State of New Jersey Common Pension Fund D Sells 6,981 Shares of Lennar Co. (NYSE:LEN)

State of New Jersey Common Pension Fund D cut its stake in shares of Lennar Co. (NYSE:LEN) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,329 shares of the construction company’s stock after selling 6,981 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Lennar were worth $11,364,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Armstrong Advisory Group Inc. grew its holdings in Lennar by 69.4% in the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after buying an additional 75 shares in the last quarter. Crews Bank & Trust acquired a new position in shares of Lennar in the fourth quarter valued at about $25,000. Oakworth Capital Inc. bought a new position in Lennar during the third quarter worth about $27,000. GHP Investment Advisors Inc. bought a new stake in Lennar in the 3rd quarter valued at about $30,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of Lennar during the 4th quarter worth approximately $32,000. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Up 0.1 %

Lennar stock opened at $123.85 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. The stock has a market cap of $32.88 billion, a PE ratio of 8.64, a price-to-earnings-growth ratio of 1.28 and a beta of 1.67. Lennar Co. has a fifty-two week low of $119.25 and a fifty-two week high of $193.80. The firm’s 50-day simple moving average is $136.81 and its 200 day simple moving average is $162.78.

Lennar (NYSE:LEN) last released its earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($0.12). The business had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $10.06 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business’s revenue was down 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $4.82 earnings per share. Research analysts predict that Lennar Co. will post 12.52 EPS for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 annualized dividend and a yield of 1.61%. Lennar’s payout ratio is currently 13.95%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Royal Bank of Canada dropped their target price on shares of Lennar from $130.00 to $125.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Keefe, Bruyette & Woods decreased their price target on Lennar from $170.00 to $152.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Wells Fargo & Company dropped their price objective on Lennar from $180.00 to $165.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. JPMorgan Chase & Co. lowered their target price on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Finally, Wedbush reissued a “neutral” rating and set a $164.00 price objective on shares of Lennar in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $166.06.

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.