Lennar (NYSE:LEN) Shares Up 4%

Shares of Lennar Co. (NYSE:LENGet Rating) shot up 4% during trading on Friday . The company traded as high as $74.25 and last traded at $73.41. 72,206 shares were traded during trading, a decline of 97% from the average session volume of 2,862,694 shares. The stock had previously closed at $70.57.

A number of brokerages have recently commented on LEN. KeyCorp dropped their target price on shares of Lennar from $75.00 to $60.00 and set an “underweight” rating on the stock in a report on Wednesday, June 22nd. Barclays dropped their price target on shares of Lennar from $93.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 22nd. UBS Group dropped their price target on shares of Lennar from $108.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, June 22nd. Credit Suisse Group began coverage on shares of Lennar in a research note on Tuesday, April 5th. They issued a “neutral” rating and a $88.00 price target on the stock. Finally, Royal Bank of Canada dropped their price target on shares of Lennar from $109.00 to $100.00 and set a “sector perform” rating on the stock in a research note on Friday, March 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $94.00.

The company has a current ratio of 8.06, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The firm has a market cap of $21.77 billion, a P/E ratio of 4.83, a PEG ratio of 4.18 and a beta of 1.46. The company’s 50 day simple moving average is $74.96 and its 200-day simple moving average is $87.09.

Lennar (NYSE:LENGet Rating) last released its quarterly earnings results on Tuesday, June 21st. The construction company reported $4.49 EPS for the quarter, beating the consensus estimate of $3.99 by $0.50. Lennar had a net margin of 14.77% and a return on equity of 21.45%. During the same quarter last year, the company posted $2.95 earnings per share. On average, sell-side analysts anticipate that Lennar Co. will post 16.87 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 21st. Stockholders of record on Thursday, July 7th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Wednesday, July 6th. Lennar’s payout ratio is currently 10.27%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Desjardins Global Asset Management Inc. purchased a new stake in shares of Lennar during the 4th quarter valued at about $914,000. Global Wealth Management Investment Advisory Inc. increased its holdings in Lennar by 11.3% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 8,805 shares of the construction company’s stock worth $1,023,000 after acquiring an additional 896 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in Lennar by 7.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 57,913 shares of the construction company’s stock worth $6,727,000 after acquiring an additional 3,832 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in Lennar by 3,322.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 44,420 shares of the construction company’s stock worth $5,160,000 after acquiring an additional 43,122 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its holdings in Lennar by 23.2% in the 1st quarter. Wedge Capital Management L L P NC now owns 452,838 shares of the construction company’s stock worth $36,757,000 after acquiring an additional 85,384 shares in the last quarter. 82.00% of the stock is owned by hedge funds and other institutional investors.

About Lennar (NYSE:LEN)

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.

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