Lennar (NYSE:LEN – Free Report) had its price target increased by Royal Bank of Canada from $113.00 to $114.00 in a research report report published on Monday, Marketbeat.com reports. Royal Bank of Canada currently has an underperform rating on the construction company’s stock.
Other equities analysts also recently issued reports about the stock. Citigroup decreased their price target on shares of Lennar from $148.00 to $139.00 and set a buy rating for the company in a research note on Monday, September 11th. Barclays increased their price target on shares of Lennar from $120.00 to $135.00 in a research note on Wednesday, May 24th. Seaport Res Ptn restated a buy rating on shares of Lennar in a report on Wednesday, June 14th. UBS Group upped their price objective on shares of Lennar from $127.00 to $150.00 in a report on Friday, June 16th. Finally, BTIG Research upped their price objective on shares of Lennar from $148.00 to $161.00 and gave the stock a buy rating in a report on Monday. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $130.94.
Check Out Our Latest Stock Analysis on Lennar
Lennar Stock Performance
Shares of LEN opened at $117.03 on Monday. The company has a market cap of $33.64 billion, a PE ratio of 8.68, a P/E/G ratio of 1.55 and a beta of 1.48. The company has a debt-to-equity ratio of 0.15, a current ratio of 7.09 and a quick ratio of 1.25. Lennar has a one year low of $69.90 and a one year high of $133.24. The stock has a 50-day moving average of $122.48 and a 200-day moving average of $114.64.
Lennar (NYSE:LEN – Get Free Report) last issued its earnings results on Friday, September 15th. The construction company reported $3.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.39. Lennar had a net margin of 11.66% and a return on equity of 16.41%. The business had revenue of $8.73 billion for the quarter, compared to analysts’ expectations of $8.49 billion. During the same quarter in the previous year, the firm posted $5.18 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities research analysts predict that Lennar will post 12.65 EPS for the current fiscal year.
Lennar Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Friday, July 7th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.50 annualized dividend and a yield of 1.28%. Lennar’s payout ratio is 11.12%.
Insider Activity at Lennar
In other Lennar news, CFO Diane J. Bessette sold 10,790 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $121.46, for a total value of $1,310,553.40. Following the transaction, the chief financial officer now directly owns 270,556 shares in the company, valued at approximately $32,861,731.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Lennar news, CFO Diane J. Bessette sold 10,790 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $121.46, for a total value of $1,310,553.40. Following the transaction, the chief financial officer now directly owns 270,556 shares in the company, valued at approximately $32,861,731.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy Banse bought 859 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was bought at an average price of $117.65 per share, for a total transaction of $101,061.35. Following the completion of the purchase, the director now directly owns 8,972 shares in the company, valued at $1,055,555.80. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 2,634 shares of company stock worth $321,855. Insiders own 9.53% of the company’s stock.
Institutional Trading of Lennar
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Trust N.A. increased its position in shares of Lennar by 2.3% during the second quarter. Raymond James Trust N.A. now owns 4,144 shares of the construction company’s stock valued at $520,000 after acquiring an additional 93 shares during the last quarter. Harvest Fund Management Co. Ltd grew its holdings in Lennar by 10.6% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 1,016 shares of the construction company’s stock worth $127,000 after acquiring an additional 97 shares in the last quarter. Ballentine Partners LLC lifted its position in shares of Lennar by 4.4% during the 2nd quarter. Ballentine Partners LLC now owns 2,312 shares of the construction company’s stock worth $290,000 after buying an additional 98 shares during the last quarter. Merit Financial Group LLC lifted its position in shares of Lennar by 3.0% during the 1st quarter. Merit Financial Group LLC now owns 3,851 shares of the construction company’s stock worth $405,000 after buying an additional 112 shares during the last quarter. Finally, Cypress Capital Group lifted its position in shares of Lennar by 1.3% during the 2nd quarter. Cypress Capital Group now owns 8,682 shares of the construction company’s stock worth $1,088,000 after buying an additional 112 shares during the last quarter. Institutional investors and hedge funds own 79.87% of the company’s stock.
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.
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