Lennar Co. (NYSE:LEN) Short Interest Update

Lennar Co. (NYSE:LENGet Free Report) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 5,940,000 shares, a growth of 12.9% from the April 15th total of 5,260,000 shares. Currently, 2.5% of the company’s stock are sold short. Based on an average daily trading volume, of 1,980,000 shares, the short-interest ratio is presently 3.0 days.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Lennar from $175.00 to $183.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. JPMorgan Chase & Co. cut their price target on shares of Lennar from $161.00 to $157.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Wells Fargo & Company upped their target price on shares of Lennar from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Citigroup lifted their price target on Lennar from $179.00 to $198.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Finally, JMP Securities restated a “market outperform” rating and issued a $170.00 price objective on shares of Lennar in a research note on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $163.88.

Check Out Our Latest Stock Analysis on Lennar

Lennar Price Performance

NYSE:LEN opened at $162.33 on Wednesday. Lennar has a 52 week low of $102.90 and a 52 week high of $172.59. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.27 and a current ratio of 5.47. The firm’s 50-day simple moving average is $160.28 and its 200 day simple moving average is $148.28. The firm has a market cap of $45.18 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 1.51 and a beta of 1.55.

Lennar (NYSE:LENGet Free Report) last released its quarterly earnings results on Thursday, March 14th. The construction company reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.36. Lennar had a net margin of 11.59% and a return on equity of 15.90%. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.39 billion. During the same period in the previous year, the business earned $2.12 earnings per share. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts predict that Lennar will post 14.46 earnings per share for the current year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Tuesday, April 23rd. Lennar’s payout ratio is currently 14.02%.

Insider Transactions at Lennar

In other Lennar news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $162.70, for a total value of $1,627,000.00. Following the sale, the executive vice president now owns 128,629 shares in the company, valued at approximately $20,927,938.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Amy Banse acquired 1,575 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was bought at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the acquisition, the director now directly owns 11,859 shares of the company’s stock, valued at $1,861,863. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $162.70, for a total value of $1,627,000.00. Following the sale, the executive vice president now owns 128,629 shares in the company, valued at approximately $20,927,938.30. The disclosure for this sale can be found here. 9.36% of the stock is owned by insiders.

Institutional Investors Weigh In On Lennar

Institutional investors and hedge funds have recently bought and sold shares of the company. LRI Investments LLC acquired a new position in shares of Lennar in the 1st quarter valued at approximately $432,000. 1832 Asset Management L.P. increased its stake in Lennar by 21.4% in the first quarter. 1832 Asset Management L.P. now owns 24,380 shares of the construction company’s stock valued at $4,193,000 after acquiring an additional 4,294 shares during the last quarter. JT Stratford LLC increased its stake in shares of Lennar by 25.7% in the 1st quarter. JT Stratford LLC now owns 14,075 shares of the construction company’s stock valued at $2,421,000 after purchasing an additional 2,881 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in Lennar by 248.9% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 10,491 shares of the construction company’s stock worth $1,804,000 after acquiring an additional 7,484 shares in the last quarter. Finally, Axxcess Wealth Management LLC bought a new position in shares of Lennar in the first quarter worth about $221,000. Institutional investors own 81.10% of the company’s stock.

Lennar Company Profile

(Get Free Report)

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's 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; and development, construction, and management of multifamily rental properties.

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