Illinois Municipal Retirement Fund Grows Position in Lennar Corporation (NYSE:LEN)

Illinois Municipal Retirement Fund lifted its holdings in Lennar Corporation (NYSE:LEN - Free Report) by 20.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,810 shares of the construction company's stock after purchasing an additional 13,625 shares during the period. Illinois Municipal Retirement Fund's holdings in Lennar were worth $9,390,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hurley Capital LLC purchased a new position in Lennar in the fourth quarter valued at $26,000. SBI Securities Co. Ltd. purchased a new stake in Lennar in the 4th quarter worth approximately $28,000. Ameriflex Group Inc. purchased a new stake in shares of Lennar during the 4th quarter valued at $30,000. Opal Wealth Advisors LLC purchased a new stake in Lennar during the 1st quarter worth $30,000. Finally, NBC Securities Inc. acquired a new position in Lennar in the 1st quarter worth $33,000. Hedge funds and other institutional investors own 81.10% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on LEN shares. Barclays cut their target price on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. Wedbush restated a "neutral" rating and issued a $130.00 price target on shares of Lennar in a research report on Wednesday, June 18th. Seaport Res Ptn raised shares of Lennar from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. The Goldman Sachs Group dropped their target price on shares of Lennar from $141.00 to $120.00 and set a "neutral" rating for the company in a research note on Tuesday, March 25th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a research note on Friday, June 20th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $128.85.

Lennar Price Performance

Shares of Lennar stock traded up $0.53 during midday trading on Friday, hitting $110.34. 4,287,289 shares of the company traded hands, compared to its average volume of 2,683,092. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.49 and a current ratio of 3.65. Lennar Corporation has a 12 month low of $98.42 and a 12 month high of $187.61. The firm's fifty day moving average price is $108.37 and its 200-day moving average price is $119.48. The stock has a market cap of $29.11 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 4.43 and a beta of 1.33.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.04). Lennar had a net margin of 9.20% and a return on equity of 12.73%. The company had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. During the same quarter in the previous year, the company posted $3.45 EPS. Lennar's quarterly revenue was down 4.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Lennar Corporation will post 12.48 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 18th. Stockholders of record on Thursday, July 3rd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Thursday, July 3rd. Lennar's dividend payout ratio is 16.54%.

Lennar 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, 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.