Traders Buy Shares of Lennar (LEN) on Weakness

Investors bought shares of Lennar Co. (NYSE:LEN) on weakness during trading on Thursday. $96.64 million flowed into the stock on the tick-up and $36.16 million flowed out of the stock on the tick-down, for a money net flow of $60.48 million into the stock. Of all stocks tracked, Lennar had the 14th highest net in-flow for the day. Lennar traded down ($1.07) for the day and closed at $41.90

LEN has been the subject of a number of research analyst reports. JMP Securities set a $56.00 target price on shares of Lennar and gave the stock a “buy” rating in a research note on Friday, October 5th. Wedbush reaffirmed a “neutral” rating on shares of Lennar in a research note on Monday, October 1st. Royal Bank of Canada set a $63.00 target price on shares of Lennar and gave the stock a “buy” rating in a research note on Thursday, October 4th. They noted that the move was a valuation call. Deutsche Bank raised shares of Lennar from a “hold” rating to a “buy” rating and dropped their price target for the stock from $58.00 to $51.00 in a research note on Monday, October 22nd. Finally, Bank of America dropped their price target on shares of Lennar from $93.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, October 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $63.38.

The company has a current ratio of 12.62, a quick ratio of 0.72 and a debt-to-equity ratio of 0.67. The company has a market cap of $14.19 billion, a P/E ratio of 11.00, a P/E/G ratio of 0.48 and a beta of 1.24.

Lennar (NYSE:LEN) last issued its earnings results on Wednesday, October 3rd. The construction company reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.11. Lennar had a net margin of 6.76% and a return on equity of 12.87%. The firm had revenue of $5.67 billion during the quarter, compared to the consensus estimate of $5.62 billion. During the same quarter in the prior year, the firm earned $1.06 earnings per share. The business’s quarterly revenue was up 73.9% on a year-over-year basis. As a group, equities analysts predict that Lennar Co. will post 4.94 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 2nd. Shareholders of record on Friday, October 19th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Thursday, October 18th. Lennar’s payout ratio is presently 4.20%.

In other Lennar news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $46.98, for a total value of $939,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Trexquant Investment LP increased its stake in Lennar by 4.3% in the third quarter. Trexquant Investment LP now owns 44,630 shares of the construction company’s stock valued at $2,084,000 after purchasing an additional 1,855 shares in the last quarter. American International Group Inc. boosted its holdings in shares of Lennar by 12.6% in the third quarter. American International Group Inc. now owns 103,873 shares of the construction company’s stock valued at $4,850,000 after buying an additional 11,620 shares during the period. BBT Capital Management LLC acquired a new position in shares of Lennar in the third quarter valued at approximately $836,000. Artemis Investment Management LLP boosted its holdings in shares of Lennar by 119.0% in the third quarter. Artemis Investment Management LLP now owns 234,300 shares of the construction company’s stock valued at $10,941,000 after buying an additional 127,300 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in shares of Lennar by 2.1% in the third quarter. Alliancebernstein L.P. now owns 4,037,099 shares of the construction company’s stock valued at $188,492,000 after buying an additional 81,676 shares during the period. 85.12% of the stock is owned by hedge funds and other institutional investors.

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Lennar Company Profile (NYSE:LEN)

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its 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.

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