Lennar (LEN) Shares Gap Down to $52.63

Lennar Co. (NYSE:LEN) shares gapped down prior to trading on Thursday . The stock had previously closed at $53.69, but opened at $52.63. Lennar shares last traded at $51.56, with a volume of 3085140 shares trading hands.

Several research analysts recently commented on the company. BTIG Research reduced their price objective on Lennar to $65.00 and set a “positive” rating for the company in a research note on Thursday, March 28th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $60.00 price objective on shares of Lennar in a research note on Sunday, February 24th. KeyCorp increased their price objective on Lennar from $50.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Citigroup reduced their price objective on Lennar from $62.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, January 4th. Finally, ValuEngine raised Lennar from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $57.27.

The company has a market capitalization of $16.73 billion, a PE ratio of 8.12, a price-to-earnings-growth ratio of 0.69 and a beta of 1.32. The company has a quick ratio of 0.84, a current ratio of 14.77 and a debt-to-equity ratio of 0.62.

Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, March 27th. The construction company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Lennar had a return on equity of 13.04% and a net margin of 8.39%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.11 earnings per share. Research analysts predict that Lennar Co. will post 5.42 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lennar’s dividend payout ratio is presently 2.52%.

In other news, President Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $48.94, for a total transaction of $978,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.43% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI boosted its holdings in Lennar by 3.7% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 7,217 shares of the construction company’s stock valued at $283,000 after acquiring an additional 260 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Lennar by 5.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,797 shares of the construction company’s stock valued at $344,000 after buying an additional 467 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Lennar by 2.8% in the 1st quarter. LS Investment Advisors LLC now owns 17,561 shares of the construction company’s stock valued at $862,000 after buying an additional 481 shares during the period. CI Investments Inc. boosted its stake in shares of Lennar by 188.5% in the 4th quarter. CI Investments Inc. now owns 756 shares of the construction company’s stock valued at $30,000 after buying an additional 494 shares during the period. Finally, Gateway Investment Advisers LLC boosted its stake in shares of Lennar by 4.5% in the 4th quarter. Gateway Investment Advisers LLC now owns 12,397 shares of the construction company’s stock valued at $485,000 after buying an additional 538 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.

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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, 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.

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