Teachers Retirement System of The State of Kentucky Decreases Position in Lennar Co. (NYSE:LEN)

Teachers Retirement System of The State of Kentucky cut its position in Lennar Co. (NYSE:LEN) by 4.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 21,840 shares of the construction company’s stock after selling 1,075 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Lennar were worth $3,255,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of LEN. Kestra Advisory Services LLC raised its holdings in shares of Lennar by 12.4% during the third quarter. Kestra Advisory Services LLC now owns 28,229 shares of the construction company’s stock valued at $3,168,000 after purchasing an additional 3,111 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Lennar during the third quarter valued at approximately $491,000. V Square Quantitative Management LLC purchased a new position in shares of Lennar during the third quarter valued at approximately $187,000. Clearbridge Investments LLC raised its holdings in shares of Lennar by 4.5% during the third quarter. Clearbridge Investments LLC now owns 28,563 shares of the construction company’s stock valued at $3,206,000 after purchasing an additional 1,230 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in shares of Lennar by 15.9% during the third quarter. LPL Financial LLC now owns 110,053 shares of the construction company’s stock valued at $12,351,000 after purchasing an additional 15,136 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lennar

In related news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.11, for a total transaction of $1,701,100.00. Following the sale, the insider now owns 118,629 shares of the company’s stock, valued at $20,179,979.19. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.11, for a total transaction of $1,701,100.00. Following the sale, the insider now owns 118,629 shares of the company’s stock, valued at $20,179,979.19. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Amy Banse purchased 1,575 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were acquired at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the purchase, the director now owns 11,859 shares of the company’s stock, valued at $1,861,863. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 29,176 shares of company stock valued at $4,841,039. 9.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wedbush reissued an “underperform” rating and set a $144.00 price objective on shares of Lennar in a report on Tuesday. UBS Group boosted their target price on shares of Lennar from $190.00 to $198.00 and gave the company a “buy” rating in a research report on Friday, March 15th. JPMorgan Chase & Co. cut their target price on shares of Lennar from $161.00 to $157.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Lennar from $110.00 to $122.00 and gave the company a “sell” rating in a research report on Thursday, March 14th. Finally, Royal Bank of Canada cut their target price on shares of Lennar from $137.00 to $136.00 and set an “underweight” rating for the company in a research report on Thursday, March 14th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $166.80.

Lennar Price Performance

LEN stock opened at $148.76 on Wednesday. Lennar Co. has a one year low of $102.90 and a one year high of $172.59. The company’s fifty day moving average price is $157.06 and its 200-day moving average price is $154.86. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.27 and a current ratio of 5.47. The company has a market capitalization of $41.41 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 1.45 and a beta of 1.57.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Tuesday, April 23rd. Lennar’s dividend payout ratio (DPR) is presently 14.02%.

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.