Lennar Co. (NYSE:LEN) Director Scott D. Stowell sold 128,603 shares of the company’s stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $76.35, for a total value of $9,818,839.05. Following the completion of the transaction, the director now owns 59,322 shares in the company, valued at $4,529,234.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
NYSE:LEN opened at $76.70 on Monday. The firm has a market capitalization of $23.95 billion, a PE ratio of 10.70, a price-to-earnings-growth ratio of 1.62 and a beta of 1.64. The business’s fifty day moving average price is $76.28 and its 200 day moving average price is $59.99. The company has a debt-to-equity ratio of 0.45, a current ratio of 14.21 and a quick ratio of 1.24. Lennar Co. has a 12 month low of $25.42 and a 12 month high of $80.06.
Lennar (NYSE:LEN) last posted its earnings results on Monday, September 14th. The construction company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.51 by $0.61. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.53 billion. Lennar had a return on equity of 13.85% and a net margin of 9.97%. Lennar’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.59 earnings per share. As a group, equities analysts anticipate that Lennar Co. will post 6.27 EPS for the current year.
A number of research firms have commented on LEN. ValuEngine upgraded Lennar from a “strong sell” rating to a “sell” rating in a research note on Monday, August 3rd. JMP Securities began coverage on Lennar in a research note on Tuesday, July 14th. They set a “market outperform” rating and a $83.00 price target on the stock. Royal Bank of Canada upgraded Lennar from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $78.00 to $89.00 in a research note on Wednesday, September 16th. BTIG Research upped their price target on Lennar from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, September 11th. Finally, Susquehanna Bancshares upgraded Lennar from a “neutral” rating to a “positive” rating and upped their price target for the stock from $77.00 to $94.00 in a research note on Thursday, September 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $77.86.
Large investors have recently bought and sold shares of the stock. Pacitti Group Inc. purchased a new position in Lennar in the second quarter valued at $44,000. Liberty One Investment Management LLC purchased a new position in shares of Lennar during the second quarter worth about $40,000. Pathstone Family Office LLC purchased a new position in shares of Lennar during the first quarter worth about $38,000. Maverick Capital Ltd. purchased a new position in shares of Lennar during the first quarter worth about $42,000. Finally, AdvisorNet Financial Inc grew its holdings in shares of Lennar by 231.3% during the second quarter. AdvisorNet Financial Inc now owns 1,186 shares of the construction company’s stock worth $73,000 after purchasing an additional 828 shares during the last quarter. 81.62% of the stock is currently owned by hedge funds and other institutional investors.
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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.
Further Reading: Why do company’s buyback their stock?
Receive News & Ratings for Lennar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar and related companies with MarketBeat.com's FREE daily email newsletter.