Lennar Corp. (LEN) Sees Strong Trading Volume
Lennar Corp. (NYSE:LEN) shares saw unusually-high trading volume on Friday . Approximately 4,425,463 shares were traded during mid-day 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.
LEN has been the subject of several research analyst reports. Compass Point reissued a “buy” rating and issued a $60.00 price objective on shares of Lennar Corp. in a report on Monday, March 28th. Evercore ISI assumed coverage on Lennar Corp. in a report on Tuesday, March 22nd. They set a “buy” rating for the company. FBR & Co reaffirmed a “buy” rating and set a $60.00 price target on shares of Lennar Corp. in a report on Thursday, March 31st. Susquehanna reaffirmed a “buy” rating on shares of Lennar Corp. in a report on Thursday, March 31st. Finally, Barclays PLC reaffirmed a “buy” rating on shares of Lennar Corp. in a report on Thursday, March 31st. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Lennar Corp. currently has a consensus rating of “Buy” and an average price target of $55.37.
The firm’s 50-day moving average price is $46.04 and its 200 day moving average price is $44.90. The stock has a market capitalization of $10.77 billion and a price-to-earnings ratio of 13.12.
Lennar Corp. (NYSE:LEN) last released its quarterly earnings data on Tuesday, June 21st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.08. The company had revenue of $2.75 million for the quarter. During the same period in the prior year, the company earned $0.79 EPS. Lennar Corp.’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities 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. Investors of record on Friday, July 8th will be given a dividend of $0.04 per share. The ex-dividend date is Wednesday, July 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.33%.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. OppenheimerFunds Inc. raised 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. Eagle Asset Management raised its position in 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 in the last quarter. I.G. Investment Management LTD. raised its position in Lennar Corp. by 0.9% in the fourth quarter. I.G. Investment Management LTD. now owns 330,171 shares of the company’s stock worth $16,149,000 after buying an additional 2,988 shares in the last quarter. Swiss National Bank raised its position in Lennar Corp. by 1.5% in the fourth quarter. Swiss National Bank now owns 314,800 shares of the company’s stock worth $15,397,000 after buying an additional 4,500 shares in the last quarter. Finally, Columbus Circle Investors raised 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.
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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