Lennar Corp. (LEN) Trading Down 2.9%
Lennar Corp. (NYSE:LEN) traded down 2.9% during trading on Friday . The company traded as low as $46.62 and last traded at $46.88, with a volume of 1,929,854 shares trading hands. The stock had previously closed at $48.28.
A number of equities research analysts have recently commented on the stock. MKM Partners reaffirmed a “hold” rating on shares of Lennar Corp. in a report on Wednesday, June 22nd. Vetr raised shares of Lennar Corp. from a “buy” rating to a “strong-buy” rating and set a $53.50 price target for the company in a report on Tuesday, April 19th. Susquehanna reissued a “buy” rating on shares of Lennar Corp. in a report on Thursday, March 31st. Credit Suisse Group AG reissued a “hold” rating on shares of Lennar Corp. in a report on Tuesday, June 28th. Finally, FBR & Co reissued a “buy” rating and set a $60.00 price target on shares of Lennar Corp. in a report on Thursday, March 31st. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $55.37.
The firm has a 50-day moving average price of $47.23 and a 200-day moving average price of $45.11. The company has a market cap of $10.26 billion and a P/E ratio of 12.49.
Lennar Corp. (NYSE:LEN) last released its quarterly earnings results on Tuesday, June 21st. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. During the same quarter last year, the business earned $0.79 EPS. The company had revenue of $2.75 million for the quarter. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, analysts expect that Lennar Corp. will post $3.82 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 22nd. Shareholders of record on Friday, July 8th were given a dividend of $0.04 per share. The ex-dividend date was Wednesday, July 6th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.34%.
Other hedge funds recently added to or reduced their stakes in the company. Eagle Asset Management increased its stake 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 during the period. UBS Oconnor LLC bought a new stake in Lennar Corp. during the fourth quarter worth approximately $5,618,000. Airain ltd bought a new stake in Lennar Corp. during the fourth quarter worth approximately $2,746,000. Marshall Wace LLP acquired a new stake in Lennar Corp. during the fourth quarter worth approximately $2,006,000. Finally, Bank of Montreal Can increased its stake in Lennar Corp. by 13.2% in the fourth quarter. Bank of Montreal Can now owns 150,955 shares of the company’s stock worth $7,384,000 after buying an additional 17,592 shares during 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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