Public Employees Retirement System of Ohio Buys Shares of 67,157 Lennar Corporation $LEN

Public Employees Retirement System of Ohio bought a new position in shares of Lennar Corporation (NYSE:LEN) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 67,157 shares of the construction company’s stock, valued at approximately $6,077,000.

A number of other hedge funds have also modified their holdings of the company. Viking Global Investors LP boosted its position in shares of Lennar by 86.7% during the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock worth $279,135,000 after purchasing an additional 1,172,068 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. raised its stake in Lennar by 90.9% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,963,373 shares of the construction company’s stock worth $201,835,000 after buying an additional 934,856 shares during the period. Freestone Grove Partners LP bought a new position in Lennar during the fourth quarter worth about $95,941,000. Bank of Nova Scotia lifted its holdings in Lennar by 1,303.1% during the fourth quarter. Bank of Nova Scotia now owns 490,105 shares of the construction company’s stock worth $50,383,000 after acquiring an additional 455,174 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Lennar by 19.7% in the first quarter. Janus Henderson Group PLC now owns 2,546,970 shares of the construction company’s stock valued at $221,176,000 after acquiring an additional 419,745 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LEN. Wells Fargo & Company dropped their price target on Lennar from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Monday, June 15th. BTIG Research set a $67.00 target price on Lennar in a research note on Monday, June 15th. UBS Group dropped their target price on shares of Lennar from $107.00 to $94.00 and set a “neutral” rating on the stock in a report on Tuesday, June 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Lennar in a report on Thursday, June 11th. Finally, Citigroup lowered their price objective on shares of Lennar from $104.00 to $88.00 and set a “neutral” rating for the company in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $92.13.

Lennar Price Performance

Shares of LEN opened at $83.07 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.19. Lennar Corporation has a twelve month low of $79.82 and a twelve month high of $144.24. The stock has a market capitalization of $20.01 billion, a P/E ratio of 13.00, a P/E/G ratio of 2.79 and a beta of 1.39. The company has a 50 day moving average of $86.20 and a 200-day moving average of $91.63.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The business had revenue of $7.94 billion for the quarter, compared to analyst estimates of $8.08 billion. During the same quarter in the previous year, the firm posted $1.81 earnings per share. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities research analysts forecast that Lennar Corporation will post 5.52 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 10th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, July 10th. Lennar’s dividend payout ratio is presently 31.30%.

Lennar Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.