Lennar Co. (NYSE:LEN) Shares Sold by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund trimmed its position in Lennar Co. (NYSE:LEN) by 1.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 20,440 shares of the construction company’s stock after selling 202 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Lennar were worth $2,787,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LEN. Private Advisor Group LLC boosted its position in Lennar by 17.6% during the third quarter. Private Advisor Group LLC now owns 6,683 shares of the construction company’s stock worth $1,253,000 after acquiring an additional 998 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in Lennar during the third quarter worth approximately $388,000. Pallas Capital Advisors LLC purchased a new stake in shares of Lennar in the third quarter valued at $217,000. abrdn plc grew its position in shares of Lennar by 35.7% in the third quarter. abrdn plc now owns 73,885 shares of the construction company’s stock valued at $13,806,000 after purchasing an additional 19,418 shares during the period. Finally, Strategic Blueprint LLC purchased a new stake in shares of Lennar in the third quarter valued at $216,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Stock Performance

Lennar stock opened at $120.34 on Friday. The stock’s 50 day moving average price is $131.07 and its 200 day moving average price is $159.81. The firm has a market capitalization of $31.95 billion, a PE ratio of 8.39, a price-to-earnings-growth ratio of 1.24 and a beta of 1.67. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. Lennar Co. has a one year low of $117.90 and a one year high of $193.80.

Lennar (NYSE:LEN) last announced its earnings results 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%. Lennar’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $4.82 earnings per share. As a group, sell-side analysts expect that Lennar Co. will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.66%. Lennar’s dividend payout ratio is presently 13.95%.

Analysts Set New Price Targets

LEN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Wedbush reaffirmed a “neutral” rating and set a $164.00 price objective on shares of Lennar in a research note on Thursday, December 19th. Wells Fargo & Company cut their price target on shares of Lennar from $145.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Barclays cut their price target on shares of Lennar from $135.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods reduced their target price on Lennar from $170.00 to $152.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $163.88.

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.