Louisiana State Employees Retirement System Has $2.55 Million Position in Lennar Co. (NYSE:LEN)

Louisiana State Employees Retirement System reduced its position in shares of Lennar Co. (NYSE:LEN) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,600 shares of the construction company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Lennar were worth $2,550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in LEN. D1 Capital Partners L.P. increased its stake in Lennar by 428.9% during the 2nd quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock worth $362,685,000 after acquiring an additional 1,962,447 shares during the period. Pacer Advisors Inc. increased its stake in Lennar by 15.1% during the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock worth $452,886,000 after acquiring an additional 396,951 shares during the period. Zurich Insurance Group Ltd FI bought a new position in Lennar during the 1st quarter worth $61,807,000. Jacobs Levy Equity Management Inc. increased its stake in Lennar by 157.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock worth $98,889,000 after acquiring an additional 351,698 shares during the period. Finally, Marshall Wace LLP increased its stake in Lennar by 20.9% during the 2nd quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock worth $302,084,000 after acquiring an additional 348,553 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on LEN. Barclays raised their price objective on Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Citigroup raised their price objective on Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Evercore ISI decreased their price target on Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research note on Monday, September 23rd. JMP Securities lifted their price target on Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Wednesday, September 25th. Finally, Bank of America lifted 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. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $181.11.

Lennar Trading Up 0.5 %

Shares of LEN stock opened at $174.09 on Tuesday. The firm has a market capitalization of $47.22 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.62 and a beta of 1.61. Lennar Co. has a twelve month low of $103.41 and a twelve month high of $193.80. The stock’s fifty day simple moving average is $182.05 and its 200 day simple moving average is $167.32. 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 announced 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. The firm had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.91 EPS. As a group, sell-side analysts predict that Lennar Co. will post 14.18 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is presently 13.25%.

About Lennar

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.