Traders Sell Lennar (LEN) on Strength Following Weak Earnings

Investors sold shares of Lennar Co. (NYSE:LEN) on strength during trading hours on Thursday following a weaker than expected earnings announcement. $63.96 million flowed into the stock on the tick-up and $105.85 million flowed out of the stock on the tick-down, for a money net flow of $41.89 million out of the stock. Of all stocks tracked, Lennar had the 0th highest net out-flow for the day. Lennar traded up $1.31 for the day and closed at $69.57The construction company reported $1.29 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.21). The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Lennar had a return on equity of 13.30% and a net margin of 7.47%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business posted $1.34 earnings per share.

LEN has been the topic of several research reports. Zacks Investment Research raised shares of Lennar from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Friday, September 15th. Royal Bank of Canada reissued a “buy” rating and set a $64.00 price target on shares of Lennar in a research note on Monday, September 25th. UBS Group initiated coverage on shares of Lennar in a research note on Wednesday, October 25th. They set a “buy” rating on the stock. BTIG Research lifted their price target on shares of Lennar from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 4th. Finally, Bank of America lifted their price target on shares of Lennar from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Lennar currently has an average rating of “Hold” and an average price target of $61.33.

In related news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $64.02, for a total value of $1,280,400.00. Following the sale, the chief operating officer now owns 99,000 shares in the company, valued at $6,337,980. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Bruce E. Gross sold 5,000 shares of Lennar stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now owns 371,043 shares in the company, valued at approximately $22,262,580. The disclosure for this sale can be found here. 12.18% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in LEN. D.A. Davidson & CO. boosted its holdings in Lennar by 8.9% in the second quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock valued at $101,000 after acquiring an additional 155 shares in the last quarter. Commonwealth Bank of Australia boosted its holdings in Lennar by 32.4% in the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock valued at $114,000 after acquiring an additional 530 shares in the last quarter. QS Investors LLC boosted its holdings in Lennar by 1.0% in the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock valued at $135,000 after acquiring an additional 25 shares in the last quarter. Chartist Inc. CA bought a new stake in Lennar in the second quarter valued at $200,000. Finally, Fiera Capital Corp bought a new stake in Lennar in the second quarter valued at $224,000. Institutional investors and hedge funds own 81.25% of the company’s stock.

The stock has a market cap of $16,160.00, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 1.35 and a beta of 1.35. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.59 and a current ratio of 7.76.

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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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