Lennar Co. (LEN) Sees Significant Increase in Short Interest

Lennar Co. (NYSE:LEN) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 15,466,308 shares, an increase of 26.5% from the October 31st total of 12,224,476 shares. Currently, 5.4% of the shares of the company are short sold. Based on an average daily volume of 4,954,270 shares, the short-interest ratio is presently 3.1 days.

Several analysts recently weighed in on LEN shares. JMP Securities reissued an “outperform” rating on shares of Lennar in a report on Monday, October 8th. Mizuho set a $65.00 price target on Lennar and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Wedbush raised Lennar from a “neutral” rating to an “outperform” rating and dropped their price target for the stock from $56.00 to $50.00 in a report on Monday, October 29th. Barclays set a $63.00 price target on Lennar and gave the stock a “buy” rating in a report on Friday, September 14th. Finally, Royal Bank of Canada set a $63.00 price target on Lennar and gave the stock a “buy” rating in a report on Thursday, October 4th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $62.63.

Lennar stock opened at $42.73 on Monday. Lennar has a one year low of $38.22 and a one year high of $72.17. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.72 and a current ratio of 12.62. The firm has a market cap of $14.11 billion, a price-to-earnings ratio of 11.22, a P/E/G ratio of 0.51 and a beta of 1.24.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Wednesday, October 3rd. The construction company reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.11. Lennar had a return on equity of 12.87% and a net margin of 6.76%. The company had revenue of $5.67 billion for the quarter, compared to analyst estimates of $5.62 billion. During the same quarter last year, the company posted $1.06 EPS. The company’s revenue for the quarter was up 73.9% compared to the same quarter last year. Equities research analysts expect that Lennar will post 4.92 earnings per share for the current fiscal year.

In related news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $46.98, for a total transaction of $939,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.50% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Worth Venture Partners LLC bought a new position in shares of Lennar in the 3rd quarter valued at $106,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in shares of Lennar by 475.0% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,990 shares of the construction company’s stock valued at $157,000 after purchasing an additional 2,470 shares during the last quarter. Ayalon Holdings Ltd. bought a new position in shares of Lennar in the 2nd quarter valued at $158,000. Usca Ria LLC bought a new position in shares of Lennar in the 2nd quarter valued at $203,000. Finally, Levin Capital Strategies L.P. bought a new position in shares of Lennar in the 2nd quarter valued at $210,000. Institutional investors own 87.14% of the company’s stock.

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Lennar Company Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its 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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