Lennar Co. (NYSE:LEN) – Stock analysts at KeyCorp increased their FY2018 earnings per share estimates for Lennar in a research note issued to investors on Wednesday. KeyCorp analyst K. Zener now expects that the construction company will post earnings per share of $5.30 for the year, up from their previous forecast of $4.88. KeyCorp also issued estimates for Lennar’s FY2019 earnings at $5.97 EPS.
Other research analysts also recently issued research reports about the stock. Credit Suisse Group reissued a “neutral” rating and issued a $65.00 price objective (up previously from $57.00) on shares of Lennar in a research report on Thursday, January 11th. Wells Fargo & Co raised shares of Lennar from a “market perform” rating to an “outperform” rating and set a $74.00 target price on the stock in a research note on Tuesday, January 2nd. ValuEngine raised shares of Lennar from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Zacks Investment Research downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research note on Monday, January 15th. Finally, Mizuho raised shares of Lennar from a “neutral” rating to a “buy” rating in a research note on Thursday, January 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $66.07.
Lennar (NYSE:LEN) last announced its quarterly earnings data on Wednesday, January 10th. The construction company reported $1.29 EPS for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.21). Lennar had a net margin of 6.41% and a return on equity of 12.00%. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period in the prior year, the company posted $1.34 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LEN. D.A. Davidson & CO. increased its holdings in Lennar by 8.9% during the 2nd quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock worth $101,000 after purchasing an additional 155 shares during the period. First Personal Financial Services acquired a new position in Lennar in the fourth quarter valued at $140,000. Independence Bank of Kentucky acquired a new position in Lennar in the fourth quarter valued at $153,000. QS Investors LLC boosted its holdings in Lennar by 1.0% in the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock valued at $135,000 after acquiring an additional 25 shares during the last quarter. Finally, NuWave Investment Management LLC acquired a new position in Lennar in the fourth quarter valued at $203,000. 80.79% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Diane J. Bessette sold 10,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $69.50, for a total transaction of $695,000.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bruce E. Gross sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 371,043 shares of the company’s stock, valued at approximately $22,262,580. The disclosure for this sale can be found here. In the last three months, insiders sold 180,000 shares of company stock valued at $12,392,050. 12.18% of the stock is owned by insiders.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 26th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Thursday, January 25th. Lennar’s dividend payout ratio (DPR) is 4.68%.
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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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