Lennar Corp. (LEN) Sees Strong Trading Volume
Lennar Corp. (NYSE:LEN) saw unusually-strong trading volume on Friday . Approximately 4,425,463 shares were traded during trading, an increase of 30% from the previous session’s volume of 3,410,498 shares.The stock last traded at $49.16 and had previously closed at $47.49.
Several analysts have commented on LEN shares. JPMorgan Chase & Co. started coverage on Lennar Corp. in a research note on Monday, March 14th. They set a “neutral” rating and a $54.00 target price on the stock. Vetr upgraded Lennar Corp. from a “buy” rating to a “strong-buy” rating and set a $51.00 target price on the stock in a research note on Tuesday, March 15th. Evercore ISI started coverage on Lennar Corp. in a research note on Tuesday, March 22nd. They set a “buy” rating on the stock. Compass Point reiterated a “buy” rating and set a $60.00 target price on shares of Lennar Corp. in a research note on Monday, March 28th. Finally, Deutsche Bank AG increased their target price on Lennar Corp. from $48.00 to $49.00 and gave the company a “hold” rating in a research note on Monday, March 28th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.37.
The stock has a market capitalization of $10.77 billion and a PE ratio of 13.12. The firm’s 50-day moving average price is $46.04 and its 200 day moving average price is $44.90.
Lennar Corp. (NYSE:LEN) last announced its quarterly earnings data on Tuesday, June 21st. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The company had revenue of $2.75 million for the quarter. Lennar Corp.’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 earnings per share. Equities research analysts forecast that Lennar Corp. will post $3.82 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 22nd. Stockholders of record on Friday, July 8th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Wednesday, July 6th.
Several large investors recently made changes to their positions in LEN. Eagle Asset Management raised its stake in shares of Lennar Corp. by 205.5% in the third quarter. Eagle Asset Management now owns 800,324 shares of the company’s stock worth $38,518,000 after buying an additional 538,317 shares during the period. OppenheimerFunds Inc. increased its position in Lennar Corp. by 15.7% in the fourth quarter. OppenheimerFunds Inc. now owns 1,325,638 shares of the company’s stock worth $64,841,000 after buying an additional 179,535 shares in the last quarter. UBS Oconnor LLC acquired a new position in Lennar Corp. during the fourth quarter worth about $5,618,000. Columbus Circle Investors increased its position in Lennar Corp. by 49.2% in the fourth quarter. Columbus Circle Investors now owns 308,651 shares of the company’s stock worth $15,096,000 after buying an additional 101,787 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Lennar Corp. during the fourth quarter worth about $2,006,000.
Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily.
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