State of New Jersey Common Pension Fund D Sells 54,699 Shares of Lennar Co. (NYSE:LEN)

State of New Jersey Common Pension Fund D trimmed its position in shares of Lennar Co. (NYSE:LEN) by 37.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,310 shares of the construction company’s stock after selling 54,699 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Lennar were worth $13,535,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC grew its stake in shares of Lennar by 484.0% in the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after purchasing an additional 121 shares during the period. J.Safra Asset Management Corp bought a new stake in shares of Lennar in the 1st quarter valued at approximately $30,000. New Covenant Trust Company N.A. bought a new stake in shares of Lennar in the 1st quarter valued at approximately $32,000. Redmont Wealth Advisors LLC bought a new stake in shares of Lennar in the 1st quarter valued at approximately $35,000. Finally, Fortitude Family Office LLC grew its stake in shares of Lennar by 223.6% in the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after purchasing an additional 161 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Citigroup reissued a “neutral” rating and issued a $164.00 target price (down from $174.00) on shares of Lennar in a report on Tuesday, July 2nd. BTIG Research reduced their target price on Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. JMP Securities reissued a “market outperform” rating and issued a $170.00 target price on shares of Lennar in a report on Thursday, June 20th. Keefe, Bruyette & Woods boosted their target price on Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Finally, Raymond James downgraded Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Lennar currently has an average rating of “Hold” and an average target price of $172.69.

Lennar Stock Performance

NYSE LEN opened at $185.91 on Friday. The stock has a market cap of $51.05 billion, a PE ratio of 12.64, a PEG ratio of 1.61 and a beta of 1.61. The firm’s fifty day moving average price is $172.66 and its two-hundred day moving average price is $162.90. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. Lennar Co. has a fifty-two week low of $102.90 and a fifty-two week high of $186.60.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Monday, June 17th. The construction company reported $3.38 EPS for the quarter, topping analysts’ consensus estimates of $3.20 by $0.18. The company had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.57 billion. Lennar had a net margin of 11.58% and a return on equity of 15.93%. On average, equities analysts expect that Lennar Co. will post 14.16 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were issued a $0.50 dividend. The ex-dividend date was Friday, July 5th. This represents a $2.00 annualized dividend and a yield of 1.08%. Lennar’s payout ratio is 13.60%.

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.