UBS Group restated their buy rating on shares of Lennar (NYSE:LEN) in a research report released on Wednesday, January 17th, 99wallstreet.com reports.
Several other equities analysts also recently commented on LEN. Wedbush set a $60.00 target price on shares of Lennar and gave the stock a hold rating in a report on Thursday, January 4th. Royal Bank of Canada restated a buy rating and issued a $64.00 price target on shares of Lennar in a research report on Monday, September 25th. Credit Suisse Group restated a neutral rating and issued a $65.00 price target (up previously from $57.00) on shares of Lennar in a research report on Thursday, January 11th. Bank of America boosted their price objective on shares of Lennar from $63.00 to $65.00 and gave the company a buy rating in a research report on Wednesday, October 4th. Finally, KeyCorp reiterated a hold rating on shares of Lennar in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen 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 a consensus target price of $66.07.
Lennar (LEN) traded down $0.39 on Wednesday, hitting $58.69. 7,760,000 shares of the company were exchanged, compared to its average volume of 4,741,963. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.67 and a current ratio of 8.42. Lennar has a one year low of $43.92 and a one year high of $72.17. The stock has a market capitalization of $13,807.41, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 0.62 and a beta of 1.26.
Lennar (NYSE:LEN) last issued its quarterly earnings results on Wednesday, January 10th. The construction company reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.21). Lennar had a net margin of 6.41% and a return on equity of 12.00%. The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the prior year, the firm earned $1.34 EPS. Lennar’s revenue for the quarter was up 12.1% compared to the same quarter last year. research analysts predict that Lennar will post 5.21 EPS for the current fiscal year.
The company also recently declared 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 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Thursday, January 25th. Lennar’s payout ratio is 4.68%.
In other Lennar news, General Counsel Mark Sustana sold 125,000 shares of the stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $69.55, for a total transaction of $8,693,750.00. Following the completion of the sale, the general counsel now directly owns 65,720 shares of the company’s stock, valued at $4,570,826. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 owns 371,043 shares in the company, valued at approximately $22,262,580. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,000 shares of company stock valued at $12,392,050. Insiders own 12.18% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Bank of Australia increased its holdings in Lennar by 32.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after buying an additional 530 shares during the period. AXA increased its holdings in Lennar by 4.3% in the 2nd quarter. AXA now owns 7,300 shares of the construction company’s stock worth $390,000 after buying an additional 300 shares during the period. Riverhead Capital Management LLC increased its holdings in Lennar by 0.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,326 shares of the construction company’s stock worth $444,000 after buying an additional 36 shares during the period. Fiera Capital Corp acquired a new position in Lennar in the 2nd quarter worth approximately $224,000. Finally, Ameriprise Financial Inc. increased its holdings in Lennar by 4.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 583,183 shares of the construction company’s stock worth $30,088,000 after buying an additional 24,299 shares during the period. Hedge funds and other institutional investors own 80.79% of the company’s stock.
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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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