Lennar Co. (LEN) Short Interest Down 60.7% in February

Lennar Co. (NYSE:LEN) was the target 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 daily trading volume, of 5,311,482 shares, the short-interest ratio is presently 2.7 days. Currently, 8.1% of the shares of the stock are short sold.

In related news, CFO Bruce E. Gross sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $72.00, for a total value of $72,000.00. Following the completion of the sale, the chief financial officer now directly owns 356,043 shares in the company, valued at $25,635,096. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Bruce E. Gross sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $69.43, for a total value of $347,150.00. Following the completion of the sale, the chief financial officer now owns 361,043 shares of the company’s stock, valued at $25,067,215.49. The disclosure for this sale can be found here. Over the last quarter, insiders sold 155,000 shares of company stock valued at $10,811,650. 8.50% of the stock is currently owned by corporate insiders.

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Several large investors have recently made changes to their positions in the company. Comerica Bank increased its holdings in Lennar by 3.1% in the fourth quarter. Comerica Bank now owns 52,232 shares of the construction company’s stock valued at $3,701,000 after purchasing an additional 1,556 shares during the period. Toronto Dominion Bank increased its holdings in Lennar by 14.2% in the fourth quarter. Toronto Dominion Bank now owns 88,013 shares of the construction company’s stock valued at $5,566,000 after purchasing an additional 10,940 shares during the period. Private Asset Management Inc. acquired a new stake in Lennar in the fourth quarter valued at $316,000. First Trust Advisors LP increased its holdings in Lennar by 16.1% in the fourth quarter. First Trust Advisors LP now owns 306,342 shares of the construction company’s stock valued at $19,373,000 after purchasing an additional 42,562 shares during the period. Finally, Amalgamated Bank increased its holdings in Lennar by 9.8% in the fourth quarter. Amalgamated Bank now owns 25,169 shares of the construction company’s stock valued at $1,592,000 after purchasing an additional 2,248 shares during the period. Institutional investors own 88.73% of the company’s stock.

Several brokerages have commented on LEN. Credit Suisse Group upgraded shares of Lennar from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $67.00 to $81.00 in a research report on Monday, January 22nd. Mizuho upgraded shares of Lennar from a “neutral” rating to a “buy” rating in a research report on Thursday, January 18th. Royal Bank of Canada set a $82.00 price objective on shares of Lennar and gave the company a “buy” rating in a research report on Friday, January 12th. Zacks Investment Research upgraded shares of Lennar from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Tuesday, January 16th. Finally, UBS restated a “buy” rating on shares of Lennar in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $68.80.

Shares of NYSE:LEN traded down $2.42 during trading on Friday, hitting $61.58. 7,352,209 shares of the company were exchanged, compared to its average volume of 4,286,161. The company has a market capitalization of $15,357.38, a PE ratio of 16.16, a price-to-earnings-growth ratio of 0.65 and a beta of 1.23. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.67 and a current ratio of 8.42. Lennar has a 1-year low of $49.34 and a 1-year high of $72.17.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Wednesday, April 4th. The construction company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.35. The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $3.05 billion. Lennar had a net margin of 6.84% and a return on equity of 13.73%. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share. equities analysts forecast that Lennar will post 5.4 EPS for the current fiscal year.

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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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