New York State Teachers Retirement System Sells 12,204 Shares of Lennar Corporation (NYSE:LEN)

New York State Teachers Retirement System cut its holdings in Lennar Corporation (NYSE:LEN - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 223,996 shares of the construction company's stock after selling 12,204 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Lennar worth $25,710,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Horizon Investments LLC lifted its stake in Lennar by 2.1% during the fourth quarter. Horizon Investments LLC now owns 4,818 shares of the construction company's stock valued at $629,000 after purchasing an additional 98 shares during the last quarter. Unison Advisors LLC lifted its position in shares of Lennar by 0.3% during the 4th quarter. Unison Advisors LLC now owns 37,040 shares of the construction company's stock valued at $5,051,000 after acquiring an additional 100 shares during the last quarter. Omnia Family Wealth LLC boosted its stake in shares of Lennar by 1.9% during the 1st quarter. Omnia Family Wealth LLC now owns 6,417 shares of the construction company's stock worth $737,000 after acquiring an additional 119 shares in the last quarter. Legacy Advisors LLC grew its holdings in shares of Lennar by 4.8% in the 1st quarter. Legacy Advisors LLC now owns 2,628 shares of the construction company's stock worth $302,000 after acquiring an additional 120 shares during the last quarter. Finally, Cornerstone Wealth Group LLC raised its position in shares of Lennar by 4.9% during the first quarter. Cornerstone Wealth Group LLC now owns 2,638 shares of the construction company's stock worth $303,000 after purchasing an additional 123 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Stock Down 0.1%

Shares of LEN traded down $0.16 during midday trading on Wednesday, reaching $115.33. 4,417,427 shares of the stock were exchanged, compared to its average volume of 2,702,860. The company has a market cap of $30.42 billion, a price-to-earnings ratio of 9.54, a P/E/G ratio of 4.45 and a beta of 1.33. The company has a quick ratio of 0.49, a current ratio of 3.65 and a debt-to-equity ratio of 0.12. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $187.61. The firm has a 50 day simple moving average of $108.67 and a 200-day simple moving average of $118.90.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. During the same period in the previous year, the business posted $3.45 EPS. Lennar's revenue was down 4.4% compared to the same quarter last year. Research analysts forecast that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.00 annualized dividend and a yield of 1.73%. Lennar's dividend payout ratio (DPR) is currently 16.54%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JMP Securities cut their price objective on Lennar from $150.00 to $130.00 and set a "market outperform" rating on the stock in a report on Friday, June 20th. Zelman & Associates lowered shares of Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 18th. Wall Street Zen downgraded shares of Lennar from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Seaport Res Ptn raised shares of Lennar from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Finally, Royal Bank Of Canada reduced their target price on Lennar from $122.00 to $98.00 and set a "sector perform" rating for the company in a report on Wednesday, June 18th. One 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 company. According to MarketBeat.com, Lennar has a consensus rating of "Hold" and a consensus price target of $128.85.

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.