State of New Jersey Common Pension Fund D Sells 11,308 Shares of Lennar Corporation $LEN

State of New Jersey Common Pension Fund D reduced its stake in shares of Lennar Corporation (NYSE:LEN) by 15.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 63,093 shares of the construction company’s stock after selling 11,308 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Lennar were worth $6,979,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Secured Retirement Advisors LLC bought a new stake in Lennar during the first quarter worth $926,000. Marks Group Wealth Management Inc grew its stake in shares of Lennar by 15.4% in the 1st quarter. Marks Group Wealth Management Inc now owns 2,183 shares of the construction company’s stock worth $251,000 after acquiring an additional 292 shares in the last quarter. Turtle Creek Wealth Advisors LLC grew its stake in shares of Lennar by 24.8% in the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 42,041 shares of the construction company’s stock worth $4,825,000 after acquiring an additional 8,357 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc grew its position in Lennar by 77.7% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 3,649 shares of the construction company’s stock worth $419,000 after purchasing an additional 1,596 shares in the last quarter. Finally, Brown Advisory Inc. grew its position in Lennar by 5.4% in the 1st quarter. Brown Advisory Inc. now owns 6,965 shares of the construction company’s stock worth $799,000 after purchasing an additional 354 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

Lennar Stock Up 0.3%

LEN stock opened at $127.69 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49. The company has a market capitalization of $32.56 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 5.94 and a beta of 1.37. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $180.12. The stock has a fifty day moving average of $129.55 and a 200-day moving average of $117.49.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. The firm had revenue of $8.81 billion during the quarter, compared to analyst estimates of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the business earned $3.90 earnings per share. As a group, equities research analysts predict that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, October 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, October 10th. Lennar’s dividend payout ratio (DPR) is presently 19.76%.

Analyst Ratings Changes

Several research firms have recently issued reports on LEN. Wells Fargo & Company reduced their target price on Lennar from $135.00 to $125.00 and set an “equal weight” rating for the company in a report on Friday, October 10th. Wedbush restated a “neutral” rating and issued a $130.00 price objective on shares of Lennar in a research note on Monday, September 22nd. UBS Group upped their price objective on Lennar from $146.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. The Goldman Sachs Group increased their price target on shares of Lennar from $122.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Finally, Bank of America reduced their price target on shares of Lennar from $133.00 to $125.00 and set a “neutral” rating for the company in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Lennar presently has an average rating of “Hold” and an average target price of $121.75.

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.