Lennar Corporation $LEN Shares Sold by National Pension Service

National Pension Service reduced its holdings in Lennar Corporation (NYSE:LEN) by 4.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 403,849 shares of the construction company’s stock after selling 17,271 shares during the quarter. National Pension Service’s holdings in Lennar were worth $44,670,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. FNY Investment Advisers LLC purchased a new stake in shares of Lennar during the second quarter worth about $33,000. Disciplina Capital Management LLC increased its position in shares of Lennar by 179.8% in the first quarter. Disciplina Capital Management LLC now owns 333 shares of the construction company’s stock worth $38,000 after acquiring an additional 214 shares in the last quarter. Mid American Wealth Advisory Group Inc. purchased a new position in Lennar in the second quarter valued at about $43,000. Zions Bancorporation National Association UT purchased a new stake in shares of Lennar during the 1st quarter valued at about $66,000. Finally, Transamerica Financial Advisors LLC lifted its position in shares of Lennar by 103.7% during the first quarter. Transamerica Financial Advisors LLC now owns 613 shares of the construction company’s stock worth $71,000 after purchasing an additional 312 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on LEN. Bank of America dropped their price objective on Lennar from $133.00 to $125.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. UBS Group upped their price target on shares of Lennar from $146.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Zacks Research cut Lennar from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 7th. Wedbush reiterated a “neutral” rating and issued a $130.00 price objective on shares of Lennar in a report on Monday, September 22nd. Finally, Raymond James Financial lowered shares of Lennar from a “market perform” rating to an “underperform” rating in a research report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $121.75.

Lennar Stock Performance

NYSE:LEN opened at $121.35 on Friday. The firm’s 50-day moving average is $126.78 and its 200-day moving average is $119.10. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49. The company has a market cap of $30.95 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 5.78 and a beta of 1.33. Lennar Corporation has a 52-week low of $98.42 and a 52-week high of $180.12.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, September 18th. The construction company reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.14). Lennar had a return on equity of 11.09% and a net margin of 7.72%.The business had revenue of $8.81 billion during the quarter, compared to analyst estimates of $9.01 billion. During the same period last year, the company earned $3.90 EPS. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. Equities research analysts anticipate that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 27th. Shareholders of record on Friday, October 10th were given a dividend of $0.50 per share. The ex-dividend date was Friday, October 10th. This represents a $2.00 dividend on an annualized basis and a yield of 1.6%. Lennar’s dividend payout ratio is presently 19.76%.

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.