Short Interest in Lennar Co. (NYSE:LEN) Drops By 9.3%

Lennar Co. (NYSE:LEN) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 3,790,000 shares, a decrease of 9.3% from the March 15th total of 4,180,000 shares. Based on an average daily trading volume, of 2,100,000 shares, the short-interest ratio is presently 1.8 days. Approximately 1.6% of the company’s stock are short sold.

Lennar Price Performance

Lennar stock traded down $3.54 during midday trading on Wednesday, reaching $152.58. The company’s stock had a trading volume of 3,167,759 shares, compared to its average volume of 1,851,659. Lennar has a fifty-two week low of $102.90 and a fifty-two week high of $172.59. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.27 and a current ratio of 5.47. The stock’s 50 day simple moving average is $159.66 and its 200 day simple moving average is $141.89. The firm has a market capitalization of $42.47 billion, a PE ratio of 10.69, a P/E/G ratio of 1.46 and a beta of 1.53.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, March 14th. The construction company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.36. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.39 billion. Lennar had a return on equity of 15.90% and a net margin of 11.59%. The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.12 EPS. On average, equities research analysts forecast that Lennar will post 14.46 earnings per share for the current year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lennar’s dividend payout ratio is presently 14.02%.

Insider Buying and Selling

In other news, Director Amy Banse bought 1,575 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were purchased at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the purchase, the director now owns 11,859 shares of the company’s stock, valued at $1,861,863. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 9.36% of the company’s stock.

Institutional Trading of Lennar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC increased its position in Lennar by 484.0% during the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock worth $25,000 after purchasing an additional 121 shares in the last quarter. Dagco Inc. purchased a new stake in Lennar in the 4th quarter valued at about $31,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Lennar in the 3rd quarter valued at about $27,000. Criterion Capital Advisors LLC purchased a new stake in Lennar in the 4th quarter valued at about $36,000. Finally, Raleigh Capital Management Inc. purchased a new stake in Lennar in the 3rd quarter valued at about $28,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on LEN shares. Raymond James increased their price target on shares of Lennar from $150.00 to $165.00 and gave the company an “outperform” rating in a research note on Tuesday, December 19th. Wedbush restated an “underperform” rating and set a $144.00 target price on shares of Lennar in a research report on Tuesday, April 2nd. Keefe, Bruyette & Woods raised their target price on shares of Lennar from $175.00 to $183.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Oppenheimer restated a “market perform” rating on shares of Lennar in a research report on Friday, March 15th. Finally, JMP Securities restated a “market outperform” rating and set a $170.00 target price on shares of Lennar in a research report on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $163.88.

Lennar Company Profile

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.