South Dakota Investment Council Sells 3,300 Shares of Lennar Co. (NYSE:LEN)

South Dakota Investment Council lowered its stake in shares of Lennar Co. (NYSE:LEN) by 31.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,215 shares of the construction company’s stock after selling 3,300 shares during the period. South Dakota Investment Council’s holdings in Lennar were worth $1,075,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in LEN. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Lennar during the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. acquired a new position in shares of Lennar in the third quarter valued at approximately $28,000. BluePath Capital Management LLC bought a new position in shares of Lennar during the third quarter worth approximately $29,000. Criterion Capital Advisors LLC bought a new stake in Lennar in the 4th quarter valued at $36,000. Finally, NBC Securities Inc. acquired a new stake in shares of Lennar during the third quarter worth $56,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Lennar Stock Down 0.9 %

NYSE:LEN opened at $152.79 on Friday. Lennar Co. has a one year low of $102.90 and a one year high of $172.59. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.47 and a quick ratio of 1.27. The company has a market cap of $42.53 billion, a PE ratio of 10.71, a P/E/G ratio of 1.44 and a beta of 1.53. The firm’s 50 day simple moving average is $159.50 and its 200 day simple moving average is $143.55.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, March 14th. The construction company reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.36. The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.39 billion. Lennar had a net margin of 11.59% and a return on equity of 15.90%. Lennar’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.12 earnings per share. On average, research analysts anticipate that Lennar Co. will post 14.46 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $2.00 annualized dividend and a dividend yield of 1.31%. Lennar’s payout ratio is 14.02%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Citigroup raised their target price on shares of Lennar from $179.00 to $198.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Royal Bank of Canada cut their price target on shares of Lennar from $137.00 to $136.00 and set an “underweight” rating for the company in a report on Thursday, March 14th. Barclays upped their target price on Lennar from $173.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. decreased their price target on Lennar from $161.00 to $157.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Finally, Oppenheimer reissued a “market perform” rating on shares of Lennar in a report on Friday, March 15th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lennar presently has a consensus rating of “Moderate Buy” and an average target price of $163.88.

Insider Buying and Selling

In other news, Director Amy Banse purchased 1,575 shares of the stock in a transaction on Wednesday, April 10th. The stock was purchased at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the acquisition, the director now owns 11,859 shares in the company, valued at $1,861,863. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.36% of the stock is owned by insiders.

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.