Diane J. Bessette Sells 10,000 Shares of Lennar Co. (NYSE:LEN) Stock

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Lennar Co. (NYSE:LEN) CFO Diane J. Bessette sold 10,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $58.92, for a total transaction of $589,200.00. Following the sale, the chief financial officer now directly owns 253,773 shares of the company’s stock, valued at approximately $14,952,305.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NYSE LEN opened at $65.77 on Thursday. The company has a fifty day simple moving average of $58.59 and a two-hundred day simple moving average of $55.33. The stock has a market cap of $20.63 billion, a P/E ratio of 11.27, a P/E/G ratio of 1.02 and a beta of 1.02. Lennar Co. has a 12-month low of $43.22 and a 12-month high of $66.28. The company has a current ratio of 14.19, a quick ratio of 0.79 and a debt-to-equity ratio of 0.59.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Wednesday, January 8th. The construction company reported $2.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.23. The business had revenue of $6.97 billion during the quarter, compared to analysts’ expectations of $6.60 billion. Lennar had a net margin of 8.31% and a return on equity of 12.16%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $1.96 earnings per share. As a group, sell-side analysts forecast that Lennar Co. will post 6.14 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 24th will be issued a $0.125 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.76%. This is a boost from Lennar’s previous quarterly dividend of $0.04. Lennar’s dividend payout ratio (DPR) is currently 2.79%.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Butensky & Cohen Financial Security Inc. raised its holdings in shares of Lennar by 0.6% in the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 43,269 shares of the construction company’s stock worth $2,414,000 after buying an additional 244 shares during the last quarter. United Capital Management of KS Inc. raised its holdings in shares of Lennar by 3.6% during the third quarter. United Capital Management of KS Inc. now owns 9,229 shares of the construction company’s stock worth $548,000 after purchasing an additional 322 shares during the last quarter. Keybank National Association OH raised its holdings in shares of Lennar by 5.5% during the third quarter. Keybank National Association OH now owns 6,889 shares of the construction company’s stock worth $385,000 after purchasing an additional 359 shares during the last quarter. Clear Harbor Asset Management LLC raised its holdings in shares of Lennar by 5.6% during the third quarter. Clear Harbor Asset Management LLC now owns 7,567 shares of the construction company’s stock worth $423,000 after purchasing an additional 400 shares during the last quarter. Finally, World Asset Management Inc raised its holdings in shares of Lennar by 2.1% during the third quarter. World Asset Management Inc now owns 19,898 shares of the construction company’s stock worth $1,111,000 after purchasing an additional 418 shares during the last quarter. 86.17% of the stock is owned by institutional investors and hedge funds.

LEN has been the subject of a number of analyst reports. Raymond James raised shares of Lennar from a “market perform” rating to an “outperform” rating and set a $61.00 target price for the company in a research report on Wednesday, September 25th. Argus increased their target price on shares of Lennar from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Goldman Sachs Group initiated coverage on shares of Lennar in a research report on Friday, December 6th. They set a “buy” rating and a $71.00 target price for the company. JMP Securities increased their target price on shares of Lennar from $58.00 to $65.00 and gave the company a “market outperform” rating in a research report on Thursday, October 3rd. Finally, Buckingham Research increased their target price on shares of Lennar from $60.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $61.94.

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, 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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