Lennar Co. (NYSE:LEN) Short Interest Update

Lennar Co. (NYSE:LEN - Get Free Report) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 4,670,000 shares, a decrease of 11.2% from the September 15th total of 5,260,000 shares. Based on an average daily volume of 2,010,000 shares, the days-to-cover ratio is currently 2.3 days. Currently, 2.0% of the company's shares are short sold.

Lennar Stock Up 1.9 %

Shares of Lennar stock traded up $3.44 on Tuesday, hitting $185.04. The company had a trading volume of 1,491,511 shares, compared to its average volume of 2,060,104. The stock has a market capitalization of $50.81 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of 1.68 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. Lennar has a 1 year low of $102.90 and a 1 year high of $193.80. The stock has a 50 day moving average of $180.15 and a 200-day moving average of $166.25.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.62 by $0.28. The firm had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.91 EPS. As a group, sell-side analysts forecast that Lennar will post 14.28 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.08%. Lennar's payout ratio is presently 13.60%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LEN. Keefe, Bruyette & Woods lifted their target price on shares of Lennar from $183.00 to $230.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 4th. Barclays lifted their price objective on Lennar from $177.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, September 23rd. Wells Fargo & Company lowered Lennar from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $205.00 to $190.00 in a research report on Monday, October 7th. Zelman & Associates upgraded Lennar from a "neutral" rating to an "outperform" rating in a report on Monday, September 23rd. Finally, Bank of America increased their price target on Lennar from $171.00 to $190.00 and gave the stock a "neutral" rating in a report on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $181.11.

Institutional Trading of Lennar

Institutional investors and hedge funds have recently modified their holdings of the business. Rise Advisors LLC grew its stake in Lennar by 484.0% in the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company's stock valued at $25,000 after purchasing an additional 121 shares during the period. J.Safra Asset Management Corp purchased a new stake in Lennar during the first quarter worth about $30,000. New Covenant Trust Company N.A. bought a new stake in Lennar in the first quarter worth about $32,000. Redmont Wealth Advisors LLC purchased a new position in Lennar in the first quarter valued at about $35,000. Finally, Fortitude Family Office LLC grew its position in shares of Lennar by 223.6% during the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company's stock valued at $35,000 after acquiring an additional 161 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

About Lennar

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.