Illinois Municipal Retirement Fund Purchases 13,625 Shares of Lennar Corporation (NYSE:LEN)

Illinois Municipal Retirement Fund lifted its position in Lennar Corporation (NYSE:LEN) by 20.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,810 shares of the construction company’s stock after purchasing an additional 13,625 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Lennar were worth $9,390,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Hurley Capital LLC bought a new position in shares of Lennar in the fourth quarter worth $26,000. SBI Securities Co. Ltd. bought a new position in Lennar in the fourth quarter valued at $28,000. Ameriflex Group Inc. bought a new position in Lennar in the fourth quarter valued at $30,000. Opal Wealth Advisors LLC bought a new position in Lennar in the first quarter valued at $30,000. Finally, NBC Securities Inc. bought a new position in Lennar in the first quarter valued at $33,000. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

Lennar stock opened at $110.34 on Friday. The company has a current ratio of 3.65, a quick ratio of 0.49 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average of $108.37 and a 200-day moving average of $119.75. The firm has a market cap of $29.11 billion, a P/E ratio of 9.13, a P/E/G ratio of 4.41 and a beta of 1.33. Lennar Corporation has a 1-year low of $98.42 and a 1-year high of $187.61.

Lennar (NYSE:LEN) last posted its earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.04). The firm had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.21 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.45 earnings per share. Sell-side analysts expect that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.81%. Lennar’s dividend payout ratio is currently 16.54%.

Wall Street Analyst Weigh In

A number of research firms recently commented on LEN. Evercore ISI reduced their target price on Lennar from $131.00 to $114.00 and set an “in-line” rating on the stock in a research note on Wednesday, June 18th. Wedbush reissued a “neutral” rating and issued a $130.00 target price on shares of Lennar in a research note on Wednesday, June 18th. Bank of America reduced their target price on Lennar from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 18th. Barclays reduced their target price on Lennar from $110.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 18th. Finally, Seaport Res Ptn raised Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $128.85.

Lennar Company 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.