Lennar Corporation (LEN) Earns “Neutral” Rating from Wedbush
Lennar Corporation (NYSE:LEN)‘s stock had its “neutral” rating reiterated by stock analysts at Wedbush in a report issued on Thursday. They presently have a $54.00 price objective on the construction company’s stock. Wedbush’s target price would indicate a potential upside of 5.45% from the stock’s previous close.
Several other research firms have also issued reports on LEN. Zacks Investment Research upgraded shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research report on Friday, June 16th. Argus restated a “buy” rating and issued a $60.00 price target (up from $57.00) on shares of Lennar Corporation in a research report on Tuesday, July 25th. BidaskClub lowered shares of Lennar Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Royal Bank Of Canada raised their price target on shares of Lennar Corporation from $61.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, July 13th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $53.00 price target (up from $52.00) on shares of Lennar Corporation in a research report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $56.88.
Shares of Lennar Corporation (LEN) traded up 0.23% during trading on Thursday, hitting $51.33. 703,305 shares of the stock traded hands. Lennar Corporation has a one year low of $39.68 and a one year high of $55.75. The firm has a 50 day moving average price of $52.42 and a 200-day moving average price of $51.95. The company has a market cap of $12.04 billion, a PE ratio of 15.00 and a beta of 1.24.
Lennar Corporation (NYSE:LEN) last posted its quarterly earnings results on Tuesday, June 20th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.13. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.90 billion. Lennar Corporation had a net margin of 6.78% and a return on equity of 12.57%. The business’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period last year, the business posted $0.95 EPS. Analysts anticipate that Lennar Corporation will post $3.82 earnings per share for the current fiscal year.
In other Lennar Corporation news, COO Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $53.17, for a total value of $1,063,400.00. Following the transaction, the chief operating officer now directly owns 139,433 shares in the company, valued at $7,413,652.61. The transaction was disclosed in a document filed with the SEC, which is available through this link. 12.18% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Sanders Capital LLC boosted its position in Lennar Corporation by 1.3% in the first quarter. Sanders Capital LLC now owns 8,724,399 shares of the construction company’s stock valued at $456,887,000 after buying an additional 110,379 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Lennar Corporation by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,516,323 shares of the construction company’s stock valued at $400,771,000 after buying an additional 386,110 shares in the last quarter. Aristotle Capital Management LLC boosted its position in Lennar Corporation by 1.3% in the first quarter. Aristotle Capital Management LLC now owns 5,767,575 shares of the construction company’s stock valued at $295,242,000 after buying an additional 73,814 shares in the last quarter. Greenhaven Associates Inc. boosted its position in Lennar Corporation by 0.9% in the second quarter. Greenhaven Associates Inc. now owns 5,420,516 shares of the construction company’s stock valued at $289,022,000 after buying an additional 46,200 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Lennar Corporation by 25.0% in the second quarter. Principal Financial Group Inc. now owns 3,129,708 shares of the construction company’s stock valued at $166,876,000 after buying an additional 625,329 shares in the last quarter. Hedge funds and other institutional investors own 81.09% of the company’s stock.
Lennar Corporation 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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