TIAA Trust National Association Has $217,000 Position in Lennar Co. (NYSE:LEN)

TIAA Trust National Association trimmed its holdings in Lennar Co. (NYSE:LEN) by 9.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,447 shares of the construction company’s stock after selling 153 shares during the quarter. TIAA Trust National Association’s holdings in Lennar were worth $217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in LEN. Gilbert & Cook Inc. grew its position in shares of Lennar by 5.5% during the 4th quarter. Gilbert & Cook Inc. now owns 4,053 shares of the construction company’s stock worth $604,000 after buying an additional 211 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new stake in Lennar in the fourth quarter worth $69,000. Private Advisor Group LLC increased its stake in Lennar by 1.2% in the fourth quarter. Private Advisor Group LLC now owns 8,366 shares of the construction company’s stock valued at $1,247,000 after purchasing an additional 97 shares in the last quarter. Warther Private Wealth LLC acquired a new position in shares of Lennar during the fourth quarter valued at about $3,356,000. Finally, Cary Street Partners Investment Advisory LLC boosted its position in shares of Lennar by 89.7% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,652 shares of the construction company’s stock worth $246,000 after purchasing an additional 781 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Performance

Shares of LEN opened at $179.42 on Friday. The stock has a 50 day moving average of $168.92 and a 200 day moving average of $161.93. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. Lennar Co. has a 12 month low of $102.90 and a 12 month high of $186.60. The company has a market capitalization of $49.27 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 1.65 and a beta of 1.61.

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

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Stockholders 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 dividend yield of 1.11%. The ex-dividend date was Friday, July 5th. Lennar’s dividend payout ratio is currently 13.60%.

Analyst Upgrades and Downgrades

LEN has been the subject of a number of research analyst reports. BTIG Research decreased their target price on Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, June 20th. The Goldman Sachs Group lowered Lennar from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $180.00 to $174.00 in a research report on Monday, July 22nd. JMP Securities reissued a “market outperform” rating and issued a $170.00 price target on shares of Lennar in a research report on Thursday, June 20th. Evercore ISI upped their price objective on shares of Lennar from $237.00 to $240.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $172.06.

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.