Lennar Sees Unusually High Options Volume (NYSE:LEN)

Lennar Co. (NYSE:LENGet Rating) saw unusually large options trading on Wednesday. Stock traders bought 14,617 put options on the company. This represents an increase of 136% compared to the average volume of 6,198 put options.

Insider Transactions at Lennar

In other news, VP David M. Collins sold 15,000 shares of the stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $82.00, for a total value of $1,230,000.00. Following the completion of the sale, the vice president now owns 41,382 shares in the company, valued at $3,393,324. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 9.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its stake in shares of Lennar by 14.7% during the first quarter. The Manufacturers Life Insurance Company now owns 12,617,934 shares of the construction company’s stock valued at $1,027,993,000 after purchasing an additional 1,614,706 shares in the last quarter. Sound Shore Management Inc. CT grew its holdings in Lennar by 111.9% during the first quarter. Sound Shore Management Inc. CT now owns 1,368,189 shares of the construction company’s stock worth $111,056,000 after acquiring an additional 722,560 shares during the period. AQR Capital Management LLC grew its holdings in Lennar by 50.0% during the second quarter. AQR Capital Management LLC now owns 1,897,507 shares of the construction company’s stock worth $130,340,000 after acquiring an additional 632,255 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Lennar during the second quarter worth about $38,616,000. Finally, Pacer Advisors Inc. grew its holdings in Lennar by 290.2% during the first quarter. Pacer Advisors Inc. now owns 709,572 shares of the construction company’s stock worth $57,596,000 after acquiring an additional 527,735 shares during the period. Institutional investors own 81.18% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on LEN. Bank of America lowered Lennar from a “neutral” rating to an “underperform” rating and set a $82.00 target price for the company. in a research note on Thursday, August 25th. Barclays lowered their price objective on Lennar from $93.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 22nd. Raymond James lowered their price objective on Lennar from $125.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, June 22nd. UBS Group lowered their price objective on Lennar from $108.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, June 22nd. Finally, Wells Fargo & Company lowered their price objective on Lennar from $85.00 to $74.00 and set an “equal weight” rating for the company in a research note on Friday, June 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $93.15.

Lennar Trading Down 1.2 %

Shares of NYSE LEN opened at $75.92 on Thursday. The company has a market cap of $22.12 billion, a price-to-earnings ratio of 5.20, a price-to-earnings-growth ratio of 4.50 and a beta of 1.52. Lennar has a 12-month low of $62.54 and a 12-month high of $117.54. The company has a current ratio of 8.06, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The stock’s 50 day simple moving average is $81.27 and its 200 day simple moving average is $79.15.

Lennar (NYSE:LENGet Rating) last announced its quarterly earnings results on Tuesday, June 21st. The construction company reported $4.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.95 by $0.74. The business had revenue of $8.36 billion for the quarter, compared to the consensus estimate of $8.13 billion. Lennar had a return on equity of 21.45% and a net margin of 14.77%. During the same quarter last year, the business posted $2.95 EPS. Equities research analysts expect that Lennar will post 17.11 EPS for the current year.

About Lennar

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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.

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