Lennar Co. (NYSE:LEN) Shares Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky increased its stake in shares of Lennar Co. (NYSE:LEN - Free Report) by 206.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 56,109 shares of the construction company's stock after acquiring an additional 37,770 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Lennar were worth $7,652,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crews Bank & Trust bought a new position in shares of Lennar during the fourth quarter worth $25,000. Armstrong Advisory Group Inc. raised its stake in Lennar by 69.4% during the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company's stock valued at $25,000 after purchasing an additional 75 shares in the last quarter. Hurley Capital LLC purchased a new stake in Lennar during the fourth quarter valued at $26,000. SBI Securities Co. Ltd. purchased a new stake in Lennar during the fourth quarter valued at $28,000. Finally, ORG Wealth Partners LLC purchased a new stake in Lennar during the fourth quarter valued at $32,000. Institutional investors own 81.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on LEN shares. Evercore ISI reaffirmed an "in-line" rating and set a $131.00 price target (down previously from $159.00) on shares of Lennar in a research note on Monday, March 24th. The Goldman Sachs Group decreased their price target on shares of Lennar from $141.00 to $120.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 25th. Bank of America reduced their target price on shares of Lennar from $140.00 to $130.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 18th. Royal Bank of Canada cut their price target on shares of Lennar from $125.00 to $122.00 and set a "sector perform" rating on the stock in a report on Monday, March 24th. Finally, UBS Group decreased their price objective on shares of Lennar from $183.00 to $164.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Fifteen analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $150.07.

Lennar Stock Down 1.4 %

LEN stock traded down $1.50 during trading on Friday, hitting $107.72. 2,130,886 shares of the company's stock traded hands, compared to its average volume of 2,567,606. The business has a fifty day simple moving average of $114.45 and a two-hundred day simple moving average of $139.26. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. Lennar Co. has a 1 year low of $98.42 and a 1 year high of $187.61. The firm has a market capitalization of $28.42 billion, a P/E ratio of 7.51, a PEG ratio of 1.24 and a beta of 1.51.

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

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Wednesday, April 23rd. Lennar's dividend payout ratio (DPR) is presently 14.57%.

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.