Lennar (LEN) Raised to Hold at ValuEngine
Several other equities research analysts also recently weighed in on LEN. Zacks Investment Research reaffirmed a sell rating on shares of Lennar in a research report on Monday, December 31st. Citigroup decreased their target price on Lennar from $62.00 to $55.00 and set a buy rating for the company in a research report on Friday, January 4th. Deutsche Bank upped their target price on Lennar to $56.00 and gave the stock a buy rating in a research report on Thursday, January 10th. Bank of America decreased their target price on Lennar from $60.00 to $58.00 and set a buy rating for the company in a research report on Thursday, January 10th. Finally, Buckingham Research initiated coverage on Lennar in a research report on Friday, January 11th. They issued a buy rating for the company. They noted that the move was a valuation call. Five equities research 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 company’s stock. The stock currently has a consensus rating of Buy and an average price target of $57.27.
LEN stock opened at $52.91 on Friday. Lennar has a 12-month low of $37.29 and a 12-month high of $57.57. The company has a quick ratio of 0.84, a current ratio of 14.77 and a debt-to-equity ratio of 0.62. The stock has a market cap of $17.10 billion, a price-to-earnings ratio of 8.33, a PEG ratio of 0.70 and a beta of 1.32.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Tuesday, April 23rd. Lennar’s dividend payout ratio (DPR) is 2.52%.
In related news, President Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $48.94, for a total value of $978,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 8.43% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Ceredex Value Advisors LLC acquired a new position in shares of Lennar in the fourth quarter worth about $28,000. CI Investments Inc. lifted its stake in shares of Lennar by 188.5% in the fourth quarter. CI Investments Inc. now owns 756 shares of the construction company’s stock worth $30,000 after acquiring an additional 494 shares in the last quarter. Valley National Advisers Inc. acquired a new stake in Lennar during the fourth quarter valued at approximately $49,000. NuWave Investment Management LLC acquired a new stake in Lennar during the fourth quarter valued at approximately $51,000. Finally, Meeder Asset Management Inc. acquired a new stake in Lennar during the first quarter valued at approximately $65,000. Institutional investors and hedge funds own 84.86% of the company’s stock.
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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