Teacher Retirement System of Texas Grows Position in Lennar Co. (NYSE:LEN)

Teacher Retirement System of Texas increased its position in Lennar Co. (NYSE:LEN) by 48.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 123,379 shares of the construction company’s stock after purchasing an additional 40,012 shares during the quarter. Teacher Retirement System of Texas’ holdings in Lennar were worth $16,825,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in LEN. Holocene Advisors LP purchased a new position in shares of Lennar in the 3rd quarter valued at approximately $115,229,000. Pacer Advisors Inc. lifted its stake in shares of Lennar by 22.0% in the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock valued at $446,110,000 after purchasing an additional 589,553 shares during the period. Nordea Investment Management AB increased its position in Lennar by 21.4% during the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after buying an additional 397,492 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in Lennar by 2,774.5% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 123,142 shares of the construction company’s stock valued at $16,793,000 after buying an additional 118,858 shares in the last quarter. Finally, Prana Capital Management LP increased its position in Lennar by 68.6% during the 3rd quarter. Prana Capital Management LP now owns 288,661 shares of the construction company’s stock valued at $54,118,000 after buying an additional 117,430 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wells Fargo & Company reduced their price objective on Lennar from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Tuesday. Bank of America reduced their price objective on Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. reduced their price objective on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Royal Bank of Canada reduced their target price on Lennar from $130.00 to $125.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Finally, Wedbush reissued a “neutral” rating and issued a $158.00 target price on shares of Lennar in a report on Monday, March 17th. Fourteen analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lennar presently has an average rating of “Hold” and an average target price of $164.53.

Lennar Stock Performance

LEN stock opened at $115.09 on Friday. The company has a market cap of $30.56 billion, a P/E ratio of 8.03, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. Lennar Co. has a 1 year low of $111.26 and a 1 year high of $187.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The stock’s fifty day moving average price is $126.09 and its 200-day moving average price is $153.48.

Lennar (NYSE:LEN) last released its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.44. The company had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. Lennar’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.57 earnings per share. On average, equities analysts forecast that Lennar Co. will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 annualized dividend and a yield of 1.74%. Lennar’s dividend payout ratio (DPR) is presently 13.95%.

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.