Lennar Target of Unusually Large Options Trading (NYSE:LEN)

Lennar Corporation (NYSE:LEN) was the recipient of unusually large options trading on Friday. Stock investors bought 26,020 call options on the company. This represents an increase of 67% compared to the average daily volume of 15,600 call options.

Lennar Price Performance

LEN stock traded down $2.69 during trading on Friday, hitting $91.04. The company had a trading volume of 1,928,619 shares, compared to its average volume of 3,002,453. The business has a 50 day moving average of $111.64 and a 200 day moving average of $118.67. The firm has a market capitalization of $22.48 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 1.99 and a beta of 1.43. The company has a current ratio of 4.77, a quick ratio of 0.97 and a debt-to-equity ratio of 0.18. Lennar has a fifty-two week low of $90.61 and a fifty-two week high of $144.24.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). The company had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.The firm’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.14 earnings per share. As a group, research analysts predict that Lennar will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Wednesday, February 4th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 4th. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. Lennar’s dividend payout ratio (DPR) is 28.74%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Lazard Asset Management LLC raised its holdings in shares of Lennar by 7.1% during the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock valued at $141,000 after acquiring an additional 85 shares during the period. Zions Bancorporation National Association UT boosted its position in shares of Lennar by 8.3% in the third quarter. Zions Bancorporation National Association UT now owns 1,127 shares of the construction company’s stock worth $142,000 after buying an additional 86 shares during the period. RFG Advisory LLC grew its holdings in shares of Lennar by 2.1% during the third quarter. RFG Advisory LLC now owns 4,255 shares of the construction company’s stock valued at $536,000 after buying an additional 87 shares in the last quarter. Rossby Financial LCC boosted its position in Lennar by 9.1% during the 4th quarter. Rossby Financial LCC now owns 1,059 shares of the construction company’s stock worth $109,000 after acquiring an additional 88 shares during the period. Finally, UMB Bank n.a. increased its holdings in shares of Lennar by 6.2% in the 3rd quarter. UMB Bank n.a. now owns 1,595 shares of the construction company’s stock valued at $201,000 after purchasing an additional 93 shares during the period. Institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LEN. Zacks Research downgraded shares of Lennar from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. JPMorgan Chase & Co. cut their price objective on shares of Lennar from $115.00 to $80.00 and set an “underweight” rating on the stock in a research report on Thursday, December 18th. Keefe, Bruyette & Woods reduced their target price on shares of Lennar from $115.00 to $105.00 and set a “market perform” rating for the company in a research note on Wednesday. Citizens Jmp restated a “market perform” rating on shares of Lennar in a research report on Wednesday, January 7th. Finally, The Goldman Sachs Group cut their price target on Lennar from $125.00 to $118.00 and set a “neutral” rating on the stock in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat, Lennar currently has an average rating of “Reduce” and an average target price of $102.07.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.