Lennar (NYSE:LEN) Reaches New 12-Month High at $54.56

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Lennar Co. (NYSE:LEN)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $54.56 and last traded at $54.34, with a volume of 92175 shares. The stock had previously closed at $54.00.

LEN has been the topic of several recent research reports. BTIG Research set a $65.00 price target on Lennar and gave the stock a “buy” rating in a research report on Wednesday, June 26th. ValuEngine lowered Lennar from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Raymond James lowered Lennar from an “outperform” rating to a “market perform” rating and set a $55.00 price target on the stock. in a research report on Tuesday, June 18th. They noted that the move was a valuation call. Wedbush set a $62.00 target price on Lennar and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, SunTrust Banks began coverage on Lennar in a report on Monday, August 12th. They set a “hold” rating and a $47.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Lennar presently has an average rating of “Buy” and a consensus target price of $57.10.

The company has a 50 day simple moving average of $50.00 and a 200-day simple moving average of $50.12. The stock has a market cap of $17.45 billion, a price-to-earnings ratio of 8.57, a P/E/G ratio of 1.15 and a beta of 1.09. The company has a current ratio of 13.93, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62.

Lennar (NYSE:LEN) last released its quarterly earnings results on Tuesday, June 25th. The construction company reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.17. The firm had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $5.13 billion. Lennar had a return on equity of 12.03% and a net margin of 8.86%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $1.58 EPS. Equities analysts forecast that Lennar Co. will post 5.32 earnings per share for the current fiscal year.

In other Lennar news, President Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $49.04, for a total transaction of $980,800.00. Following the transaction, the president now owns 346,946 shares of the company’s stock, valued at $17,014,231.84. The sale was disclosed in a document filed with the SEC, which is available through this link. 8.43% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. State of Wisconsin Investment Board boosted its holdings in shares of Lennar by 64.6% during the first quarter. State of Wisconsin Investment Board now owns 273,325 shares of the construction company’s stock worth $13,418,000 after acquiring an additional 107,299 shares during the period. Norinchukin Bank The boosted its stake in shares of Lennar by 1.3% in the first quarter. Norinchukin Bank The now owns 54,272 shares of the construction company’s stock valued at $2,664,000 after buying an additional 682 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of Lennar in the first quarter valued at approximately $680,000. CIBC World Markets Inc. boosted its stake in shares of Lennar by 131.5% in the first quarter. CIBC World Markets Inc. now owns 24,904 shares of the construction company’s stock valued at $1,223,000 after buying an additional 14,147 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new stake in shares of Lennar in the second quarter valued at approximately $2,218,000. Institutional investors own 83.93% of the company’s stock.

Lennar Company Profile (NYSE:LEN)

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.

Further Reading: What Factors Can Affect Return on Equity?

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