Illinois Municipal Retirement Fund Sells 22,909 Shares of Lennar Corporation $LEN

Illinois Municipal Retirement Fund reduced its stake in shares of Lennar Corporation (NYSE:LEN) by 28.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,901 shares of the construction company’s stock after selling 22,909 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Lennar were worth $6,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of LEN. Texas Capital Bank Wealth Management Services Inc increased its holdings in Lennar by 77.7% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 3,649 shares of the construction company’s stock valued at $419,000 after acquiring an additional 1,596 shares during the last quarter. Brown Advisory Inc. grew its position in shares of Lennar by 5.4% during the first quarter. Brown Advisory Inc. now owns 6,965 shares of the construction company’s stock valued at $799,000 after purchasing an additional 354 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Lennar by 199.9% in the first quarter. Steward Partners Investment Advisory LLC now owns 31,187 shares of the construction company’s stock worth $3,580,000 after purchasing an additional 20,787 shares during the last quarter. Allstate Corp lifted its position in shares of Lennar by 62.4% in the first quarter. Allstate Corp now owns 11,711 shares of the construction company’s stock worth $1,344,000 after buying an additional 4,500 shares in the last quarter. Finally, Circle Wealth Management LLC bought a new position in Lennar during the first quarter valued at approximately $462,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Trading Up 1.7%

Shares of LEN opened at $125.33 on Wednesday. The company’s fifty day simple moving average is $127.31 and its 200-day simple moving average is $119.05. The company has a market cap of $31.96 billion, a P/E ratio of 12.38, a P/E/G ratio of 5.78 and a beta of 1.33. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15. Lennar Corporation has a twelve month low of $98.42 and a twelve month high of $180.12.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.14 by $0.15. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The company had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $9.01 billion. During the same period in the prior year, the firm posted $3.90 EPS. The firm’s revenue was down 6.4% compared to the same quarter last year. As a group, analysts expect that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Friday, October 10th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, October 10th. Lennar’s dividend payout ratio is presently 19.76%.

Analyst Ratings Changes

LEN has been the topic of several recent research reports. Evercore ISI decreased their price objective on Lennar from $118.00 to $114.00 and set an “in-line” rating on the stock in a report on Tuesday, October 7th. UBS Group upped their price target on shares of Lennar from $146.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Wells Fargo & Company lowered their price objective on shares of Lennar from $135.00 to $125.00 and set an “equal weight” rating for the company in a research report on Friday, October 10th. Wall Street Zen upgraded shares of Lennar from a “sell” rating to a “hold” rating in a report on Saturday. Finally, JMP Securities increased their price target on shares of Lennar from $130.00 to $140.00 and gave the company a “market outperform” rating in a report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $121.75.

Lennar 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.