Lennar (NYSE:LEN)‘s stock had its “overweight” rating reissued by analysts at JPMorgan Chase & Co. in a research note issued on Tuesday. They currently have a $77.00 price objective on the construction company’s stock. JPMorgan Chase & Co.’s price objective indicates a potential upside of 25.76% from the company’s previous close.
Other equities analysts have also recently issued research reports about the stock. Credit Suisse Group reissued a “neutral” rating and issued a $65.00 price target (up previously from $57.00) on shares of Lennar in a research note on Thursday, January 11th. Wells Fargo & Co raised shares of Lennar from a “market perform” rating to an “outperform” rating and set a $74.00 price target for the company in a research note on Tuesday, January 2nd. ValuEngine raised shares of Lennar from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Zacks Investment Research cut shares of Lennar from a “buy” rating to a “hold” rating in a research note on Monday, January 15th. Finally, Mizuho raised shares of Lennar from a “neutral” rating to a “buy” rating in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Lennar has an average rating of “Buy” and an average price target of $67.93.
Lennar (NYSE:LEN) opened at $61.23 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 8.42 and a debt-to-equity ratio of 0.80. Lennar has a 12 month low of $45.01 and a 12 month high of $72.17. The company has a market cap of $14,230.00, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 0.62 and a beta of 1.26.
Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, January 10th. The construction company reported $1.29 EPS for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.21). Lennar had a return on equity of 12.00% and a net margin of 6.41%. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the prior year, the firm earned $1.34 EPS. Lennar’s quarterly revenue was up 12.1% on a year-over-year basis. sell-side analysts expect that Lennar will post 5.21 earnings per share for the current year.
In other news, General Counsel Mark Sustana sold 125,000 shares of the company’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $69.55, for a total value of $8,693,750.00. Following the completion of the sale, the general counsel now owns 65,720 shares of the company’s stock, valued at approximately $4,570,826. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bruce E. Gross sold 1,000 shares of the company’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $72.00, for a total transaction of $72,000.00. Following the completion of the sale, the chief financial officer now directly owns 356,043 shares of the company’s stock, valued at approximately $25,635,096. The disclosure for this sale can be found here. Insiders sold a total of 180,000 shares of company stock valued at $12,392,050 in the last ninety days. 12.18% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Eagle Asset Management Inc. raised its holdings in Lennar by 13.7% during the 4th quarter. Eagle Asset Management Inc. now owns 1,223,904 shares of the construction company’s stock valued at $77,075,000 after buying an additional 147,399 shares during the last quarter. Capital Growth Management LP raised its holdings in Lennar by 28.2% during the 3rd quarter. Capital Growth Management LP now owns 1,090,000 shares of the construction company’s stock valued at $57,552,000 after buying an additional 240,000 shares during the last quarter. Glenhill Advisors LLC bought a new stake in Lennar during the 4th quarter valued at $66,782,000. Carillon Tower Advisers Inc. bought a new stake in Lennar during the 4th quarter valued at $53,102,000. Finally, Swiss National Bank raised its holdings in Lennar by 1.0% during the 3rd quarter. Swiss National Bank now owns 748,500 shares of the construction company’s stock valued at $39,521,000 after buying an additional 7,500 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.
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Lennar Company Profile
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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