Louisiana State Employees Retirement System Takes $955,000 Position in Lennar Corporation $LEN

Louisiana State Employees Retirement System acquired a new position in shares of Lennar Corporation (NYSE:LEN) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 11,000 shares of the construction company’s stock, valued at approximately $955,000.

Other institutional investors have also recently bought and sold shares of the company. KERR FINANCIAL PLANNING Corp bought a new position in shares of Lennar during the 3rd quarter worth approximately $25,000. High Point Wealth Management LLC acquired a new position in Lennar during the fourth quarter worth $31,000. DV Equities LLC bought a new position in Lennar in the fourth quarter valued at $31,000. Quarry LP acquired a new stake in Lennar in the 4th quarter valued at $41,000. Finally, IFC & Insurance Marketing Inc. bought a new stake in Lennar during the 4th quarter worth about $45,000. Institutional investors own 81.10% of the company’s stock.

Lennar Price Performance

NYSE:LEN opened at $88.15 on Monday. The company has a market cap of $21.24 billion, a P/E ratio of 13.80, a P/E/G ratio of 2.93 and a beta of 1.38. The firm’s fifty day moving average price is $89.38 and its two-hundred day moving average price is $99.42. Lennar Corporation has a one year low of $81.18 and a one year high of $144.24. 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 (NYSE:LEN) last posted its earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. The company had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $8.08 billion. Lennar had a net margin of 4.93% and a return on equity of 7.08%. Lennar’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.81 EPS. Equities analysts expect that Lennar Corporation will post 5.51 earnings per share for the current 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 $0.50 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. Lennar’s dividend payout ratio is presently 31.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LEN shares. Bank of America decreased their price objective on Lennar from $84.00 to $77.00 and set an “underperform” rating for the company in a report on Friday, June 12th. UBS Group reduced their price target on Lennar from $107.00 to $94.00 and set a “neutral” rating for the company in a research report on Tuesday, June 16th. Wells Fargo & Company lowered their price target on Lennar from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Monday, June 15th. Argus dropped their price objective on Lennar from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Finally, BTIG Research set a $67.00 target price on shares of Lennar in a research note on Monday, June 15th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $95.00.

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.