Wells Fargo & Co upgraded shares of Lennar (NYSE:LEN) from a market perform rating to an outperform rating in a report released on Tuesday morning, MarketBeat Ratings reports. They currently have $74.00 price objective on the construction company’s stock.
A number of other research analysts have also recently commented on LEN. MKM Partners restated a neutral rating on shares of Lennar in a report on Tuesday, September 5th. Wedbush restated a neutral rating and issued a $54.00 price target on shares of Lennar in a report on Thursday, September 14th. Zacks Investment Research upgraded shares of Lennar from a hold rating to a buy rating and set a $57.00 price target on the stock in a report on Friday, September 15th. Mizuho cut shares of Lennar from a buy rating to a neutral rating and cut their price target for the stock from $59.00 to $53.00 in a report on Tuesday, September 19th. Finally, Royal Bank of Canada reaffirmed a buy rating and issued a $64.00 price objective on shares of Lennar in a research note on Monday, September 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $59.60.
Lennar (LEN) traded down $0.28 during mid-day trading on Tuesday, reaching $66.95. 4,595,700 shares of the company’s stock were exchanged, compared to its average volume of 4,650,900. The company has a debt-to-equity ratio of 0.72, a current ratio of 7.76 and a quick ratio of 0.59. Lennar has a fifty-two week low of $43.13 and a fifty-two week high of $67.45. The company has a market capitalization of $15,600.00, a PE ratio of 19.29, a price-to-earnings-growth ratio of 1.34 and a beta of 1.35.
In related news, CFO Bruce E. Gross sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 371,043 shares of the company’s stock, valued at approximately $22,262,580. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $64.02, for a total transaction of $1,280,400.00. Following the completion of the transaction, the chief operating officer now directly owns 99,000 shares of the company’s stock, valued at $6,337,980. The disclosure for this sale can be found here. Corporate insiders own 12.18% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. QS Investors LLC increased its holdings in Lennar by 1.0% in the 2nd quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after buying an additional 25 shares during the period. Riverhead Capital Management LLC grew its stake in shares of Lennar by 0.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,326 shares of the construction company’s stock worth $444,000 after purchasing an additional 36 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Lennar by 1.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 8,913 shares of the construction company’s stock worth $475,000 after purchasing an additional 135 shares during the period. D.A. Davidson & CO. grew its stake in shares of Lennar by 8.9% during the 2nd quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock worth $101,000 after purchasing an additional 155 shares during the period. Finally, Macquarie Group Ltd. grew its stake in shares of Lennar by 3.7% during the 2nd quarter. Macquarie Group Ltd. now owns 5,590 shares of the construction company’s stock worth $298,000 after purchasing an additional 200 shares during the period. Institutional investors own 81.25% of the company’s stock.
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Lennar Company Profile
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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