Public Employees Retirement System of Ohio Takes Position in Lennar Corporation $LEN

Public Employees Retirement System of Ohio purchased a new position in shares of Lennar Corporation (NYSE:LEN) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 67,157 shares of the construction company’s stock, valued at approximately $6,077,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Magnolia Group LLC bought a new stake in Lennar in the 4th quarter valued at $6,756,000. MUFG Securities EMEA plc boosted its position in Lennar by 2,522.7% during the fourth quarter. MUFG Securities EMEA plc now owns 114,245 shares of the construction company’s stock worth $11,744,000 after purchasing an additional 109,889 shares during the period. Element Capital Management LLC acquired a new position in shares of Lennar in the fourth quarter valued at $6,437,000. Myriad Asset Management Advisors LLC bought a new position in shares of Lennar in the fourth quarter valued at about $1,511,000. Finally, Cutler Investment Counsel LLC lifted its stake in shares of Lennar by 59.3% during the 4th quarter. Cutler Investment Counsel LLC now owns 42,464 shares of the construction company’s stock worth $4,365,000 after buying an additional 15,802 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LEN shares. Argus set a $108.00 price target on shares of Lennar in a research note on Thursday, July 9th. The Goldman Sachs Group restated a “neutral” rating on shares of Lennar in a report on Friday, June 5th. JPMorgan Chase & Co. decreased their target price on Lennar from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 16th. Keefe, Bruyette & Woods dropped their price target on Lennar from $86.00 to $85.00 and set an “underperform” rating for the company in a report on Wednesday, June 17th. Finally, Royal Bank Of Canada decreased their price objective on Lennar from $88.00 to $85.00 and set an “underperform” rating on the stock in a report on Monday, June 15th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and ten have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Lennar currently has an average rating of “Reduce” and an average price target of $92.13.

Lennar Stock Performance

Shares of NYSE:LEN opened at $83.07 on Wednesday. Lennar Corporation has a 12-month low of $79.82 and a 12-month high of $144.24. The company’s 50 day moving average price is $86.20 and its two-hundred day moving average price is $91.63. The firm has a market cap of $20.01 billion, a PE ratio of 13.00, a PEG ratio of 2.79 and a beta of 1.39. The company has a quick ratio of 0.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.19.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.07. The business had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $8.08 billion. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.81 earnings per share. Equities research analysts predict that Lennar Corporation will post 5.52 earnings per share for the current year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 10th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.00 annualized dividend and a yield of 2.4%. Lennar’s payout ratio is currently 31.30%.

Lennar Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.