Lennar Corporation (NYSE:LEN – Get Free Report) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totaling 12,559,277 shares, a growth of 12.7% from the March 31st total of 11,140,413 shares. Currently, 5.7% of the company’s shares are sold short. Based on an average daily trading volume, of 3,254,291 shares, the short-interest ratio is presently 3.9 days.
Institutional Investors Weigh In On Lennar
A number of institutional investors and hedge funds have recently bought and sold shares of LEN. Guerra Advisors Inc purchased a new stake in Lennar in the 3rd quarter valued at $25,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Lennar in the 3rd quarter valued at $25,000. Redmont Wealth Advisors LLC purchased a new stake in Lennar in the 3rd quarter valued at $26,000. High Point Wealth Management LLC purchased a new stake in Lennar in the 4th quarter valued at $31,000. Finally, DV Equities LLC purchased a new stake in Lennar in the 4th quarter valued at $31,000. 81.10% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
LEN has been the topic of a number of research analyst reports. Royal Bank Of Canada set a $88.00 price target on Lennar in a report on Friday, January 9th. Citizens Jmp restated a “market perform” rating on shares of Lennar in a report on Wednesday, January 7th. Wells Fargo & Company cut their price target on Lennar from $100.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Truist Financial cut their price target on Lennar from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Tuesday, March 31st. Finally, Keefe, Bruyette & Woods cut their price target on Lennar from $105.00 to $97.00 and set a “market perform” rating on the stock in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and eight have issued a Sell rating to the company. According to data from MarketBeat.com, Lennar presently has an average rating of “Reduce” and a consensus price target of $99.87.
Lennar Price Performance
Shares of NYSE:LEN opened at $88.55 on Friday. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18. Lennar has a twelve month low of $83.03 and a twelve month high of $144.24. The stock’s 50 day moving average is $95.71 and its 200-day moving average is $110.30. The firm has a market capitalization of $21.87 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.94 and a beta of 1.41.
Lennar (NYSE:LEN – Get Free Report) last issued its earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). Lennar had a return on equity of 7.80% and a net margin of 5.39%.The firm had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same period in the previous year, the company earned $2.14 earnings per share. Lennar’s revenue for the quarter was down 13.3% compared to the same quarter last year. Sell-side analysts forecast that Lennar will post 5.91 EPS for the current fiscal year.
Lennar Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, April 22nd. Lennar’s dividend payout ratio is presently 28.74%.
About Lennar
Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.
In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.
Further Reading
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