Lennar Corp. (NYSE:LEN) COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $42.01, for a total value of $840,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Lennar Corp. (NYSE:LEN) opened at 41.54 on Monday. Lennar Corp. has a 12-month low of $37.14 and a 12-month high of $52.50. The firm has a market cap of $9.46 billion, a PE ratio of 10.93 and a beta of 1.41. The company has a 50 day moving average price of $44.82 and a 200-day moving average price of $46.14.
Lennar Corp. (NYSE:LEN) last posted its quarterly earnings results on Tuesday, September 20th. The company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.12. The business earned $2.83 billion during the quarter. Lennar Corp. had a return on equity of 13.98% and a net margin of 8.37%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the business posted $0.96 earnings per share. Analysts expect that Lennar Corp. will post $3.82 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Wednesday, October 5th will be paid a $0.04 dividend. The ex-dividend date is Monday, October 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 0.39%. Lennar Corp.’s payout ratio is currently 4.21%.
Institutional investors have recently modified their holdings of the stock. Aperio Group LLC increased its position in shares of Lennar Corp. by 7.1% in the first quarter. Aperio Group LLC now owns 111,846 shares of the company’s stock worth $5,409,000 after buying an additional 7,462 shares during the last quarter. Ngam Advisors L.P. increased its position in shares of Lennar Corp. by 52.2% in the first quarter. Ngam Advisors L.P. now owns 123,554 shares of the company’s stock worth $5,975,000 after buying an additional 42,377 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Lennar Corp. by 9.3% in the first quarter. Prudential Financial Inc. now owns 239,803 shares of the company’s stock worth $11,597,000 after buying an additional 20,450 shares during the last quarter. ING Groep NV bought a new position in shares of Lennar Corp. during the first quarter worth approximately $326,000. Finally, Aviva PLC increased its position in shares of Lennar Corp. by 1.7% in the first quarter. Aviva PLC now owns 91,035 shares of the company’s stock worth $4,402,000 after buying an additional 1,535 shares during the last quarter. Institutional investors own 86.40% of the company’s stock.
Several research analysts have recently issued reports on the company. Zacks Investment Research raised Lennar Corp. from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Wednesday, August 24th. Argus assumed coverage on Lennar Corp. in a research report on Tuesday, July 5th. They set a “buy” rating and a $59.00 price objective for the company. FBR & Co reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Lennar Corp. in a research report on Wednesday, June 22nd. MKM Partners reaffirmed a “hold” rating on shares of Lennar Corp. in a research report on Wednesday, June 22nd. Finally, Credit Suisse Group AG reaffirmed a “hold” rating on shares of Lennar Corp. in a research report on Tuesday, June 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Lennar Corp. presently has an average rating of “Buy” and an average target price of $54.03.
About Lennar Corp.
Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily.
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