Lennar Co. (NYSE:LEN) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its holdings in shares of Lennar Co. (NYSE:LEN) by 7.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 248,748 shares of the construction company’s stock after selling 20,838 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Lennar worth $46,635,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LEN. Lakewood Asset Management LLC boosted its holdings in Lennar by 0.8% in the second quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock valued at $1,407,000 after purchasing an additional 70 shares during the period. NorthCrest Asset Manangement LLC increased its stake in shares of Lennar by 1.5% during the second quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock worth $730,000 after buying an additional 73 shares during the period. Aaron Wealth Advisors LLC raised its holdings in Lennar by 5.7% in the second quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock valued at $207,000 after acquiring an additional 74 shares in the last quarter. Quotient Wealth Partners LLC grew its holdings in Lennar by 5.0% during the 2nd quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock worth $231,000 after acquiring an additional 74 shares in the last quarter. Finally, BBR Partners LLC increased its position in shares of Lennar by 3.4% in the 2nd quarter. BBR Partners LLC now owns 2,427 shares of the construction company’s stock valued at $364,000 after purchasing an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on LEN. Citigroup boosted their target price on shares of Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. JMP Securities increased their price objective on Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a report on Wednesday, September 25th. Bank Of America (Bofa) upped their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Zelman & Associates upgraded shares of Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Finally, Evercore ISI dropped their target price on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $181.11.

Lennar Trading Up 0.9 %

Shares of LEN stock opened at $171.60 on Thursday. The company has a market capitalization of $46.55 billion, a P/E ratio of 11.67, a price-to-earnings-growth ratio of 1.62 and a beta of 1.61. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $181.82 and its two-hundred day moving average is $167.43. Lennar Co. has a twelve month low of $104.68 and a twelve month high of $193.80.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same period in the previous year, the company posted $3.91 EPS. Lennar’s revenue was up 7.9% compared to the same quarter last year. Equities analysts forecast that Lennar Co. will post 14.18 EPS for the current year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Wednesday, October 9th. Lennar’s dividend payout ratio is presently 13.60%.

Insider Transactions at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the transaction, the director now owns 23,689 shares of the company’s stock, valued at $4,148,654.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 9.36% of the company’s stock.

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.