Lennar’s (LEN) “Neutral” Rating Reiterated at Wedbush

Lennar (NYSE:LENGet Free Report)‘s stock had its “neutral” rating restated by research analysts at Wedbush in a report issued on Monday, RTT News reports. They currently have a $123.00 target price on the construction company’s stock. Wedbush’s price target would suggest a potential upside of 2.71% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. JMP Securities increased their target price on shares of Lennar from $115.00 to $135.00 in a research note on Friday, June 16th. Evercore ISI raised their price objective on shares of Lennar from $153.00 to $161.00 in a research report on Friday, June 16th. Seaport Res Ptn restated a “buy” rating on shares of Lennar in a research report on Wednesday, June 14th. Bank of America raised their price objective on shares of Lennar from $103.00 to $120.00 in a research note on Wednesday, June 14th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Lennar from $130.00 to $145.00 in a research note on Friday, June 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $127.56.

Read Our Latest Stock Report on Lennar

Lennar Stock Performance

NYSE LEN traded up $1.09 during trading hours on Monday, hitting $119.76. The company had a trading volume of 1,614,318 shares, compared to its average volume of 2,180,840. Lennar has a 1-year low of $69.90 and a 1-year high of $133.24. The company has a market cap of $34.42 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 1.56 and a beta of 1.48. The business has a 50 day moving average of $123.10 and a 200-day moving average of $113.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.25 and a current ratio of 7.09.

Lennar (NYSE:LENGet Free Report) last announced its earnings results on Wednesday, June 14th. The construction company reported $2.94 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.62. Lennar had a net margin of 12.66% and a return on equity of 18.27%. The business had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.28 billion. As a group, equities research analysts expect that Lennar will post 12.65 EPS for the current year.

Insider Buying and Selling at Lennar

In other news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $126.48, for a total value of $1,264,800.00. Following the sale, the executive vice president now owns 141,386 shares in the company, valued at approximately $17,882,501.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $126.48, for a total value of $1,264,800.00. Following the sale, the executive vice president now owns 141,386 shares in the company, valued at approximately $17,882,501.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Amy Banse acquired 790 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were acquired at an average price of $126.42 per share, for a total transaction of $99,871.80. Following the purchase, the director now owns 7,293 shares of the company’s stock, valued at $921,981.06. The disclosure for this purchase can be found here. Insiders bought a total of 2,634 shares of company stock valued at $321,855 in the last ninety days. Insiders own 9.53% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LEN. First Trust Advisors LP grew its position in Lennar by 551.1% in the 1st quarter. First Trust Advisors LP now owns 1,824,684 shares of the construction company’s stock worth $191,793,000 after purchasing an additional 1,544,432 shares during the last quarter. Pacer Advisors Inc. grew its position in Lennar by 111.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,467,501 shares of the construction company’s stock worth $259,359,000 after purchasing an additional 1,300,163 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in Lennar by 75,322.0% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 935,987 shares of the construction company’s stock worth $117,288,000 after purchasing an additional 934,746 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in Lennar in the 1st quarter worth about $61,173,000. Finally, Duquesne Family Office LLC bought a new position in shares of Lennar in the fourth quarter valued at approximately $39,991,000. Institutional investors own 79.87% of the company’s stock.

About Lennar

(Get Free Report)

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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