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

State of New Jersey Common Pension Fund D trimmed its position in Lennar Corporation (NYSE:LEN) by 15.2% in the 2nd quarter, Holdings Channel reports. The firm owned 63,093 shares of the construction company’s stock after selling 11,308 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Lennar were worth $6,979,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of LEN. FNY Investment Advisers LLC bought a new stake in Lennar during the second quarter valued at $33,000. Disciplina Capital Management LLC boosted its position in shares of Lennar by 179.8% during the 1st quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock valued at $38,000 after acquiring an additional 214 shares during the last quarter. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Lennar during the 2nd quarter valued at about $43,000. Wayfinding Financial LLC bought a new stake in shares of Lennar during the 1st quarter valued at about $44,000. Finally, Valley National Advisers Inc. lifted its position in Lennar by 34.7% during the first quarter. Valley National Advisers Inc. now owns 466 shares of the construction company’s stock valued at $53,000 after purchasing an additional 120 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on LEN shares. Evercore ISI dropped their target price on shares of Lennar from $118.00 to $114.00 and set an “in-line” rating for the company in a research report on Tuesday, October 7th. Raymond James Financial downgraded Lennar from a “market perform” rating to an “underperform” rating in a research report on Monday, September 22nd. The Goldman Sachs Group lifted their price target on Lennar from $122.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Wedbush reaffirmed a “neutral” rating and set a $130.00 price target on shares of Lennar in a research note on Monday, September 22nd. Finally, Royal Bank Of Canada boosted their target price on Lennar from $98.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $121.75.

Lennar Trading Up 0.3%

NYSE LEN opened at $127.69 on Monday. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $180.12. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average of $129.55 and a 200-day moving average of $117.49. The firm has a market cap of $32.56 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 5.94 and a beta of 1.37.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.15. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The firm had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $9.01 billion. During the same quarter in the previous year, the company posted $3.90 earnings per share. The business’s revenue was down 6.4% on a year-over-year basis. As a group, sell-side analysts forecast that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Friday, October 10th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, October 10th. Lennar’s dividend payout ratio is 19.76%.

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.