Oregon Public Employees Retirement Fund Trims Stock Holdings in Lennar Co. (NYSE:LEN)

Oregon Public Employees Retirement Fund lessened its stake in shares of Lennar Co. (NYSE:LEN) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,999 shares of the construction company’s stock after selling 163 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Lennar were worth $3,147,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Privium Fund Management UK Ltd acquired a new stake in shares of Lennar in the second quarter valued at $377,000. Legacy Capital Wealth Partners LLC acquired a new position in Lennar in the 2nd quarter valued at about $329,000. Stiles Financial Services Inc increased its stake in Lennar by 38.7% during the second quarter. Stiles Financial Services Inc now owns 6,718 shares of the construction company’s stock worth $1,007,000 after purchasing an additional 1,874 shares during the period. Equitable Trust Co. acquired a new stake in shares of Lennar during the second quarter worth about $244,000. Finally, Summit Financial LLC grew its holdings in shares of Lennar by 79.4% in the second quarter. Summit Financial LLC now owns 2,599 shares of the construction company’s stock valued at $390,000 after purchasing an additional 1,150 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Trading Down 0.3 %

NYSE:LEN opened at $177.83 on Friday. The company has a market capitalization of $48.83 billion, a PE ratio of 12.09, a P/E/G ratio of 1.65 and a beta of 1.61. Lennar Co. has a 52-week low of $102.90 and a 52-week high of $186.60. The stock’s 50 day moving average price is $168.33 and its 200 day moving average price is $161.73. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last announced its earnings results on Monday, June 17th. The construction company reported $3.38 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $8.57 billion. On average, research analysts anticipate that Lennar Co. will post 14.16 EPS for the current year.

Lennar Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.00 dividend on an annualized basis and a yield of 1.12%. Lennar’s payout ratio is 13.60%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. BTIG Research lowered their target price on Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, June 20th. Wedbush raised Lennar from an “underperform” rating to a “neutral” rating and set a $144.00 price target on the stock in a research report on Tuesday, July 9th. Wells Fargo & Company boosted their price objective on Lennar from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $170.00 price target on shares of Lennar in a research note on Thursday, June 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $172.06.

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.