Lennar’s (LEN) Buy Rating Reaffirmed at UBS Group
Lennar (NYSE:LEN)‘s stock had its “buy” rating reissued by equities researchers at UBS Group in a research note issued to investors on Wednesday, 99wallstreet.com reports.
A number of other research analysts have also recently commented on LEN. Zacks Investment Research raised shares of Lennar from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a report on Tuesday. Wedbush set a $60.00 target price on shares of Lennar and gave the stock a “hold” rating in a report on Thursday, January 4th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $78.00 target price on shares of Lennar in a report on Thursday, January 11th. Credit Suisse Group reissued a “neutral” rating and issued a $65.00 target price (up previously from $57.00) on shares of Lennar in a report on Thursday, January 11th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $64.00 target price on shares of Lennar in a report on Monday, September 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $63.93.
Lennar (LEN) traded up $0.61 during mid-day trading on Wednesday, hitting $71.32. 1,392,140 shares of the stock were exchanged, compared to its average volume of 4,788,364. The company has a market capitalization of $16,500.00, a PE ratio of 20.55, a P/E/G ratio of 1.03 and a beta of 1.35. The company has a debt-to-equity ratio of 0.72, a current ratio of 7.76 and a quick ratio of 0.59. Lennar has a 52-week low of $43.46 and a 52-week high of $70.83.
Lennar (NYSE:LEN) last posted its earnings results on Wednesday, January 10th. The construction company reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.21). The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.59 billion. Lennar had a return on equity of 12.22% and a net margin of 6.41%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company posted $1.34 EPS. sell-side analysts forecast that Lennar will post 5.17 EPS for the current fiscal year.
In related news, VP Diane J. Bessette sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $69.50, for a total value of $695,000.00. Following the completion of the transaction, the vice president now owns 222,396 shares in the company, valued at approximately $15,456,522. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Bruce E. Gross sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now owns 371,043 shares of the company’s stock, valued at approximately $22,262,580. The disclosure for this sale can be found here. In the last quarter, insiders sold 165,000 shares of company stock valued at $11,316,300. 12.18% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. raised its holdings in Lennar by 8.9% during the 2nd quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock worth $101,000 after purchasing an additional 155 shares during the last quarter. Commonwealth Bank of Australia raised its holdings in Lennar by 32.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after purchasing an additional 530 shares during the last quarter. QS Investors LLC raised its holdings in Lennar by 1.0% during the 2nd quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after purchasing an additional 25 shares during the last quarter. Chartist Inc. CA bought a new position in Lennar during the 2nd quarter worth approximately $200,000. Finally, Fiera Capital Corp bought a new position in Lennar during the 2nd quarter worth approximately $224,000. Hedge funds and other institutional investors own 81.25% of the company’s stock.
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Lennar Company Profile
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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