Shares of Lennar Co. (NYSE:LEN – Get Free Report) gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $174.09, but opened at $161.75. Lennar shares last traded at $163.46, with a volume of 522,880 shares trading hands.
Specifically, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the transaction, the director now owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Analyst Upgrades and Downgrades
Several research firms have recently commented on LEN. Keefe, Bruyette & Woods increased their price target on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Evercore ISI dropped their price objective on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. Barclays boosted their target price on shares of Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. JMP Securities increased their target price on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company lowered shares of Lennar from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $205.00 to $190.00 in a research report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $181.11.
Lennar Price Performance
The firm has a 50 day simple moving average of $181.82 and a 200-day simple moving average of $167.43. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The company has a market cap of $46.55 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.62 and a beta of 1.61.
Lennar (NYSE:LEN – Get Free Report) last issued its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same quarter in the previous year, the firm earned $3.91 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. As a group, research analysts predict that Lennar Co. will post 14.18 earnings per share for the current fiscal year.
Lennar Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s payout ratio is presently 13.60%.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the stock. Oakworth Capital Inc. purchased a new stake in shares of Lennar during the third quarter worth approximately $27,000. Wolff Wiese Magana LLC grew its holdings in shares of Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after purchasing an additional 140 shares during the period. J.Safra Asset Management Corp purchased a new position in shares of Lennar during the 1st quarter worth $30,000. GHP Investment Advisors Inc. acquired a new position in Lennar during the 3rd quarter worth about $30,000. Finally, New Covenant Trust Company N.A. acquired a new position in Lennar during the 1st quarter worth about $32,000. 81.10% of the stock is 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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