Lennar Corporation (LEN) Coverage Initiated by Analysts at UBS AG

Equities research analysts at UBS AG began coverage on shares of Lennar Corporation (NYSE:LEN) in a research report issued to clients and investors on Wednesday, October 25th, 99wallstreet.com reports. The firm set a “buy” rating on the stock.

A number of other research firms have also weighed in on LEN. MKM Partners raised shares of Lennar Corporation from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Wednesday, October 4th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $59.00 price objective (up previously from $57.00) on shares of Lennar Corporation in a research report on Wednesday, October 4th. Bank of America Corporation lifted their target price on shares of Lennar Corporation from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 4th. BTIG Research lifted their target price on shares of Lennar Corporation from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 4th. Finally, Mizuho reaffirmed a “buy” rating on shares of Lennar Corporation in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of C$57.93.

Lennar Corporation (LEN) opened at C$58.71 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 7.76 and a quick ratio of 0.59. Lennar Corporation has a 12-month low of C$40.94 and a 12-month high of C$59.32. The stock has a market cap of $13,812.11, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 1.42 and a beta of 1.31.

Lennar Corporation (NYSE:LEN) last posted its quarterly earnings results on Tuesday, October 3rd. The company reported C$1.06 EPS for the quarter, topping analysts’ consensus estimates of C$1.01 by C$0.05. Lennar Corporation had a net margin of 6.65% and a return on equity of 12.37%. The business had revenue of C$3.26 billion during the quarter, compared to analysts’ expectations of C$3.25 billion. During the same period last year, the company posted $1.01 earnings per share. The business’s quarterly revenue was up 15.1% on a year-over-year basis. equities research analysts predict that Lennar Corporation will post 4.05 earnings per share for the current year.

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In related news, CFO Bruce E. Gross sold 5,000 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of C$56.48, for a total transaction of C$282,400.00. Following the sale, the chief financial officer now directly owns 376,043 shares of the company’s stock, valued at approximately C$21,238,908.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.18% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Fishman Jay A Ltd. MI purchased a new stake in Lennar Corporation during the 3rd quarter valued at about $1,771,000. Great Lakes Advisors LLC bought a new position in Lennar Corporation during the 2nd quarter valued at about $1,896,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Lennar Corporation by 2.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 658,941 shares of the company’s stock valued at $35,135,000 after acquiring an additional 16,959 shares during the period. Daiwa Securities Group Inc. lifted its stake in Lennar Corporation by 9.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,200 shares of the company’s stock valued at $331,000 after acquiring an additional 550 shares during the period. Finally, Greenwood Capital Associates LLC lifted its stake in Lennar Corporation by 7.6% during the 2nd quarter. Greenwood Capital Associates LLC now owns 5,845 shares of the company’s stock valued at $312,000 after acquiring an additional 415 shares during the period. 80.11% of the stock is currently owned by institutional investors.

Lennar Corporation 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.

Analyst Recommendations for Lennar Corporation (NYSE:LEN)

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