Insider Selling: Lennar Co. (LEN) CFO Sells 5,000 Shares of Stock
Lennar Co. (NYSE:LEN) CFO Bruce E. Gross sold 5,000 shares of the 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 transaction, the chief financial officer now directly owns 361,043 shares of the company’s stock, valued at $25,067,215.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Lennar Co. (LEN) traded down $0.48 during mid-day trading on Tuesday, reaching $68.78. The company’s stock had a trading volume of 3,338,646 shares, compared to its average volume of 4,920,740. Lennar Co. has a fifty-two week low of $43.46 and a fifty-two week high of $70.40. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.59 and a current ratio of 7.76. The stock has a market capitalization of $15,990.00, a P/E ratio of 19.82, a PEG ratio of 1.07 and a beta of 1.35.
Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, January 10th. The construction company reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.21). Lennar had a net margin of 6.41% and a return on equity of 12.22%. The company had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter last year, the company earned $1.34 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. equities research analysts expect that Lennar Co. will post 5.02 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of LEN. Fishman Jay A Ltd. MI purchased a new stake in shares of Lennar in the third quarter worth approximately $1,771,000. Rational Advisors LLC purchased a new stake in shares of Lennar in the third quarter worth approximately $1,438,000. Bank of Nova Scotia raised its holdings in shares of Lennar by 71.8% in the second quarter. Bank of Nova Scotia now owns 79,890 shares of the construction company’s stock worth $4,260,000 after buying an additional 33,388 shares during the period. Parkwood LLC purchased a new stake in shares of Lennar in the third quarter worth approximately $3,969,000. Finally, Toronto Dominion Bank raised its holdings in shares of Lennar by 25.5% in the second quarter. Toronto Dominion Bank now owns 68,832 shares of the construction company’s stock worth $3,669,000 after buying an additional 13,992 shares during the period. Institutional investors and hedge funds own 81.25% of the company’s stock.
A number of equities analysts recently commented on LEN shares. UBS Group started coverage on Lennar in a research note on Wednesday, October 25th. They set a “buy” rating for the company. BTIG Research increased their price target on Lennar from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Bank of America increased their price target on Lennar from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Royal Bank of Canada reissued a “buy” rating and set a $64.00 price target on shares of Lennar in a research note on Monday, September 25th. Finally, MKM Partners raised Lennar from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $63.93.
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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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