Lennar (NYSE:LEN – Free Report) had its target price hoisted by UBS Group from $150.00 to $159.00 in a research report sent to investors on Monday morning, Marketbeat Ratings reports. They currently have a buy rating on the construction company’s stock.
Several other research firms have also issued reports on LEN. BTIG Research raised their target price on shares of Lennar from $148.00 to $161.00 and gave the stock a buy rating in a report on Monday. Bank of America raised their target price on shares of Lennar from $103.00 to $120.00 in a report on Wednesday, June 14th. Barclays raised their target price on shares of Lennar from $120.00 to $135.00 in a report on Wednesday, May 24th. The Goldman Sachs Group lifted their price objective on shares of Lennar from $141.00 to $142.00 and gave the company a buy rating in a report on Wednesday, August 30th. Finally, Seaport Res Ptn reiterated a buy rating on shares of Lennar in a report on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $130.94.
Lennar Price Performance
LEN stock opened at $117.03 on Monday. Lennar has a 52 week low of $69.90 and a 52 week high of $133.24. The company has a quick ratio of 1.25, a current ratio of 7.09 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $122.48 and a two-hundred day simple moving average of $114.64. The firm has a market capitalization of $33.64 billion, a P/E ratio of 8.68, a price-to-earnings-growth ratio of 1.55 and a beta of 1.48.
Lennar (NYSE:LEN – Get Free Report) last released its quarterly earnings data on Friday, September 15th. The construction company reported $3.91 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $8.49 billion. During the same quarter last year, the business earned $5.18 earnings per share. Lennar’s quarterly revenue was down 2.3% compared to the same quarter last year. Analysts anticipate that Lennar will post 12.65 earnings per share for the current fiscal year.
Lennar Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, July 6th. Lennar’s payout ratio is currently 11.12%.
Insider Buying and Selling
In related news, Director Amy Banse bought 859 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was bought at an average cost of $117.65 per share, for a total transaction of $101,061.35. Following the purchase, the director now directly owns 8,972 shares of the company’s stock, valued at $1,055,555.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lennar news, EVP Jeffrey Joseph Mccall sold 10,000 shares of Lennar stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $126.48, for a total transaction of $1,264,800.00. Following the completion of the sale, the executive vice president now directly owns 141,386 shares in the company, valued at approximately $17,882,501.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amy Banse acquired 859 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were acquired at an average price of $117.65 per share, with a total value of $101,061.35. Following the completion of the purchase, the director now owns 8,972 shares in the company, valued at approximately $1,055,555.80. The disclosure for this purchase can be found here. Insiders purchased 2,634 shares of company stock worth $321,855 in the last three months. Corporate insiders own 9.53% of the company’s stock.
Hedge Funds Weigh In On Lennar
Several large investors have recently made changes to their positions in the company. Portside Wealth Group LLC purchased a new stake in Lennar in the 2nd quarter worth $215,000. Delphi Management Inc. MA purchased a new stake in Lennar in the 2nd quarter worth $1,373,000. Hook Mill Capital Partners LP purchased a new stake in Lennar in the 2nd quarter worth $82,000. Virginia Retirement Systems ET AL purchased a new stake in Lennar in the 2nd quarter worth $37,192,000. Finally, Comerica Bank purchased a new stake in shares of Lennar during the second quarter worth $41,170,000. 79.87% of the stock is currently owned by institutional investors and hedge funds.
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.
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