Shares of Lennar Co. (NYSE:LEN) have received an average rating of “Buy” from the nineteen research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $56.94.
A number of equities analysts have issued reports on LEN shares. JPMorgan Chase & Co. cut Lennar from an “overweight” rating to a “neutral” rating and set a $38.00 target price for the company. in a report on Wednesday, March 18th. Cfra lowered their target price on Lennar from $65.00 to $40.00 and set a “hold” rating for the company in a report on Thursday, March 19th. Bank of America cut Lennar from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $78.00 to $66.00 in a report on Thursday, March 12th. Wells Fargo & Co lowered their target price on Lennar from $65.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, March 20th. Finally, Susquehanna Bancshares raised Lennar from a “neutral” rating to a “positive” rating and lowered their target price for the stock from $65.00 to $43.00 in a report on Monday.
NYSE:LEN traded up $5.11 during trading hours on Friday, reaching $40.71. 6,022,674 shares of the company’s stock were exchanged, compared to its average volume of 4,322,737. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 6.47, a P/E/G ratio of 0.51 and a beta of 0.98. The company has a 50-day moving average of $58.77 and a 200 day moving average of $58.87. The company has a quick ratio of 1.15, a current ratio of 14.37 and a debt-to-equity ratio of 0.49. Lennar has a 1-year low of $25.42 and a 1-year high of $71.38.
In related news, insider David M. Collins sold 10,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $62.54, for a total transaction of $625,400.00. Following the completion of the sale, the insider now directly owns 116,631 shares of the company’s stock, valued at $7,294,102.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David M. Collins sold 20,000 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $67.22, for a total value of $1,344,400.00. Following the sale, the insider now directly owns 96,631 shares of the company’s stock, valued at $6,495,535.82. The disclosure for this sale can be found here. In the last three months, insiders sold 360,000 shares of company stock valued at $23,840,200. Insiders own 8.60% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of LEN. Macquarie Group Ltd. lifted its holdings in shares of Lennar by 247.1% in the 4th quarter. Macquarie Group Ltd. now owns 18,747 shares of the construction company’s stock valued at $1,046,000 after acquiring an additional 13,346 shares during the last quarter. Pearl River Capital LLC increased its position in shares of Lennar by 476.1% during the fourth quarter. Pearl River Capital LLC now owns 10,093 shares of the construction company’s stock worth $563,000 after acquiring an additional 8,341 shares during the period. Sunbelt Securities Inc. purchased a new position in shares of Lennar during the fourth quarter worth approximately $6,779,000. Redpoint Investment Management Pty Ltd increased its position in shares of Lennar by 579.7% during the fourth quarter. Redpoint Investment Management Pty Ltd now owns 34,955 shares of the construction company’s stock worth $1,950,000 after acquiring an additional 29,812 shares during the period. Finally, LMR Partners LLP increased its position in shares of Lennar by 107.5% during the fourth quarter. LMR Partners LLP now owns 30,366 shares of the construction company’s stock worth $1,694,000 after acquiring an additional 15,735 shares during the period. 84.14% of the stock is owned by institutional investors.
Lennar Company Profile
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Lennar Financial Services, Lennar Multifamily, and Rialto segments. The company's 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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