Lennar Co. (NYSE:LEN) Receives Average Recommendation of “Hold” from Brokerages

Shares of Lennar Co. (NYSE:LEN) have been given a consensus recommendation of “Hold” by the sixteen ratings firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $166.47.

LEN has been the subject of several research reports. Keefe, Bruyette & Woods restated an “outperform” rating and set a $183.00 price target on shares of Lennar in a research report on Tuesday, June 18th. Citigroup reduced their target price on shares of Lennar from $198.00 to $174.00 and set a “buy” rating for the company in a research report on Friday, June 21st. UBS Group lifted their price target on shares of Lennar from $190.00 to $198.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Deutsche Bank Aktiengesellschaft increased their price objective on Lennar from $110.00 to $122.00 and gave the company a “sell” rating in a report on Thursday, March 14th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Lennar in a research report on Friday, March 15th.

Lennar Stock Down 1.0 %

Shares of NYSE:LEN opened at $149.22 on Wednesday. Lennar has a 1 year low of $102.90 and a 1 year high of $172.59. The company has a market capitalization of $41.53 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 1.36 and a beta of 1.57. The business has a fifty day moving average price of $156.35 and a two-hundred day moving average price of $155.38. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be paid a $0.50 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.00 dividend on an annualized basis and a yield of 1.34%. Lennar’s dividend payout ratio is presently 13.60%.

Insider Activity

In related news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $162.70, for a total value of $1,627,000.00. Following the completion of the sale, the executive vice president now owns 128,629 shares in the company, valued at approximately $20,927,938.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Amy Banse purchased 1,575 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were acquired at an average cost of $157.00 per share, with a total value of $247,275.00. Following the purchase, the director now directly owns 11,859 shares of the company’s stock, valued at $1,861,863. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the sale, the executive vice president now directly owns 128,629 shares of the company’s stock, valued at approximately $20,927,938.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,176 shares of company stock worth $4,841,039. 9.36% of the stock is currently owned by corporate insiders.

Institutional Trading of Lennar

A number of institutional investors have recently modified their holdings of LEN. The Manufacturers Life Insurance Company boosted its holdings in Lennar by 5.9% in the third quarter. The Manufacturers Life Insurance Company now owns 6,544,345 shares of the construction company’s stock valued at $734,477,000 after acquiring an additional 366,983 shares in the last quarter. Pacer Advisors Inc. raised its stake in Lennar by 3.0% in the fourth quarter. Pacer Advisors Inc. now owns 2,681,233 shares of the construction company’s stock worth $399,611,000 after buying an additional 79,217 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Lennar by 3.6% in the first quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock worth $303,585,000 after buying an additional 60,713 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Lennar by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,550,371 shares of the construction company’s stock valued at $231,067,000 after acquiring an additional 8,008 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Lennar by 47.6% during the 3rd quarter. AQR Capital Management LLC now owns 1,501,257 shares of the construction company’s stock worth $168,486,000 after acquiring an additional 484,056 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

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.