Lennar Co. (NYSE:LEN) COO Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $52.12, for a total value of $1,042,400.00. Following the transaction, the chief operating officer now directly owns 212,333 shares of the company’s stock, valued at approximately $11,066,795.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
NYSE LEN traded up $0.17 on Friday, hitting $53.29. 38,780 shares of the company traded hands, compared to its average volume of 4,350,468. The company has a market capitalization of $17.06 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 0.45 and a beta of 1.22. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.84 and a current ratio of 16.40. Lennar Co. has a 52-week low of $48.71 and a 52-week high of $72.17.
Lennar (NYSE:LEN) last released its earnings results on Tuesday, June 26th. The construction company reported $1.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $1.13. The company had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.10 billion. Lennar had a return on equity of 14.18% and a net margin of 6.49%. Lennar’s quarterly revenue was up 67.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. sell-side analysts forecast that Lennar Co. will post 6 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 26th. Investors of record on Thursday, July 12th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, July 11th. This represents a $0.16 annualized dividend and a yield of 0.30%. Lennar’s dividend payout ratio (DPR) is presently 4.20%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dupont Capital Management Corp lifted its position in Lennar by 117.2% during the first quarter. Dupont Capital Management Corp now owns 2,791 shares of the construction company’s stock valued at $165,000 after purchasing an additional 1,506 shares in the last quarter. Massey Quick Simon & CO. LLC lifted its position in shares of Lennar by 103.1% in the first quarter. Massey Quick Simon & CO. LLC now owns 2,900 shares of the construction company’s stock valued at $171,000 after acquiring an additional 1,472 shares in the last quarter. Gotham Asset Management LLC purchased a new position in shares of Lennar in the fourth quarter valued at about $207,000. Pitcairn Co. purchased a new position in shares of Lennar in the fourth quarter valued at about $214,000. Finally, Doyle Wealth Management purchased a new position in shares of Lennar in the first quarter valued at about $209,000. Institutional investors own 86.22% of the company’s stock.
A number of research firms have commented on LEN. Citigroup lifted their target price on Lennar from $70.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, April 5th. Wedbush reissued a “neutral” rating and issued a $62.00 target price on shares of Lennar in a report on Thursday, April 5th. Credit Suisse Group set a $81.00 target price on Lennar and gave the stock a “buy” rating in a report on Wednesday, April 4th. Mizuho set a $80.00 target price on Lennar and gave the stock a “buy” rating in a report on Sunday, April 8th. Finally, Zacks Investment Research raised Lennar from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Tuesday, March 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $71.69.
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.
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