Teachers Retirement System of The State of Kentucky Sells 1,555 Shares of Lennar Co. (NYSE:LEN)

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Lennar Co. (NYSE:LEN) by 7.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,339 shares of the construction company’s stock after selling 1,555 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Lennar were worth $3,438,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in LEN. Oakworth Capital Inc. bought a new stake in shares of Lennar during the third quarter valued at approximately $27,000. Wolff Wiese Magana LLC increased its stake in Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. GHP Investment Advisors Inc. acquired a new position in Lennar during the third quarter worth $30,000. Asset Dedication LLC lifted its stake in shares of Lennar by 4,225.0% in the third quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock valued at $32,000 after buying an additional 169 shares in the last quarter. Finally, DT Investment Partners LLC raised its holdings in shares of Lennar by 523.3% in the 3rd quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock worth $35,000 after acquiring an additional 157 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Insider Activity at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar 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 completion of the sale, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.36% of the stock is owned by corporate insiders.

Lennar Price Performance

LEN opened at $154.39 on Friday. The company has a market capitalization of $41.88 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 1.31 and a beta of 1.61. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $172.46 and a 200-day moving average price of $169.96. Lennar Co. has a twelve month low of $140.65 and a twelve month high of $193.80.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.28. The company had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm’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 earnings per share. Equities analysts expect that Lennar Co. will post 14.11 EPS for the current year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given a $0.50 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.30%. Lennar’s dividend payout ratio (DPR) is currently 13.25%.

Wall Street Analyst Weigh In

LEN has been the subject of a number of analyst reports. Bank Of America (Bofa) lifted 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. Keefe, Bruyette & Woods increased their price target on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Royal Bank of Canada increased their target price on shares of Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a report on Monday, September 23rd. Finally, JMP Securities upped their price objective on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $183.76.

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.