Texas Permanent School Fund Corp Has $1.81 Million Holdings in Lennar Corporation $LEN

Texas Permanent School Fund Corp lowered its holdings in Lennar Corporation (NYSE:LEN) by 35.4% in the second quarter, Holdings Channel.com reports. The firm owned 16,352 shares of the construction company’s stock after selling 8,966 shares during the period. Texas Permanent School Fund Corp’s holdings in Lennar were worth $1,809,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Lazard Asset Management LLC lifted its stake in Lennar by 7.1% in the 2nd quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock worth $141,000 after acquiring an additional 85 shares in the last quarter. EP Wealth Advisors LLC grew its position in Lennar by 2.3% during the first quarter. EP Wealth Advisors LLC now owns 4,782 shares of the construction company’s stock valued at $549,000 after purchasing an additional 107 shares in the last quarter. Brighton Jones LLC increased its stake in Lennar by 6.1% in the 2nd quarter. Brighton Jones LLC now owns 2,049 shares of the construction company’s stock valued at $227,000 after buying an additional 118 shares during the period. Coldstream Capital Management Inc. lifted its position in Lennar by 1.9% in the 2nd quarter. Coldstream Capital Management Inc. now owns 6,430 shares of the construction company’s stock worth $711,000 after buying an additional 120 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Lennar by 3.4% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,708 shares of the construction company’s stock valued at $426,000 after buying an additional 121 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

LEN has been the subject of several recent research reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $120.00 price objective on shares of Lennar in a report on Thursday. Evercore ISI downgraded Lennar from an “in-line” rating to an “underperform” rating and cut their price target for the stock from $114.00 to $92.00 in a research note on Thursday. UBS Group lowered their price target on Lennar from $161.00 to $137.00 and set a “buy” rating for the company in a research note on Thursday. Barclays cut their price objective on shares of Lennar from $98.00 to $88.00 and set an “underweight” rating on the stock in a research report on Thursday. Finally, Citigroup reissued an “outperform” rating on shares of Lennar in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and seven have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $109.62.

Lennar Stock Down 1.0%

Shares of Lennar stock opened at $106.92 on Tuesday. Lennar Corporation has a 12-month low of $98.42 and a 12-month high of $144.24. The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $122.50 and a two-hundred day moving average price of $121.69. The stock has a market capitalization of $27.27 billion, a P/E ratio of 13.38, a PEG ratio of 1.01 and a beta of 1.38.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Tuesday, December 16th. The construction company reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.27). Lennar had a return on equity of 9.27% and a net margin of 6.08%.The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.17 billion. During the same quarter in the previous year, the firm posted $4.03 earnings per share. Lennar’s quarterly revenue was down 5.8% compared to the same quarter last year. Equities analysts expect that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Friday, October 10th were paid a $0.50 dividend. The ex-dividend date was Friday, October 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.9%. Lennar’s payout ratio is presently 25.03%.

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.