New Mexico Educational Retirement Board Decreases Holdings in Lennar Co. (NYSE:LEN)

New Mexico Educational Retirement Board trimmed its holdings in shares of Lennar Co. (NYSE:LEN) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,560 shares of the construction company’s stock after selling 400 shares during the period. New Mexico Educational Retirement Board’s holdings in Lennar were worth $1,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of LEN. Armstrong Advisory Group Inc. lifted its holdings in Lennar by 69.4% during the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after buying an additional 75 shares during the last quarter. Crews Bank & Trust acquired a new stake in shares of Lennar in the 4th quarter valued at about $25,000. Oakworth Capital Inc. acquired a new stake in shares of Lennar in the 3rd quarter valued at about $27,000. GHP Investment Advisors Inc. acquired a new stake in shares of Lennar in the 3rd quarter valued at about $30,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Lennar in the 4th quarter valued at about $32,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Stock Performance

NYSE LEN opened at $123.85 on Monday. Lennar Co. has a 1-year low of $119.25 and a 1-year high of $193.80. The company has a market capitalization of $32.88 billion, a P/E ratio of 8.64, a PEG ratio of 1.28 and a beta of 1.67. The business has a 50 day moving average price of $136.81 and a 200 day moving average price of $162.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06.

Lennar (NYSE:LEN) last released its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing the consensus estimate of $4.15 by ($0.12). The firm had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $10.06 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $4.82 earnings per share. Sell-side analysts expect that Lennar Co. will post 12.52 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar’s payout ratio is 13.95%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LEN shares. Wedbush reissued a “neutral” rating and issued a $164.00 target price on shares of Lennar in a research report on Thursday, December 19th. The Goldman Sachs Group decreased their price objective on Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, December 23rd. Wolfe Research cut Lennar from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Bank of America decreased their price objective on Lennar from $150.00 to $140.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods decreased their price objective on Lennar from $170.00 to $152.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $166.06.

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.