LEN has been the subject of a number of other research reports. RBC Capital Markets reaffirmed a buy rating and set a $55.00 price target (down previously from $64.00) on shares of Lennar Corp. in a research report on Wednesday, September 21st. Argus initiated coverage on Lennar Corp. in a research report on Tuesday, July 5th. They set a buy rating and a $59.00 price target for the company. Credit Suisse Group AG reiterated a hold rating on shares of Lennar Corp. in a research note on Tuesday, June 28th. Bank of America Corp. set a $52.00 price objective on Lennar Corp. and gave the company a buy rating in a research note on Tuesday, September 20th. Finally, MKM Partners set a $52.00 price objective on Lennar Corp. and gave the company a hold rating in a research note on Wednesday, September 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $53.64.
Lennar Corp. (NYSE:LEN) traded up 0.62% during trading on Monday, hitting $41.87. The stock had a trading volume of 365,953 shares. The firm’s 50-day moving average price is $43.88 and its 200-day moving average price is $45.89. The company has a market cap of $9.54 billion, a price-to-earnings ratio of 11.02 and a beta of 1.41. Lennar Corp. has a 52-week low of $37.14 and a 52-week high of $52.50.
Lennar Corp. (NYSE:LEN) last issued its quarterly earnings results on Tuesday, September 20th. The company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.12. Lennar Corp. had a return on equity of 13.98% and a net margin of 8.37%. The company earned $2.83 billion during the quarter. During the same period in the prior year, the firm posted $0.96 EPS. The business’s revenue was up 13.7% compared to the same quarter last year. Analysts predict that Lennar Corp. will post $3.82 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Wednesday, October 5th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Monday, October 3rd. Lennar Corp.’s dividend payout ratio is presently 4.21%.
In related news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $42.01, for a total value of $840,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 12.18% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LEN. Emerald Acquisition Ltd. acquired a new position in Lennar Corp. during the second quarter worth approximately $112,193,000. Hexavest Inc. acquired a new position in Lennar Corp. during the third quarter worth approximately $79,257,000. Third Avenue Management LLC acquired a new position in Lennar Corp. during the first quarter worth approximately $54,308,000. Marketfield Asset Management LLC acquired a new position in Lennar Corp. during the second quarter worth approximately $17,945,000. Finally, Lord Abbett & CO. LLC boosted its position in Lennar Corp. by 15.0% in the second quarter. Lord Abbett & CO. LLC now owns 2,835,787 shares of the company’s stock worth $130,730,000 after buying an additional 368,924 shares in the last quarter. Hedge funds and other institutional investors own 86.38% of the company’s stock.
About Lennar Corp.
Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily.
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