Teacher Retirement System of Texas Increases Holdings in Lennar Co. (NYSE:LEN)

Teacher Retirement System of Texas grew its holdings in Lennar Co. (NYSE:LEN) by 48.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 123,379 shares of the construction company’s stock after acquiring an additional 40,012 shares during the period. Teacher Retirement System of Texas’ holdings in Lennar were worth $16,825,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Armstrong Advisory Group Inc. lifted its position in shares of Lennar by 69.4% in the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after acquiring an additional 75 shares in the last quarter. Crews Bank & Trust bought a new stake in shares of Lennar in the fourth quarter worth about $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Lennar in the fourth quarter worth about $28,000. ORG Wealth Partners LLC bought a new stake in shares of Lennar in the fourth quarter worth about $32,000. Finally, Wolff Wiese Magana LLC increased its holdings in shares of Lennar by 51.0% in the fourth quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company’s stock worth $32,000 after purchasing an additional 79 shares during the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Trading Down 4.1 %

LEN opened at $115.09 on Friday. 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 $30.56 billion, a price-to-earnings ratio of 8.03, a P/E/G ratio of 1.24 and a beta of 1.69. The stock’s 50 day moving average price is $126.09 and its 200-day moving average price is $153.48. Lennar Co. has a one year low of $111.26 and a one year high of $187.61.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.44. The firm had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. Lennar’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.57 earnings per share. On average, equities analysts forecast that Lennar Co. will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.74%. Lennar’s dividend payout ratio is currently 13.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. BTIG Research cut Lennar from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Wedbush reaffirmed a “neutral” rating and issued a $158.00 target price on shares of Lennar in a report on Monday, March 17th. JPMorgan Chase & Co. reduced their price objective on Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Seaport Res Ptn raised Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Finally, Citigroup reduced their price objective on Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Fourteen equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Lennar currently has a consensus rating of “Hold” and an average price target of $164.53.

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.