Lennar Co. (NYSE:LEN – Free Report) – Analysts at Seaport Res Ptn raised their Q4 2023 earnings estimates for Lennar in a note issued to investors on Sunday, September 17th. Seaport Res Ptn analyst K. Zener now forecasts that the construction company will earn $4.65 per share for the quarter, up from their prior forecast of $4.26. Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for Lennar’s current full-year earnings is $12.56 per share.
Several other analysts have also commented on LEN. StockNews.com began coverage on shares of Lennar in a research report on Thursday, August 17th. They set a “hold” rating for the company. JMP Securities increased their price target on shares of Lennar from $115.00 to $135.00 in a research report on Friday, June 16th. Bank of America increased their price target on shares of Lennar from $103.00 to $120.00 in a research report on Wednesday, June 14th. Evercore ISI increased their price objective on shares of Lennar from $161.00 to $164.00 in a research report on Monday. Finally, Raymond James raised shares of Lennar from a “market perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $130.94.
Lennar Stock Performance
LEN stock opened at $117.03 on Tuesday. The firm has a market cap of $33.64 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 1.52 and a beta of 1.48. The firm has a 50-day simple moving average of $122.48 and a two-hundred day simple moving average of $114.64. Lennar has a one year low of $69.90 and a one year high of $133.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.25 and a current ratio of 7.09.
Lennar (NYSE:LEN – Get Free Report) last released its quarterly earnings data on Friday, September 15th. The construction company reported $3.91 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $0.39. The company had revenue of $8.73 billion during the quarter, compared to analyst estimates of $8.49 billion. Lennar had a net margin of 11.66% and a return on equity of 16.41%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.18 earnings per share.
Institutional Investors Weigh In On Lennar
A number of institutional investors have recently added to or reduced their stakes in LEN. First Trust Advisors LP grew its stake in Lennar by 551.1% in the 1st quarter. First Trust Advisors LP now owns 1,824,684 shares of the construction company’s stock valued at $191,793,000 after acquiring an additional 1,544,432 shares during the period. Pacer Advisors Inc. grew its stake in Lennar by 111.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,467,501 shares of the construction company’s stock valued at $259,359,000 after acquiring an additional 1,300,163 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its stake in Lennar by 75,322.0% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 935,987 shares of the construction company’s stock valued at $117,288,000 after acquiring an additional 934,746 shares during the period. Alyeska Investment Group L.P. purchased a new position in Lennar in the 1st quarter valued at $61,173,000. Finally, Duquesne Family Office LLC purchased a new position in Lennar in the 4th quarter valued at $39,991,000. Institutional investors and hedge funds own 79.87% of the company’s stock.
Insider Buying and Selling
In other news, CFO Diane J. Bessette sold 10,790 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $121.46, for a total transaction of $1,310,553.40. Following the sale, the chief financial officer now owns 270,556 shares of the company’s stock, valued at approximately $32,861,731.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Amy Banse acquired 790 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were acquired at an average price of $126.42 per share, with a total value of $99,871.80. Following the purchase, the director now directly owns 7,293 shares of the company’s stock, valued at $921,981.06. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Diane J. Bessette sold 10,790 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $121.46, for a total transaction of $1,310,553.40. Following the sale, the chief financial officer now directly owns 270,556 shares in the company, valued at approximately $32,861,731.76. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 2,634 shares of company stock worth $321,855. 9.53% of the stock is owned by company insiders.
Lennar Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Friday, July 7th were issued a $0.375 dividend. 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 dividend payout ratio (DPR) is presently 11.12%.
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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