Kentucky Retirement Systems Insurance Trust Fund Reduces Position in Lennar Co. (NYSE:LEN)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in shares of Lennar Co. (NYSE:LEN) by 17.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,921 shares of the construction company’s stock after selling 1,235 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Lennar were worth $807,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LEN. Holocene Advisors LP purchased a new position in shares of Lennar during the third quarter valued at approximately $115,229,000. Pacer Advisors Inc. boosted its holdings in shares of Lennar by 22.0% in the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock valued at $446,110,000 after purchasing an additional 589,553 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Lennar by 21.4% in the fourth quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company’s stock valued at $308,696,000 after purchasing an additional 397,492 shares during the period. KBC Group NV boosted its holdings in shares of Lennar by 258.3% in the third quarter. KBC Group NV now owns 494,848 shares of the construction company’s stock valued at $92,774,000 after purchasing an additional 356,731 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of Lennar by 23,048.0% in the third quarter. International Assets Investment Management LLC now owns 150,462 shares of the construction company’s stock valued at $28,209,000 after purchasing an additional 149,812 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LEN shares. Barclays lowered their price target on Lennar from $135.00 to $121.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. UBS Group lowered their price target on Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Citigroup lowered their price target on Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, January 6th. The Goldman Sachs Group lowered their target price on Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, December 23rd. Finally, 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 report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $163.88.

Lennar Stock Performance

Shares of LEN stock opened at $122.37 on Wednesday. The business’s fifty day simple moving average is $135.97 and its 200-day simple moving average is $162.41. The company has a market cap of $32.49 billion, a PE ratio of 8.53, a PEG ratio of 1.28 and a beta of 1.67. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. Lennar Co. has a 12-month low of $119.25 and a 12-month high of $193.80.

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

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were paid a $0.50 dividend. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.63%. Lennar’s dividend payout ratio (DPR) is 13.95%.

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.