LEN has been the topic of several other research reports. UBS AG started coverage on Lennar Corporation in a research report on Wednesday, October 25th. They issued a buy rating on the stock. Royal Bank Of Canada boosted their price objective on Lennar Corporation from $61.00 to $64.00 and gave the stock an outperform rating in a research report on Thursday, July 13th. BidaskClub raised Lennar Corporation from a sell rating to a hold rating in a research report on Saturday, August 12th. Zacks Investment Research raised Lennar Corporation from a hold rating to a buy rating and set a $57.00 price objective on the stock in a research report on Friday, September 15th. Finally, MKM Partners raised Lennar Corporation from a neutral rating to a buy rating and set a $64.00 price target on the stock in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of C$57.93.
Shares of Lennar Corporation (NYSE LEN) traded down C$0.22 during trading on Friday, reaching C$58.71. The company had a trading volume of 5,263,700 shares, compared to its average volume of 2,365,712. The company has a debt-to-equity ratio of 0.72, a current ratio of 7.76 and a quick ratio of 0.59. Lennar Corporation has a 1-year low of C$40.94 and a 1-year high of C$59.32. The company has a market capitalization of $13,730.00, a P/E ratio of 15.05, a P/E/G ratio of 1.42 and a beta of 1.30.
Lennar Corporation (NYSE:LEN) last posted its quarterly earnings data on Tuesday, October 3rd. The company reported C$1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$1.01 by C$0.05. Lennar Corporation had a return on equity of 12.37% and a net margin of 6.65%. The business had revenue of C$3.26 billion for the quarter, compared to analysts’ expectations of C$3.25 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis. sell-side analysts anticipate that Lennar Corporation will post 4.05 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 2nd. Investors of record on Thursday, October 19th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, October 18th. This represents a $0.16 dividend on an annualized basis and a yield of 0.27%. Lennar Corporation’s dividend payout ratio (DPR) is 4.61%.
In related news, CFO Bruce E. Gross sold 5,000 shares of the stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of C$56.48, for a total transaction of C$282,400.00. Following the sale, the chief financial officer now owns 376,043 shares of the company’s stock, valued at approximately C$21,238,908.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.18% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Alps Advisors Inc. increased its stake in Lennar Corporation by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 9,280 shares of the company’s stock worth $495,000 after acquiring an additional 24 shares during the last quarter. QS Investors LLC increased its stake in Lennar Corporation by 1.0% in the 2nd quarter. QS Investors LLC now owns 2,541 shares of the company’s stock worth $135,000 after acquiring an additional 25 shares during the last quarter. Fisher Asset Management LLC increased its stake in Lennar Corporation by 0.7% in the 2nd quarter. Fisher Asset Management LLC now owns 4,052 shares of the company’s stock worth $216,000 after acquiring an additional 27 shares during the last quarter. Riverhead Capital Management LLC increased its stake in Lennar Corporation by 0.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,326 shares of the company’s stock worth $444,000 after acquiring an additional 36 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Lennar Corporation by 0.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,157 shares of the company’s stock worth $328,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds own 79.83% of the company’s stock.
About Lennar Corporation
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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