State of New Jersey Common Pension Fund D Sells 5,731 Shares of Lennar Corporation $LEN
by Jessica Moore · The Cerbat GemState of New Jersey Common Pension Fund D lowered its position in Lennar Corporation (NYSE:LEN – Free Report) by 8.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,886 shares of the construction company’s stock after selling 5,731 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Lennar were worth $6,259,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Guerra Advisors Inc bought a new stake in shares of Lennar in the 3rd quarter worth approximately $25,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Lennar in the 3rd quarter worth approximately $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of Lennar in the 3rd quarter worth approximately $26,000. High Point Wealth Management LLC bought a new stake in shares of Lennar in the 4th quarter worth approximately $31,000. Finally, Washington Trust Advisors Inc. lifted its position in shares of Lennar by 102.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 371 shares of the construction company’s stock worth $47,000 after acquiring an additional 188 shares during the period. Institutional investors own 81.10% of the company’s stock.
Lennar Price Performance
Lennar stock opened at $88.55 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97. The company has a market capitalization of $21.87 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.94 and a beta of 1.41. Lennar Corporation has a one year low of $83.03 and a one year high of $144.24. The business has a 50 day simple moving average of $95.71 and a 200 day simple moving average of $110.22.
Lennar (NYSE:LEN – Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.07). Lennar had a net margin of 5.39% and a return on equity of 7.80%. The business had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the previous year, the firm posted $2.14 EPS. The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. On average, sell-side analysts forecast that Lennar Corporation will post 5.91 EPS for the current fiscal year.
Lennar Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd will be given a $0.50 dividend. The ex-dividend date is Wednesday, April 22nd. This represents a $2.00 annualized dividend and a yield of 2.3%. Lennar’s payout ratio is presently 28.74%.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the company. Truist Financial reduced their price objective on Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Tuesday, March 31st. Barclays cut their target price on Lennar from $85.00 to $80.00 and set an “underweight” rating for the company in a research report on Wednesday, April 8th. Argus cut their target price on Lennar from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Royal Bank Of Canada set a $88.00 target price on Lennar in a research report on Friday, January 9th. Finally, Keefe, Bruyette & Woods cut their target price on Lennar from $105.00 to $97.00 and set a “market perform” rating for the company in a research report on Wednesday, April 1st. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat.com, Lennar currently has a consensus rating of “Reduce” and a consensus target price of $99.87.
Check Out Our Latest Research Report on LEN
Lennar Company 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.