Lennar Co. (NYSE:LEN – Get Rating) has earned a consensus recommendation of “Hold” from the fifteen research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $91.17.
LEN has been the topic of a number of research analyst reports. Raymond James decreased their price target on shares of Lennar from $125.00 to $75.00 and set an “outperform” rating on the stock in a report on Wednesday, June 22nd. Wedbush lowered shares of Lennar from an “outperform” rating to a “neutral” rating in a report on Friday, August 12th. Bank of America lowered shares of Lennar from a “neutral” rating to an “underperform” rating and set a $82.00 price target on the stock. in a report on Thursday, August 25th. UBS Group decreased their price target on shares of Lennar from $108.00 to $106.00 and set a “buy” rating on the stock in a report on Wednesday, June 22nd. Finally, BTIG Research upped their price objective on shares of Lennar from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, June 22nd.
Lennar Stock Performance
Lennar stock opened at $73.44 on Thursday. The firm’s 50 day simple moving average is $81.56 and its 200 day simple moving average is $79.68. The company has a current ratio of 8.06, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $21.40 billion, a PE ratio of 5.03, a price-to-earnings-growth ratio of 4.57 and a beta of 1.52. Lennar has a 1-year low of $62.54 and a 1-year high of $117.54.
Lennar Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 21st. Shareholders of record on Thursday, July 7th were paid a dividend of $0.375 per share. The ex-dividend date was Wednesday, July 6th. This represents a $1.50 dividend on an annualized basis and a yield of 2.04%. Lennar’s dividend payout ratio is currently 10.27%.
Insider Buying and Selling at Lennar
In other Lennar news, VP David M. Collins sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $82.00, for a total transaction of $1,230,000.00. Following the completion of the sale, the vice president now directly owns 41,382 shares in the company, valued at approximately $3,393,324. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.08% of the stock is owned by company insiders.
Institutional Trading of Lennar
Institutional investors have recently made changes to their positions in the stock. City State Bank purchased a new stake in shares of Lennar during the 4th quarter valued at about $27,000. Riverview Trust Co purchased a new stake in shares of Lennar during the 1st quarter valued at about $28,000. ACG Wealth purchased a new position in shares of Lennar in the second quarter worth approximately $28,000. Adirondack Trust Co. purchased a new position in shares of Lennar in the second quarter worth approximately $28,000. Finally, Investors Asset Management of Georgia Inc. GA ADV purchased a new position in shares of Lennar in the second quarter worth approximately $28,000. Hedge funds and other institutional investors own 81.18% of the company’s stock.
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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