Lennar Co. (LEN) VP Sells $695,000.00 in Stock
Lennar Co. (NYSE:LEN) VP Diane J. Bessette sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $69.50, for a total value of $695,000.00. Following the sale, the vice president now owns 222,396 shares of the company’s stock, valued at approximately $15,456,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Lennar Co. (LEN) traded up $1.93 during mid-day trading on Wednesday, hitting $70.71. The stock had a trading volume of 3,398,725 shares, compared to its average volume of 4,788,366. The firm has a market capitalization of $16,430.00, a P/E ratio of 20.38, a PEG ratio of 1.05 and a beta of 1.35. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.59 and a current ratio of 7.76. Lennar Co. has a 1-year low of $43.46 and a 1-year high of $70.83.
Lennar (NYSE:LEN) last issued its quarterly earnings results 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). The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.59 billion. Lennar had a return on equity of 12.22% and a net margin of 6.41%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.34 earnings per share. sell-side analysts forecast that Lennar Co. will post 5.1 earnings per share for the current year.
Hedge funds have recently modified their holdings of the company. Fishman Jay A Ltd. MI acquired a new position in shares of Lennar during the third quarter worth $1,771,000. Rational Advisors LLC acquired a new position in shares of Lennar in the 3rd quarter valued at $1,438,000. Bank of Nova Scotia increased its position in shares of Lennar by 71.8% in the 2nd quarter. Bank of Nova Scotia now owns 79,890 shares of the construction company’s stock valued at $4,260,000 after acquiring an additional 33,388 shares during the period. Parkwood LLC acquired a new position in shares of Lennar in the 3rd quarter valued at $3,969,000. Finally, Toronto Dominion Bank increased its position in shares of Lennar by 25.5% in the 2nd quarter. Toronto Dominion Bank now owns 68,832 shares of the construction company’s stock valued at $3,669,000 after acquiring an additional 13,992 shares during the period. 81.25% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on LEN. Mizuho lowered Lennar from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $59.00 to $53.00 in a report on Tuesday, September 19th. Credit Suisse Group restated a “neutral” rating and set a $65.00 target price (up previously from $57.00) on shares of Lennar in a report on Thursday, January 11th. UBS Group restated a “buy” rating on shares of Lennar in a report on Wednesday. Wells Fargo & Co upgraded Lennar from a “market perform” rating to an “outperform” rating and set a $74.00 target price for the company in a report on Tuesday, January 2nd. Finally, BTIG Research upped their target price on Lennar from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. One 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’s stock. Lennar presently has a consensus rating of “Hold” and a consensus price target of $63.93.
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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