Lennar Co. (NYSE:LEN) Holdings Decreased by State of Michigan Retirement System

State of Michigan Retirement System decreased its holdings in Lennar Co. (NYSE:LEN) by 2.3% during the second quarter, Holdings Channel.com reports. The firm owned 88,915 shares of the construction company’s stock after selling 2,100 shares during the period. State of Michigan Retirement System’s holdings in Lennar were worth $13,326,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Rise Advisors LLC lifted its position in Lennar by 484.0% in the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after buying an additional 121 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Lennar during the 1st quarter valued at about $30,000. New Covenant Trust Company N.A. bought a new stake in Lennar during the first quarter worth approximately $32,000. Redmont Wealth Advisors LLC bought a new position in shares of Lennar in the first quarter valued at approximately $35,000. Finally, Fortitude Family Office LLC lifted its stake in shares of Lennar by 223.6% in the second quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock worth $35,000 after buying an additional 161 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LEN has been the topic of several recent analyst reports. The Goldman Sachs Group downgraded shares of Lennar from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $180.00 to $174.00 in a report on Monday, July 22nd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $183.00 target price on shares of Lennar in a report on Tuesday, June 18th. Raymond James lowered Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Wedbush upgraded shares of Lennar from an “underperform” rating to a “neutral” rating and set a $144.00 target price on the stock in a research report on Tuesday, July 9th. Finally, JMP Securities restated a “market outperform” rating and issued a $170.00 price objective on shares of Lennar in a research report on Thursday, June 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Lennar currently has a consensus rating of “Hold” and a consensus price target of $169.13.

Lennar Price Performance

LEN stock opened at $182.39 on Tuesday. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The stock has a market cap of $50.09 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.60 and a beta of 1.60. Lennar Co. has a 1 year low of $102.90 and a 1 year high of $186.60. The stock has a 50-day moving average price of $163.40 and a two-hundred day moving average price of $160.33.

Lennar (NYSE:LEN) last announced its earnings results on Monday, June 17th. The construction company reported $3.38 EPS for the quarter, topping the consensus estimate of $3.20 by $0.18. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.57 billion. Equities analysts forecast that Lennar Co. will post 14.16 EPS for the current fiscal year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Friday, July 5th. Lennar’s dividend payout ratio (DPR) is presently 13.60%.

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.