Lennar Co. (NYSE:LEN - Get Free Report)'s share price rose 1.5% during trading on Friday . The stock traded as high as $107.85 and last traded at $110.04. Approximately 281,093 shares traded hands during trading, a decline of 89% from the average daily volume of 2,487,632 shares. The stock had previously closed at $108.40.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the company. Wells Fargo & Company decreased their target price on Lennar from $120.00 to $110.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Evercore ISI reiterated an "in-line" rating and set a $131.00 target price (down from $159.00) on shares of Lennar in a research report on Monday, March 24th. Wolfe Research lowered shares of Lennar from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. UBS Group lowered their price objective on shares of Lennar from $183.00 to $164.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Finally, Seaport Res Ptn upgraded shares of Lennar from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $150.07.
Get Our Latest Report on LEN
Lennar Price Performance
The firm's fifty day moving average price is $119.92 and its 200-day moving average price is $146.88. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The stock has a market cap of $28.89 billion, a P/E ratio of 7.59, a PEG ratio of 1.24 and a beta of 1.51.
Lennar (NYSE:LEN - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.44. The firm had revenue of $7.63 billion for the quarter, compared to analysts' expectations of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.57 earnings per share. Analysts forecast that Lennar Co. will post 12.48 earnings per share for the current year.
Lennar Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.84%. Lennar's dividend payout ratio is currently 14.57%.
Hedge Funds Weigh In On Lennar
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Castlekeep Investment Advisors LLC bought a new position in Lennar in the 4th quarter worth $218,533,000. Pacer Advisors Inc. raised its stake in Lennar by 22.0% in the fourth quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company's stock worth $446,110,000 after buying an additional 589,553 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Lennar by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company's stock worth $441,769,000 after buying an additional 515,378 shares during the period. Nordea Investment Management AB boosted its position in Lennar by 21.4% during the 4th quarter. Nordea Investment Management AB now owns 2,250,626 shares of the construction company's stock valued at $308,696,000 after acquiring an additional 397,492 shares in the last quarter. Finally, D1 Capital Partners L.P. grew its holdings in shares of Lennar by 67.3% during the 4th quarter. D1 Capital Partners L.P. now owns 672,433 shares of the construction company's stock worth $88,116,000 after acquiring an additional 270,433 shares during the period. Institutional investors own 81.10% of the company's stock.
About Lennar
(
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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.
Further Reading
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