Buckingham Research initiated coverage on shares of Lennar (NYSE:LEN) in a research note published on Friday morning, Marketbeat reports. The firm issued a buy rating on the construction company’s stock. The analysts noted that the move was a valuation call.
LEN has been the topic of a number of other reports. Zacks Investment Research lowered shares of Lennar from a hold rating to a sell rating in a research report on Wednesday, December 19th. MKM Partners set a $61.00 target price on shares of Lennar and gave the stock a buy rating in a research report on Thursday, October 4th. Citigroup reduced their target price on shares of Lennar from $62.00 to $55.00 and set a buy rating on the stock in a research report on Friday, January 4th. Deutsche Bank upped their target price on shares of Lennar to $56.00 and gave the stock a buy rating in a research report on Thursday. Finally, Credit Suisse Group set a $55.00 target price on shares of Lennar and gave the stock a buy rating in a research report on Thursday, October 4th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $59.00.
NYSE:LEN opened at $46.41 on Friday. Lennar has a 52-week low of $37.29 and a 52-week high of $72.17. The company has a current ratio of 12.62, a quick ratio of 0.72 and a debt-to-equity ratio of 0.67. The stock has a market cap of $15.29 billion, a PE ratio of 7.31, a P/E/G ratio of 0.43 and a beta of 1.17.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Friday, January 25th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Thursday, January 24th. Lennar’s dividend payout ratio (DPR) is 2.52%.
In related news, COO Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $40.03, for a total transaction of $800,600.00. Following the completion of the sale, the chief operating officer now directly owns 171,014 shares of the company’s stock, valued at $6,845,690.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 8.50% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in Lennar in the third quarter valued at approximately $1,055,000. Montag A & Associates Inc. bought a new stake in Lennar in the third quarter valued at approximately $286,000. Worth Venture Partners LLC bought a new stake in Lennar in the third quarter valued at approximately $106,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Lennar by 2.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 911,469 shares of the construction company’s stock valued at $42,556,000 after purchasing an additional 23,347 shares in the last quarter. Finally, Miller Value Partners LLC increased its stake in Lennar by 0.5% in the second quarter. Miller Value Partners LLC now owns 1,393,550 shares of the construction company’s stock valued at $73,161,000 after purchasing an additional 7,325 shares in the last quarter. 84.53% of the stock is owned by institutional investors and hedge funds.
Lennar Company Profile
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its 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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