Kentucky Retirement Systems Insurance Trust Fund Lowers Holdings in Lennar Co. (NYSE:LEN)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in Lennar Co. (NYSE:LEN) by 9.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,156 shares of the construction company’s stock after selling 742 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Lennar were worth $1,342,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Lakewood Asset Management LLC raised its position in shares of Lennar by 0.8% in the 2nd quarter. Lakewood Asset Management LLC now owns 9,385 shares of the construction company’s stock worth $1,407,000 after acquiring an additional 70 shares in the last quarter. NorthCrest Asset Manangement LLC raised its position in shares of Lennar by 1.5% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 4,870 shares of the construction company’s stock worth $730,000 after acquiring an additional 73 shares in the last quarter. Aaron Wealth Advisors LLC raised its position in shares of Lennar by 5.7% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock worth $207,000 after acquiring an additional 74 shares in the last quarter. Quotient Wealth Partners LLC increased its position in Lennar by 5.0% during the 2nd quarter. Quotient Wealth Partners LLC now owns 1,540 shares of the construction company’s stock valued at $231,000 after buying an additional 74 shares in the last quarter. Finally, Jupiter Wealth Management LLC raised its stake in Lennar by 1.0% in the third quarter. Jupiter Wealth Management LLC now owns 7,667 shares of the construction company’s stock valued at $1,437,000 after buying an additional 75 shares during the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Stock Down 0.6 %

Lennar stock opened at $168.85 on Friday. The firm has a market cap of $45.80 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 1.58 and a beta of 1.62. Lennar Co. has a 52 week low of $125.17 and a 52 week high of $193.80. The business’s 50-day moving average price is $179.35 and its 200 day moving average price is $168.88. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping the consensus estimate of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same period last year, the company earned $3.91 earnings per share. Lennar’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lennar Co. will post 14.18 earnings per share 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 annualized dividend and a yield of 1.18%. The ex-dividend date was Wednesday, October 9th. Lennar’s payout ratio is currently 13.25%.

Insider Buying and Selling at Lennar

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $175.13, for a total value of $3,064,775.00. Following the sale, the director now directly owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This trade represents a 42.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Bank Of America (Bofa) increased their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Zelman & Associates upgraded Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. Royal Bank of Canada increased their price target on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research note on Monday, September 23rd. Bank of America increased their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Finally, Evercore ISI decreased their price target on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Lennar currently has a consensus rating of “Hold” and an average target price of $180.56.

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.