Teacher Retirement System of Texas Sells 50,697 Shares of Lennar Corporation (NYSE:LEN)

Teacher Retirement System of Texas lessened its position in shares of Lennar Corporation (NYSE:LEN - Free Report) by 41.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,682 shares of the construction company's stock after selling 50,697 shares during the quarter. Teacher Retirement System of Texas' holdings in Lennar were worth $8,342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its position in shares of Lennar by 27.9% during the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company's stock worth $236,000 after buying an additional 377 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Lennar during the 4th quarter worth approximately $28,000. Steward Partners Investment Advisory LLC lifted its position in shares of Lennar by 12.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,400 shares of the construction company's stock worth $1,418,000 after buying an additional 1,124 shares during the period. Candriam S.C.A. lifted its position in shares of Lennar by 47.9% during the 4th quarter. Candriam S.C.A. now owns 17,649 shares of the construction company's stock worth $2,407,000 after buying an additional 5,718 shares during the period. Finally, Callan Family Office LLC bought a new position in shares of Lennar during the 4th quarter worth approximately $715,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Trading Down 0.8%

LEN stock traded down $0.88 during midday trading on Monday, reaching $109.24. The stock had a trading volume of 566,821 shares, compared to its average volume of 3,184,415. The business has a fifty day simple moving average of $108.89 and a two-hundred day simple moving average of $117.97. The company has a quick ratio of 0.49, a current ratio of 3.65 and a debt-to-equity ratio of 0.12. The firm has a market cap of $28.82 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 4.54 and a beta of 1.33. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $193.80.

Lennar (NYSE:LEN - Get Free Report) last issued its earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.94 by ($0.04). Lennar had a return on equity of 12.73% and a net margin of 9.20%. The company had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. During the same quarter last year, the business posted $3.45 EPS. Lennar's quarterly revenue was down 4.4% on a year-over-year basis. As a group, research analysts expect that Lennar Corporation will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

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. This represents a $2.00 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Thursday, July 3rd. Lennar's dividend payout ratio (DPR) is currently 16.54%.

Analysts Set New Price Targets

Several equities analysts have issued reports on LEN shares. Wells Fargo & Company cut their price objective on Lennar from $120.00 to $110.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Bank of America lowered their target price on Lennar from $110.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, June 18th. Evercore ISI lowered their target price on Lennar from $131.00 to $114.00 and set an "in-line" rating for the company in a research note on Wednesday, June 18th. Royal Bank Of Canada lowered their target price on Lennar from $122.00 to $98.00 and set a "sector perform" rating for the company in a research note on Wednesday, June 18th. Finally, UBS Group lowered their target price on Lennar from $164.00 to $146.00 and set a "buy" rating for the company in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lennar currently has an average rating of "Hold" and an average target price of $128.85.

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.