Kentucky Retirement Systems Has $2.27 Million Stake in Lennar Co. (NYSE:LEN)

Kentucky Retirement Systems decreased its position in Lennar Co. (NYSE:LEN) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 16,610 shares of the construction company’s stock after selling 228 shares during the period. Kentucky Retirement Systems’ holdings in Lennar were worth $2,265,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GHP Investment Advisors Inc. acquired a new stake in shares of Lennar in the 3rd quarter valued at about $30,000. Crews Bank & Trust acquired a new stake in shares of Lennar in the 4th quarter valued at about $25,000. Armstrong Advisory Group Inc. raised its stake in shares of Lennar by 69.4% in the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after purchasing an additional 75 shares during the period. DT Investment Partners LLC increased its position in shares of Lennar by 523.3% in the third quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock valued at $35,000 after acquiring an additional 157 shares during the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Lennar in the third quarter valued at about $39,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Trading Down 1.7 %

Shares of NYSE:LEN opened at $120.59 on Friday. Lennar Co. has a 12-month low of $117.90 and a 12-month high of $193.80. The stock has a market cap of $32.02 billion, a PE ratio of 8.41, a P/E/G ratio of 1.24 and a beta of 1.67. The business has a 50 day moving average of $133.10 and a 200-day moving average of $161.14. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $10.06 billion. During the same quarter in the prior year, the firm earned $4.82 EPS. The company’s revenue was down 9.3% on a year-over-year basis. As a group, equities research analysts forecast that Lennar Co. will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were given a $0.50 dividend. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.66%. Lennar’s payout ratio is 13.95%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, December 13th. Barclays lowered their target price on Lennar from $135.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company lowered their target price on Lennar from $145.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. The Goldman Sachs Group lowered their target price on Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, December 23rd. Finally, Bank of America lowered their target price on Lennar from $150.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $163.88.

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.