Lennar Co. (LEN) CFO Sells $72,000.00 in Stock
Lennar Co. (NYSE:LEN) CFO Bruce E. Gross sold 1,000 shares of the stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $72.00, for a total value of $72,000.00. Following the completion of the sale, the chief financial officer now owns 356,043 shares of the company’s stock, valued at approximately $25,635,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Lennar Co. (LEN) traded up $1.28 during midday trading on Friday, hitting $71.82. 3,647,437 shares of the stock were exchanged, compared to its average volume of 3,589,748. Lennar Co. has a 1-year low of $42.75 and a 1-year high of $72.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 7.76 and a quick ratio of 0.59. The firm has a market capitalization of $16,595.24, a P/E ratio of 21.00, a PEG ratio of 1.03 and a beta of 1.35.
Lennar (NYSE:LEN) last posted its quarterly earnings results on Wednesday, January 10th. The construction company reported $1.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.21). Lennar had a return on equity of 12.22% and a net margin of 6.41%. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period last year, the company posted $1.34 earnings per share. The company’s revenue was up 12.1% compared to the same quarter last year. analysts anticipate that Lennar Co. will post 5.28 EPS for the current fiscal year.
A number of research firms have recently issued reports on LEN. Mizuho upgraded Lennar from a “neutral” rating to a “buy” rating in a report on Thursday. Royal Bank of Canada set a $82.00 target price on Lennar and gave the company a “buy” rating in a report on Friday, January 12th. Zacks Investment Research lowered Lennar from a “buy” rating to a “hold” rating in a report on Monday, January 15th. UBS Group restated a “buy” rating on shares of Lennar in a report on Wednesday. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $78.00 target price on shares of Lennar in a report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $63.93.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Fishman Jay A Ltd. MI acquired a new position in shares of Lennar in the third quarter worth $1,771,000. Rational Advisors LLC acquired a new position in shares of Lennar in the third quarter worth $1,438,000. Bank of Nova Scotia increased its position in Lennar by 71.8% during the second quarter. Bank of Nova Scotia now owns 79,890 shares of the construction company’s stock worth $4,260,000 after buying an additional 33,388 shares during the last quarter. Parkwood LLC acquired a new position in Lennar during the third quarter worth $3,969,000. Finally, Toronto Dominion Bank increased its position in Lennar by 25.5% during the second quarter. Toronto Dominion Bank now owns 68,832 shares of the construction company’s stock worth $3,669,000 after buying an additional 13,992 shares during the last quarter. 81.25% of the stock is currently owned by institutional investors and hedge funds.
Lennar Company Profile
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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