Lennar (NYSE:LEN) was upgraded by stock analysts at Mizuho from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday.
A number of other equities research analysts also recently weighed in on LEN. Zacks Investment Research raised shares of Lennar from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Tuesday. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $78.00 target price on shares of Lennar in a research note on Thursday, January 11th. UBS Group reissued a “buy” rating on shares of Lennar in a research note on Wednesday. Wedbush set a $60.00 price target on shares of Lennar and gave the stock a “hold” rating in a research note on Thursday, January 4th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $65.00 price target (up from $57.00) on shares of Lennar in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $63.93.
Shares of Lennar (NYSE:LEN) traded up $1.28 on Thursday, reaching $71.82. 3,647,437 shares of the company were exchanged, compared to its average volume of 3,589,748. The stock has a market capitalization of $16,595.24, a P/E ratio of 21.00, a P/E/G ratio of 1.03 and a beta of 1.35. 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 has a 1-year low of $42.75 and a 1-year high of $72.07.
Lennar (NYSE:LEN) last announced its earnings results on Wednesday, January 10th. The construction company reported $1.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.21). The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Lennar had a net margin of 6.41% and a return on equity of 12.22%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.34 earnings per share. research analysts anticipate that Lennar will post 5.28 EPS for the current year.
In other news, COO Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 99,000 shares in the company, valued at $6,337,980. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David M. Collins sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $71.15, for a total transaction of $355,750.00. Following the completion of the transaction, the insider now owns 118,361 shares in the company, valued at approximately $8,421,385.15. The disclosure for this sale can be found here. Insiders have sold 171,000 shares of company stock worth $11,744,050 over the last three months. Insiders own 12.18% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. QS Investors LLC grew its holdings in shares of Lennar by 1.0% in the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after purchasing an additional 25 shares during the last quarter. Riverhead Capital Management LLC grew its holdings in shares of Lennar by 0.4% in the second quarter. Riverhead Capital Management LLC now owns 8,326 shares of the construction company’s stock worth $444,000 after purchasing an additional 36 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of Lennar by 8.9% in the second quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock worth $101,000 after purchasing an additional 155 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of Lennar by 3.7% in the second quarter. Macquarie Group Ltd. now owns 5,590 shares of the construction company’s stock worth $298,000 after purchasing an additional 200 shares during the last quarter. Finally, AXA grew its holdings in shares of Lennar by 4.3% in the second quarter. AXA now owns 7,300 shares of the construction company’s stock worth $390,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 81.25% of the company’s stock.
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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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