Texas Permanent School Fund Corp Has $5.86 Million Holdings in Lennar Co. (NYSE:LEN)

Texas Permanent School Fund Corp lowered its stake in Lennar Co. (NYSE:LENFree Report) by 0.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 52,197 shares of the construction company’s stock after selling 269 shares during the period. Texas Permanent School Fund Corp’s holdings in Lennar were worth $5,858,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of LEN. First Trust Advisors LP boosted its stake in Lennar by 551.1% in the first quarter. First Trust Advisors LP now owns 1,824,684 shares of the construction company’s stock valued at $191,793,000 after buying an additional 1,544,432 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Lennar by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,542,363 shares of the construction company’s stock valued at $173,099,000 after purchasing an additional 6,803 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Lennar by 25.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 838,479 shares of the construction company’s stock valued at $88,134,000 after purchasing an additional 171,065 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Lennar by 13.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 830,482 shares of the construction company’s stock valued at $93,205,000 after purchasing an additional 101,054 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Lennar by 14.2% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 814,206 shares of the construction company’s stock valued at $102,028,000 after purchasing an additional 101,484 shares in the last quarter. Institutional investors own 79.87% of the company’s stock.

Lennar Trading Down 0.2 %

NYSE LEN opened at $153.02 on Monday. The company has a market cap of $42.97 billion, a price-to-earnings ratio of 11.12, a P/E/G ratio of 2.00 and a beta of 1.53. Lennar Co. has a 52 week low of $94.11 and a 52 week high of $156.01. The business has a 50 day moving average price of $147.96 and a 200-day moving average price of $128.32. The company has a quick ratio of 1.72, a current ratio of 6.12 and a debt-to-equity ratio of 0.11.

Lennar (NYSE:LENGet Free Report) last announced its quarterly earnings results on Friday, December 15th. The construction company reported $4.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.23. Lennar had a return on equity of 15.84% and a net margin of 11.51%. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.22 billion. During the same quarter in the prior year, the company posted $5.02 earnings per share. Lennar’s revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts expect that Lennar Co. will post 14.36 earnings per share for the current fiscal year.

Lennar Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, January 23rd. This represents a $2.00 annualized dividend and a yield of 1.31%. This is an increase from Lennar’s previous quarterly dividend of $0.38. Lennar’s dividend payout ratio is 14.53%.

Insider Buying and Selling

In related news, VP David M. Collins sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $130.00, for a total transaction of $1,300,000.00. Following the completion of the sale, the vice president now owns 37,060 shares in the company, valued at $4,817,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Lennar news, VP Mark Sustana sold 37,304 shares of the business’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $146.38, for a total value of $5,460,559.52. Following the transaction, the vice president now owns 18,694 shares of the company’s stock, valued at $2,736,427.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP David M. Collins sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $130.00, for a total value of $1,300,000.00. Following the completion of the transaction, the vice president now directly owns 37,060 shares in the company, valued at approximately $4,817,800. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,304 shares of company stock worth $8,237,860. 9.53% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LEN shares. StockNews.com raised Lennar from a “hold” rating to a “buy” rating in a research note on Friday, December 15th. The Goldman Sachs Group lifted their price objective on Lennar from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. Raymond James lifted their price objective on Lennar from $150.00 to $165.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 19th. Royal Bank of Canada lifted their price objective on Lennar from $114.00 to $137.00 and gave the stock an “underperform” rating in a research note on Monday, December 18th. Finally, JMP Securities lifted their target price on Lennar from $150.00 to $170.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.53.

View Our Latest Research Report on LEN

About Lennar

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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