Lennar Co. (NYSE:LEN) Stock Position Lessened by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in Lennar Co. (NYSE:LEN) by 8.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,157 shares of the construction company’s stock after selling 755 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Lennar were worth $1,403,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of LEN. Jennison Associates LLC lifted its holdings in shares of Lennar by 97.4% in the fourth quarter. Jennison Associates LLC now owns 354,711 shares of the construction company’s stock valued at $52,866,000 after buying an additional 174,981 shares during the period. Cercano Management LLC purchased a new stake in shares of Lennar during the first quarter valued at $24,341,000. Point72 Hong Kong Ltd purchased a new stake in shares of Lennar during the fourth quarter valued at $16,394,000. Clearbridge Investments LLC lifted its stake in Lennar by 339.7% in the 1st quarter. Clearbridge Investments LLC now owns 136,993 shares of the construction company’s stock worth $23,560,000 after acquiring an additional 105,835 shares in the last quarter. Finally, Sapient Capital LLC purchased a new stake in Lennar in the 4th quarter worth about $15,551,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Price Performance

Shares of Lennar stock traded up $1.69 during midday trading on Monday, hitting $178.40. 727,631 shares of the company were exchanged, compared to its average volume of 2,144,125. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91. The firm has a market cap of $48.99 billion, a P/E ratio of 12.00, a PEG ratio of 1.60 and a beta of 1.60. Lennar Co. has a 52 week low of $102.90 and a 52 week high of $178.75. The firm has a 50 day simple moving average of $156.05 and a 200-day simple moving average of $156.90.

Lennar (NYSE:LEN) last released its quarterly earnings results on Monday, June 17th. The construction company reported $3.38 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $0.18. The firm had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.57 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. Research analysts forecast that Lennar Co. will post 14.16 earnings per share for the current year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.00 annualized dividend and a dividend yield of 1.12%. Lennar’s dividend payout ratio (DPR) is currently 13.60%.

Analysts Set New Price Targets

Several research analysts have weighed in on LEN shares. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $145.00 target price on shares of Lennar in a research report on Thursday, June 20th. BTIG Research dropped their target price on Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, June 20th. Wedbush raised Lennar from an “underperform” rating to a “neutral” rating and set a $144.00 target price on the stock in a research report on Tuesday, July 9th. Citigroup reaffirmed a “neutral” rating and issued a $164.00 target price (down from $174.00) on shares of Lennar in a research report on Tuesday, July 2nd. Finally, Raymond James lowered Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $167.88.

Insider Activity

In related news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of Lennar stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $170.11, for a total transaction of $1,701,100.00. Following the completion of the sale, the insider now directly owns 118,629 shares of the company’s stock, valued at $20,179,979.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Lennar news, VP Mark Sustana sold 9,176 shares of Lennar stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $164.88, for a total transaction of $1,512,938.88. Following the transaction, the vice president now directly owns 16,768 shares in the company, valued at $2,764,707.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $170.11, for a total value of $1,701,100.00. Following the completion of the transaction, the insider now directly owns 118,629 shares of the company’s stock, valued at $20,179,979.19. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,176 shares of company stock valued at $4,841,039. Company insiders own 9.36% of the company’s stock.

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.