Lennar (NYSE:LEN) Sees Strong Trading Volume – Time to Buy?

Lennar Corporation (NYSE:LEN) saw an uptick in trading volume on Thursday . 8,445,101 shares traded hands during mid-day trading, an increase of 143% from the previous session’s volume of 3,471,472 shares.The stock last traded at $116.2610 and had previously closed at $115.16.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Royal Bank Of Canada raised their price objective on shares of Lennar from $98.00 to $106.00 and gave the stock a “sector perform” rating in a report on Monday, September 22nd. Raymond James Financial lowered Lennar from a “market perform” rating to an “underperform” rating in a report on Monday, September 22nd. JPMorgan Chase & Co. decreased their price objective on Lennar from $97.00 to $92.00 and set a “neutral” rating on the stock in a research note on Monday, September 22nd. JMP Securities raised their target price on Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a research note on Monday, September 22nd. Finally, The Goldman Sachs Group lifted their target price on Lennar from $122.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $121.75.

Lennar Stock Performance

The firm has a market capitalization of $31.38 billion, a PE ratio of 12.16, a PEG ratio of 5.78 and a beta of 1.33. The company has a quick ratio of 0.68, a current ratio of 4.49 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $124.17 and a 200 day moving average of $119.48.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, September 18th. The construction company reported $2.00 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.14). Lennar had a net margin of 7.72% and a return on equity of 11.09%. The business had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $9.01 billion. During the same period in the previous year, the business earned $3.90 EPS. The business’s revenue was down 6.4% on a year-over-year basis. Equities research analysts predict that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Friday, October 10th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.6%. Lennar’s dividend payout ratio is presently 19.76%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its stake in Lennar by 27.9% during the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after purchasing an additional 377 shares during the last quarter. Oak Thistle LLC bought a new position in shares of Lennar during the 1st quarter valued at about $810,000. Venturi Wealth Management LLC lifted its position in Lennar by 113.0% in the 1st quarter. Venturi Wealth Management LLC now owns 2,275 shares of the construction company’s stock worth $261,000 after buying an additional 1,207 shares during the last quarter. Atria Investments Inc grew its position in Lennar by 23.3% during the first quarter. Atria Investments Inc now owns 111,955 shares of the construction company’s stock valued at $12,850,000 after acquiring an additional 21,159 shares during the last quarter. Finally, Gilbert & Cook Inc. lifted its holdings in shares of Lennar by 17.8% in the 1st quarter. Gilbert & Cook Inc. now owns 4,166 shares of the construction company’s stock worth $478,000 after acquiring an additional 629 shares during the last quarter. 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.