Lennar Sees Unusually Large Options Volume (NYSE:LEN)

Lennar Co. (NYSE:LEN) saw some unusual options trading activity on Friday. Traders acquired 21,257 call options on the company. This is an increase of 188% compared to the typical volume of 7,383 call options.

Lennar Trading Down 0.4 %

Lennar stock opened at $169.66 on Friday. Lennar has a 52-week low of $113.44 and a 52-week high of $193.80. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $46.02 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.59 and a beta of 1.62. The firm has a 50-day moving average price of $181.34 and a two-hundred day moving average price of $167.64.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $9.14 billion. During the same period in the previous year, the firm posted $3.91 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. Sell-side analysts expect that Lennar will post 14.18 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is 13.25%.

Insider Buying and Selling at Lennar

In related news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $175.13, for a total value of $3,064,775.00. Following the transaction, the director now owns 23,689 shares in the company, valued at approximately $4,148,654.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lennar

Several institutional investors have recently bought and sold shares of the stock. Oakworth Capital Inc. bought a new stake in shares of Lennar during the 3rd quarter worth about $27,000. Wolff Wiese Magana LLC raised its holdings in Lennar by 933.3% during the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after purchasing an additional 140 shares in the last quarter. J.Safra Asset Management Corp acquired a new stake in Lennar in the first quarter worth approximately $30,000. GHP Investment Advisors Inc. bought a new position in Lennar during the 3rd quarter valued at $30,000. Finally, New Covenant Trust Company N.A. acquired a new position in shares of Lennar during the 1st quarter valued at $32,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LEN. Bank of America upped their price target on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. JMP Securities increased their price target on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th. Wells Fargo & Company lowered Lennar from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $205.00 to $190.00 in a report on Monday, October 7th. Royal Bank of Canada increased their target price on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a report on Monday, September 23rd. Finally, Barclays upped their price target on Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Lennar currently has a consensus rating of “Hold” and a consensus price target of $181.11.

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.