11,000 Shares in Lennar Corporation $LEN Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in Lennar Corporation (NYSE:LEN) in the first quarter, Holdings Channel reports. The fund acquired 11,000 shares of the construction company’s stock, valued at approximately $955,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Viking Global Investors LP increased its holdings in shares of Lennar by 86.7% during the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock worth $279,135,000 after purchasing an additional 1,172,068 shares during the period. Van Lanschot Kempen Investment Management N.V. grew its position in Lennar by 90.9% during the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,963,373 shares of the construction company’s stock worth $201,835,000 after buying an additional 934,856 shares in the last quarter. Freestone Grove Partners LP bought a new position in Lennar during the 4th quarter worth $95,941,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Lennar by 14.6% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock valued at $596,504,000 after acquiring an additional 603,004 shares in the last quarter. Finally, Bank of Nova Scotia lifted its position in shares of Lennar by 1,303.1% during the 4th quarter. Bank of Nova Scotia now owns 490,105 shares of the construction company’s stock valued at $50,383,000 after acquiring an additional 455,174 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on LEN shares. Royal Bank Of Canada reduced their target price on Lennar from $88.00 to $85.00 and set an “underperform” rating on the stock in a report on Monday, June 15th. Truist Financial reduced their price objective on shares of Lennar from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Tuesday, March 31st. The Goldman Sachs Group restated a “neutral” rating on shares of Lennar in a research report on Friday, June 5th. Evercore upped their price target on shares of Lennar from $82.00 to $87.00 and gave the stock an “underperform” rating in a report on Monday, June 15th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Lennar in a research report on Thursday, June 11th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and ten have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $95.00.

Lennar Stock Performance

Shares of LEN stock opened at $88.15 on Monday. The firm has a market capitalization of $21.24 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 2.93 and a beta of 1.38. The company has a current ratio of 4.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. The business’s 50-day moving average price is $89.38 and its 200-day moving average price is $99.42. Lennar Corporation has a 12 month low of $81.18 and a 12 month high of $144.24.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The business had revenue of $7.94 billion during the quarter, compared to analyst estimates of $8.08 billion. During the same quarter last year, the business earned $1.81 EPS. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. Equities research analysts forecast that Lennar Corporation will post 5.51 EPS for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, July 10th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. Lennar’s dividend payout ratio (DPR) is presently 31.30%.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.