Lennar Corp. (LEN) Upgraded to “Buy” at Buckingham Research
Other research analysts also recently issued research reports about the company. Citigroup Inc. cut their target price on Lennar Corp. from $50.00 to $48.00 and set a neutral rating for the company in a research note on Wednesday, September 21st. Raymond James Financial Inc. raised Lennar Corp. from a market perform rating to an outperform rating in a report on Monday, June 27th. Royal Bank Of Canada lowered their price target on Lennar Corp. from $64.00 to $55.00 and set an outperform rating on the stock in a report on Wednesday, September 21st. FBR & Co reaffirmed an outperform rating and issued a $60.00 price target on shares of Lennar Corp. in a report on Wednesday, June 22nd. Finally, Zacks Investment Research cut Lennar Corp. from a hold rating to a sell rating in a report on Thursday, September 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Lennar Corp. has an average rating of Buy and an average target price of $53.64.
Shares of Lennar Corp. (NYSE:LEN) traded up 0.62% during mid-day trading on Monday, reaching $41.87. The company had a trading volume of 365,953 shares. Lennar Corp. has a 12-month low of $37.14 and a 12-month high of $52.50. The firm has a market capitalization of $9.54 billion, a PE ratio of 11.02 and a beta of 1.41. The stock has a 50 day moving average price of $43.88 and a 200 day moving average price of $45.89.
Lennar Corp. (NYSE:LEN) last issued its earnings results on Tuesday, September 20th. The company reported $1.01 EPS for the quarter, topping the 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 business earned $2.83 billion during the quarter. During the same quarter in the prior year, the business earned $0.96 EPS. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, equities analysts forecast that Lennar Corp. will post $3.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Wednesday, October 5th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Monday, October 3rd. Lennar Corp.’s dividend payout ratio is presently 4.21%.
In other Lennar Corp. news, COO Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $42.01, for a total transaction of $840,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.18% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Cleararc Capital Inc. raised its position in Lennar Corp. by 1.9% in the second quarter. Cleararc Capital Inc. now owns 4,465 shares of the company’s stock worth $206,000 after buying an additional 83 shares during the period. Gateway Investment Advisers LLC raised its position in Lennar Corp. by 0.8% in the second quarter. Gateway Investment Advisers LLC now owns 12,620 shares of the company’s stock worth $582,000 after buying an additional 97 shares during the period. Northwestern Mutual Investment Management Company LLC raised its position in Lennar Corp. by 1.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,996 shares of the company’s stock worth $323,000 after buying an additional 120 shares during the period. Pitcairn Co. raised its position in Lennar Corp. by 1.7% in the second quarter. Pitcairn Co. now owns 7,530 shares of the company’s stock worth $347,000 after buying an additional 125 shares during the period. Finally, LS Investment Advisors LLC raised its position in Lennar Corp. by 2.9% in the second quarter. LS Investment Advisors LLC now owns 7,648 shares of the company’s stock worth $353,000 after buying an additional 217 shares during the period. 86.38% of the stock is owned by hedge funds and other institutional investors.
Lennar Corp. Company Profile
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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