Lennar Co. (NYSE:LEN) Stake Lowered by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its position in shares of Lennar Co. (NYSE:LEN) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,452 shares of the construction company’s stock after selling 318 shares during the period. Kentucky Retirement Systems’ holdings in Lennar were worth $2,765,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Gilbert & Cook Inc. lifted its holdings 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 valued at $604,000 after buying an additional 211 shares during the last quarter. Gladstone Institutional Advisory LLC acquired a new stake in Lennar in the fourth quarter valued at approximately $218,000. Clearbridge Investments LLC grew its position in Lennar by 9.1% in the fourth quarter. Clearbridge Investments LLC now owns 31,158 shares of the construction company’s stock worth $4,644,000 after acquiring an additional 2,595 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Lennar by 53.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 33,925 shares of the construction company’s stock worth $5,056,000 after purchasing an additional 11,851 shares during the last quarter. Finally, FineMark National Bank & Trust acquired a new stake in shares of Lennar in the 4th quarter valued at $211,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Ratings Changes

LEN has been the topic of several analyst reports. Argus increased their target price on shares of Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Royal Bank of Canada reissued an “underperform” rating and issued a $145.00 price objective on shares of Lennar in a research note on Thursday, June 20th. Bank of America increased their price target on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday. Keefe, Bruyette & Woods upped their price objective on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Finally, Wells Fargo & Company raised their target price on shares of Lennar from $195.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Lennar currently has an average rating of “Hold” and an average price target of $174.61.

Lennar Price Performance

Shares of LEN stock opened at $182.48 on Friday. The company has a market capitalization of $50.11 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.61 and a beta of 1.61. 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 $193.80. The stock has a 50 day moving average of $176.53 and a two-hundred day moving average of $163.96.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The firm had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. During the same quarter in the previous year, the company earned $3.91 earnings per share. The business’s revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts expect that Lennar Co. will post 14.16 EPS for the current year.

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.