Lennar Co. (NYSE:LEN) was the recipient of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 14,164,190 shares, a decline of 60.7% from the February 15th total of 36,048,557 shares. Based on an average trading volume of 5,311,482 shares, the days-to-cover ratio is presently 2.7 days. Currently, 8.1% of the company’s shares are sold short.
In other Lennar news, General Counsel Mark Sustana sold 125,000 shares of the business’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $69.55, for a total value of $8,693,750.00. Following the transaction, the general counsel now owns 65,720 shares in the company, valued at $4,570,826. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Diane J. Bessette sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $69.50, for a total transaction of $695,000.00. Following the completion of the transaction, the vice president now owns 222,396 shares in the company, valued at approximately $15,456,522. The disclosure for this sale can be found here. Insiders sold 175,000 shares of company stock worth $12,092,050 in the last 90 days. Corporate insiders own 8.50% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Global X Management Co. LLC grew its holdings in Lennar by 15.6% in the fourth quarter. Global X Management Co. LLC now owns 6,474 shares of the construction company’s stock worth $409,000 after purchasing an additional 876 shares during the period. Asset Management One Co. Ltd. grew its holdings in Lennar by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 313,127 shares of the construction company’s stock worth $16,524,000 after purchasing an additional 924 shares during the period. Norinchukin Bank The grew its holdings in Lennar by 7.3% in the third quarter. Norinchukin Bank The now owns 15,124 shares of the construction company’s stock worth $799,000 after purchasing an additional 1,023 shares during the period. Comerica Bank grew its holdings in Lennar by 2.2% in the third quarter. Comerica Bank now owns 50,676 shares of the construction company’s stock worth $2,822,000 after purchasing an additional 1,099 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Lennar by 5.3% in the third quarter. CIBC Asset Management Inc now owns 22,136 shares of the construction company’s stock worth $1,169,000 after purchasing an additional 1,117 shares during the period. Institutional investors and hedge funds own 88.76% of the company’s stock.
Shares of Lennar (NYSE LEN) opened at $58.89 on Friday. The firm has a market cap of $14,531.92, a PE ratio of 17.22, a price-to-earnings-growth ratio of 0.62 and a beta of 1.31. The company has a quick ratio of 1.67, a current ratio of 8.42 and a debt-to-equity ratio of 0.80. Lennar has a fifty-two week low of $49.34 and a fifty-two week high of $72.17.
Lennar (NYSE:LEN) last announced its quarterly earnings data 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). The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Lennar had a return on equity of 12.00% and a net margin of 6.41%. Lennar’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.34 EPS. equities analysts expect that Lennar will post 5.29 EPS for the current year.
A number of research firms have issued reports on LEN. Zacks Investment Research upgraded shares of Lennar from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Tuesday. ValuEngine cut shares of Lennar from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th. Wedbush set a $60.00 price target on shares of Lennar and gave the company a “hold” rating in a research report on Thursday, January 4th. Credit Suisse Group reiterated a “neutral” rating and set a $65.00 price target (up previously from $57.00) on shares of Lennar in a research report on Thursday, January 11th. Finally, Evercore ISI upgraded shares of Lennar from an “in-line” rating to an “outperform” rating in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Lennar has a consensus rating of “Buy” and a consensus target price of $67.93.
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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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