State of Tennessee Department of Treasury Has $15.32 Million Stock Holdings in Lennar Co. (NYSE:LEN)

State of Tennessee Department of Treasury lessened its stake in Lennar Co. (NYSE:LEN - Free Report) by 24.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 112,326 shares of the construction company's stock after selling 35,868 shares during the quarter. State of Tennessee Department of Treasury's holdings in Lennar were worth $15,318,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LEN. Armstrong Advisory Group Inc. raised its holdings in shares of Lennar by 69.4% during the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company's stock worth $25,000 after acquiring an additional 75 shares in the last quarter. Crews Bank & Trust purchased a new stake in shares of Lennar during the 4th quarter worth about $25,000. Hurley Capital LLC acquired a new stake in shares of Lennar during the 4th quarter valued at about $26,000. SBI Securities Co. Ltd. bought a new stake in shares of Lennar in the 4th quarter valued at approximately $28,000. Finally, ORG Wealth Partners LLC acquired a new position in Lennar in the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 81.10% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on LEN. Wells Fargo & Company decreased their target price on shares of Lennar from $120.00 to $110.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Barclays decreased their price objective on shares of Lennar from $121.00 to $110.00 and set an "equal weight" rating for the company in a report on Monday, March 24th. Evercore ISI restated an "in-line" rating and set a $131.00 target price (down from $159.00) on shares of Lennar in a report on Monday, March 24th. Bank of America decreased their price target on Lennar from $140.00 to $130.00 and set a "neutral" rating for the company in a research note on Tuesday, March 18th. Finally, UBS Group cut their price objective on Lennar from $183.00 to $164.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Fifteen equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $150.07.

Lennar Stock Performance

NYSE LEN traded down $0.35 during midday trading on Monday, hitting $107.29. The company had a trading volume of 389,122 shares, compared to its average volume of 3,331,740. The firm has a fifty day simple moving average of $114.45 and a two-hundred day simple moving average of $139.26. Lennar Co. has a fifty-two week low of $98.42 and a fifty-two week high of $193.80. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The stock has a market cap of $28.30 billion, a price-to-earnings ratio of 7.48, a P/E/G ratio of 1.24 and a beta of 1.51.

Lennar (NYSE:LEN - Get Free Report) last released its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.44 billion. During the same period last year, the business earned $2.57 earnings per share. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts forecast that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $2.00 annualized dividend and a yield of 1.86%. Lennar's dividend payout ratio (DPR) is currently 14.57%.

Lennar Company 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.