Lennar (NYSE:LEN) Shares Gap Up – What’s Next?

Shares of Lennar Co. (NYSE:LEN) gapped up prior to trading on Tuesday . The stock had previously closed at $109.49, but opened at $113.99. Lennar shares last traded at $112.87, with a volume of 679,305 shares changing hands.

Analysts Set New Price Targets

LEN has been the subject of several research reports. Seaport Res Ptn upgraded Lennar from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Keefe, Bruyette & Woods dropped their price target on shares of Lennar from $141.00 to $128.00 and set a “market perform” rating for the company in a research report on Tuesday, March 25th. Royal Bank of Canada cut their target price on shares of Lennar from $125.00 to $122.00 and set a “sector perform” rating on the stock in a research note on Monday, March 24th. Barclays reduced their price objective on Lennar from $121.00 to $110.00 and set an “equal weight” rating for the company in a research report on Monday, March 24th. Finally, The Goldman Sachs Group decreased their target price on shares of Lennar from $141.00 to $120.00 and set a “neutral” rating for the company in a research report on Tuesday, March 25th. Fifteen analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $150.07.

Lennar Price Performance

The firm’s 50-day moving average is $107.98 and its 200-day moving average is $122.83. The company has a market capitalization of $28.49 billion, a PE ratio of 7.54, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last released its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.04). The company had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the company earned $3.45 EPS. Equities analysts predict that Lennar Co. will post 12.48 earnings per share for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $2.00 annualized dividend and a yield of 1.85%. Lennar’s dividend payout ratio (DPR) is presently 14.57%.

Institutional Investors Weigh In On Lennar

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hurley Capital LLC acquired a new stake in shares of Lennar in the fourth quarter worth $26,000. SBI Securities Co. Ltd. bought a new stake in Lennar in the fourth quarter valued at approximately $28,000. Ameriflex Group Inc. acquired a new stake in Lennar in the 4th quarter valued at approximately $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of Lennar in the first quarter valued at approximately $30,000. Finally, NBC Securities Inc. acquired a new stake in shares of Lennar during the 1st quarter worth $33,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

About Lennar

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.