Traders Buy Shares of Lennar (LEN) on Weakness
Traders purchased shares of Lennar Co. (NYSE:LEN) on weakness during trading hours on Wednesday. $42.01 million flowed into the stock on the tick-up and $16.60 million flowed out of the stock on the tick-down, for a money net flow of $25.41 million into the stock. Of all companies tracked, Lennar had the 15th highest net in-flow for the day. Lennar traded down ($0.49) for the day and closed at $48.07
Several equities analysts have recently commented on LEN shares. Citigroup lowered their target price on Lennar from $62.00 to $55.00 and set a “buy” rating for the company in a report on Friday, January 4th. Buckingham Research started coverage on Lennar in a report on Friday, January 11th. They set a “buy” rating for the company. They noted that the move was a valuation call. Royal Bank of Canada set a $53.00 target price on Lennar and gave the company a “buy” rating in a report on Thursday, January 10th. Barclays set a $52.00 target price on Lennar and gave the company a “buy” rating in a report on Thursday, January 10th. Finally, Bank of America lowered their target price on Lennar from $60.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, January 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $57.29.
The firm has a market capitalization of $15.67 billion, a PE ratio of 7.61, a P/E/G ratio of 0.58 and a beta of 1.32. The company has a debt-to-equity ratio of 0.58, a current ratio of 11.48 and a quick ratio of 1.12.
In other Lennar news, COO Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $40.03, for a total transaction of $800,600.00. Following the completion of the transaction, the chief operating officer now directly owns 171,014 shares of the company’s stock, valued at approximately $6,845,690.42. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.43% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. MUFG Securities EMEA plc boosted its stake in Lennar by 7,486.3% during the 4th quarter. MUFG Securities EMEA plc now owns 600,000 shares of the construction company’s stock valued at $23,490,000 after purchasing an additional 592,091 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new position in Lennar during the 4th quarter valued at $1,109,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Lennar during the 4th quarter valued at $227,000. Valley National Advisers Inc. bought a new position in Lennar during the 4th quarter valued at $49,000. Finally, CWM Advisors LLC boosted its stake in Lennar by 18.3% during the 4th quarter. CWM Advisors LLC now owns 11,387 shares of the construction company’s stock valued at $446,000 after purchasing an additional 1,762 shares in the last quarter. 84.53% of the stock is owned by hedge funds and other institutional investors.
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About Lennar (NYSE:LEN)
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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.
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