Lennar (NYSE:LEN) Trading Up 1.5% – Here’s What Happened

Lennar Co. (NYSE:LEN)’s stock price was up 1.5% on Friday . The company traded as high as $107.85 and last traded at $110.04. Approximately 281,093 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 2,487,632 shares. The stock had previously closed at $108.40.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays cut their price objective on shares of Lennar from $121.00 to $110.00 and set an “equal weight” rating for the company in a research report on Monday, March 24th. Bank of America cut their price target on shares of Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, March 18th. Keefe, Bruyette & Woods lowered their price objective on Lennar from $141.00 to $128.00 and set a “market perform” rating on the stock in a report on Tuesday, March 25th. Wells Fargo & Company reduced their price target on Lennar from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Tuesday, March 18th. Finally, Evercore ISI restated an “in-line” rating and issued a $131.00 price target (down from $159.00) on shares of Lennar in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $151.07.

Lennar Price Performance

The firm has a market capitalization of $29.96 billion, a PE ratio of 7.87, a P/E/G ratio of 1.24 and a beta of 1.51. The company has a 50-day moving average price of $122.21 and a 200-day moving average price of $149.44. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.44. The company had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $2.57 EPS. Sell-side analysts forecast that Lennar Co. will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 annualized dividend and a yield of 1.77%. Lennar’s dividend payout ratio (DPR) is presently 14.57%.

Institutional Investors Weigh In On Lennar

A number of hedge funds and other institutional investors have recently made changes to their positions in LEN. Hilltop Holdings Inc. acquired a new position in shares of Lennar during the 3rd quarter valued at about $533,000. Integrated Wealth Concepts LLC raised its stake in Lennar by 5.9% during the third quarter. Integrated Wealth Concepts LLC now owns 19,557 shares of the construction company’s stock worth $3,666,000 after purchasing an additional 1,092 shares during the period. Redwood Investment Management LLC boosted its holdings in shares of Lennar by 1.3% in the 3rd quarter. Redwood Investment Management LLC now owns 9,628 shares of the construction company’s stock valued at $1,801,000 after purchasing an additional 128 shares during the last quarter. Readystate Asset Management LP purchased a new stake in shares of Lennar during the 3rd quarter valued at $652,000. Finally, Quarry LP increased its holdings in shares of Lennar by 136.7% during the 3rd quarter. Quarry LP now owns 232 shares of the construction company’s stock worth $43,000 after buying an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

About Lennar

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.