85.00 and set an “underperform” rating on the stock in a research note on Wednesday, June 17th. Citigroup lowered their target price on Lennar from $104.00 to $88.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. Argus set a $108.00 price target on Lennar in a research note on Thursday, July 9th. JPMorgan Chase & Co. cut their price target on Lennar from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Tuesday, June 16th. Finally, Truist Financial reduced their price objective on shares of Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $92.80.

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.