Teacher Retirement System of Texas Invests $3.50 Million in Lennar Co. (LEN)
Teacher Retirement System of Texas purchased a new stake in shares of Lennar Co. (NYSE:LEN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 55,316 shares of the construction company’s stock, valued at approximately $3,498,000.
Several other institutional investors also recently bought and sold shares of LEN. QS Investors LLC lifted its stake in shares of Lennar by 1.0% in the 2nd quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock valued at $135,000 after purchasing an additional 25 shares during the last quarter. First Personal Financial Services acquired a new stake in shares of Lennar in the 4th quarter valued at $140,000. AE Wealth Management LLC acquired a new stake in shares of Lennar in the 4th quarter valued at $228,000. Valeo Financial Advisors LLC acquired a new stake in shares of Lennar in the 3rd quarter valued at $245,000. Finally, Vident Investment Advisory LLC acquired a new stake in shares of Lennar in the 3rd quarter valued at $250,000. Institutional investors and hedge funds own 86.35% of the company’s stock.
Several equities research analysts recently issued reports on LEN shares. UBS Group started coverage on shares of Lennar in a research note on Wednesday, October 25th. They issued a “buy” rating for the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $78.00 price objective on shares of Lennar in a research note on Thursday, January 11th. Royal Bank of Canada set a $82.00 price objective on shares of Lennar and gave the company a “buy” rating in a research note on Friday, January 12th. Zacks Investment Research raised shares of Lennar from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Tuesday, January 16th. Finally, Mizuho raised shares of Lennar from a “neutral” rating to a “buy” rating in a research note on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $67.93.
Lennar (NYSE:LEN) last released its earnings results on Wednesday, January 10th. The construction company reported $1.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.21). The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.59 billion. Lennar had a return on equity of 12.00% and a net margin of 6.41%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.34 EPS. equities analysts expect that Lennar Co. will post 5.29 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, January 26th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend was Thursday, January 25th. Lennar’s dividend payout ratio is 4.68%.
In other news, CFO Bruce E. Gross sold 9,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $72.00, for a total transaction of $648,000.00. Following the completion of the transaction, the chief financial officer now owns 346,043 shares of the company’s stock, valued at $24,915,096. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Bruce E. Gross sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now directly owns 371,043 shares of the company’s stock, valued at approximately $22,262,580. The disclosure for this sale can be found here. Insiders have sold 180,000 shares of company stock valued at $12,392,050 in the last ninety days. 12.18% of the stock is owned by company insiders.
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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